Meiji Yasuda Asset Management Co Ltd. Sells 285 Shares of Zscaler, Inc. (NASDAQ:ZS)

Meiji Yasuda Asset Management Co Ltd. lessened its stake in Zscaler, Inc. (NASDAQ:ZS) by 8.5% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,061 shares of the company’s stock after selling 285 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in Zscaler were worth $588,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. L & S Advisors Inc increased its position in shares of Zscaler by 2.3% during the second quarter. L & S Advisors Inc now owns 8,716 shares of the company’s stock worth $1,675,000 after purchasing an additional 193 shares in the last quarter. Lmcg Investments LLC acquired a new position in Zscaler during the 2nd quarter valued at about $1,438,000. Dimensional Fund Advisors LP increased its position in Zscaler by 13.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 160,828 shares of the company’s stock valued at $30,908,000 after buying an additional 18,758 shares in the last quarter. Massachusetts Financial Services Co. MA purchased a new stake in Zscaler in the second quarter valued at about $25,287,000. Finally, Rathbones Group PLC boosted its holdings in Zscaler by 9.8% in the second quarter. Rathbones Group PLC now owns 3,131 shares of the company’s stock worth $602,000 after acquiring an additional 280 shares in the last quarter. 46.45% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently issued reports on ZS. Bank of America downgraded shares of Zscaler from a “buy” rating to a “neutral” rating and cut their price objective for the company from $265.00 to $195.00 in a report on Wednesday, September 4th. Sanford C. Bernstein decreased their price target on shares of Zscaler from $280.00 to $270.00 and set an “outperform” rating for the company in a report on Friday, May 31st. UBS Group dropped their price objective on shares of Zscaler from $270.00 to $250.00 and set a “buy” rating on the stock in a report on Wednesday, September 4th. Canaccord Genuity Group cut their target price on Zscaler from $260.00 to $220.00 and set a “buy” rating on the stock in a research report on Tuesday, June 4th. Finally, Morgan Stanley lifted their price target on Zscaler from $202.00 to $215.00 and gave the stock an “equal weight” rating in a research report on Monday, August 26th. Nine research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Zscaler currently has an average rating of “Moderate Buy” and a consensus price target of $218.39.

Zscaler Stock Performance

Shares of NASDAQ ZS opened at $172.71 on Friday. The firm has a fifty day moving average of $181.87 and a 200 day moving average of $183.42. The firm has a market cap of $26.34 billion, a PE ratio of -338.65 and a beta of 0.82. Zscaler, Inc. has a one year low of $146.59 and a one year high of $259.61.

Zscaler (NASDAQ:ZS) last released its earnings results on Tuesday, September 3rd. The company reported $0.88 EPS for the quarter, topping analysts’ consensus estimates of $0.70 by $0.18. Zscaler had a negative net margin of 2.66% and a negative return on equity of 3.46%. The business had revenue of $592.90 million during the quarter, compared to analysts’ expectations of $567.46 million. During the same quarter in the previous year, the company earned ($0.17) earnings per share. The company’s quarterly revenue was up 30.3% on a year-over-year basis. On average, equities analysts predict that Zscaler, Inc. will post -0.92 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Remo Canessa sold 8,455 shares of the stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $171.28, for a total value of $1,448,172.40. Following the completion of the transaction, the chief financial officer now directly owns 231,793 shares of the company’s stock, valued at approximately $39,701,505.04. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Zscaler news, CEO Jagtar Singh Chaudhry sold 2,852 shares of the firm’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $171.28, for a total value of $488,490.56. Following the transaction, the chief executive officer now directly owns 361,432 shares of the company’s stock, valued at approximately $61,906,072.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Remo Canessa sold 8,455 shares of the company’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $171.28, for a total value of $1,448,172.40. Following the completion of the sale, the chief financial officer now owns 231,793 shares of the company’s stock, valued at $39,701,505.04. The disclosure for this sale can be found here. In the last three months, insiders sold 16,120 shares of company stock worth $2,761,034. Corporate insiders own 19.20% of the company’s stock.

About Zscaler

Zscaler, Inc operates as a cloud security company worldwide. The company offers Zscaler Internet Access solution that provides users, workloads, IoT, and OT devices secure access to externally managed applications, including software-as-a-service (SaaS) applications and internet destinations; and Zscaler Private Access solution, which is designed to provide access to managed applications hosted internally in data centers, and private or public clouds.