Zscaler, Inc. (NASDAQ:ZS) Shares Sold by Central Pacific Bank Trust Division

Central Pacific Bank Trust Division cut its position in shares of Zscaler, Inc. (NASDAQ:ZS) by 81.1% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 470 shares of the company’s stock after selling 2,020 shares during the quarter. Central Pacific Bank Trust Division’s holdings in Zscaler were worth $80,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in Zscaler by 1.3% during the first quarter. Vanguard Group Inc. now owns 8,961,774 shares of the company’s stock worth $1,726,307,000 after purchasing an additional 118,002 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Zscaler by 19.9% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 619,293 shares of the company’s stock worth $119,294,000 after acquiring an additional 102,616 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Zscaler by 5.3% in the second quarter. Bank of New York Mellon Corp now owns 496,047 shares of the company’s stock worth $95,335,000 after acquiring an additional 25,181 shares during the last quarter. Federated Hermes Inc. raised its holdings in shares of Zscaler by 18.3% in the second quarter. Federated Hermes Inc. now owns 394,698 shares of the company’s stock worth $75,857,000 after acquiring an additional 61,037 shares during the last quarter. Finally, Acadian Asset Management LLC raised its holdings in shares of Zscaler by 0.9% in the first quarter. Acadian Asset Management LLC now owns 336,197 shares of the company’s stock worth $64,744,000 after acquiring an additional 2,937 shares during the last quarter. 46.45% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO Jagtar Singh Chaudhry sold 2,852 shares of the stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $171.28, for a total value of $488,490.56. Following the completion of the transaction, the chief executive officer now directly owns 361,432 shares of the company’s stock, valued at $61,906,072.96. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Zscaler news, insider Robert Schlossman sold 4,947 shares of the stock in a transaction on Monday, September 30th. The stock was sold at an average price of $170.22, for a total transaction of $842,078.34. Following the completion of the transaction, the insider now directly owns 107,241 shares of the company’s stock, valued at approximately $18,254,563.02. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Jagtar Singh Chaudhry sold 2,852 shares of the stock in a transaction 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 trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 29,067 shares of company stock valued at $4,995,912 in the last three months. 19.20% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Scotiabank cut their price target on Zscaler from $210.00 to $195.00 and set a “sector outperform” rating for the company in a report on Wednesday, September 4th. Robert W. Baird lowered their price objective on Zscaler from $260.00 to $225.00 and set an “outperform” rating for the company in a research report on Wednesday, September 4th. Susquehanna reaffirmed a “positive” rating and issued a $210.00 price objective on shares of Zscaler in a research report on Thursday, September 5th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $230.00 price objective on shares of Zscaler in a research report on Wednesday, September 4th. Finally, Piper Sandler lowered their price objective on Zscaler from $255.00 to $215.00 and set an “overweight” rating for the company in a research report on Wednesday, September 4th. Nine investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $218.09.

Zscaler Trading Up 2.5 %

NASDAQ ZS traded up $4.30 on Friday, hitting $173.93. 1,748,228 shares of the stock traded hands, compared to its average volume of 2,108,972. The stock has a 50-day moving average of $177.60 and a 200 day moving average of $181.29. Zscaler, Inc. has a twelve month low of $149.63 and a twelve month high of $259.61. The company has a market capitalization of $26.29 billion, a P/E ratio of -341.04 and a beta of 0.82.

Zscaler (NASDAQ:ZS) last posted its earnings results on Tuesday, September 3rd. The company reported ($0.05) EPS for the quarter, beating the consensus estimate of ($0.14) by $0.09. The company had revenue of $592.90 million during the quarter, compared to analyst estimates of $567.46 million. Zscaler had a negative return on equity of 3.46% and a negative net margin of 2.66%. The business’s revenue was up 30.3% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.17) earnings per share. As a group, equities research analysts expect that Zscaler, Inc. will post -0.95 earnings per share for the current year.

Zscaler Profile

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.