Zscaler, Inc. (NASDAQ:ZS) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. decreased its holdings in shares of Zscaler, Inc. (NASDAQ:ZS) by 1.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,902 shares of the company’s stock after selling 76 shares during the period. Principal Financial Group Inc.’s holdings in Zscaler were worth $1,351,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. DekaBank Deutsche Girozentrale lifted its position in shares of Zscaler by 7.1% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 221,212 shares of the company’s stock valued at $37,495,000 after acquiring an additional 14,701 shares during the period. Creative Planning boosted its position in Zscaler by 7.6% during the third quarter. Creative Planning now owns 148,534 shares of the company’s stock worth $25,390,000 after purchasing an additional 10,551 shares in the last quarter. Massachusetts Financial Services Co. MA acquired a new stake in Zscaler in the second quarter valued at $25,287,000. Strategic Advisors LLC increased its position in shares of Zscaler by 470.0% in the third quarter. Strategic Advisors LLC now owns 8,140 shares of the company’s stock valued at $1,391,000 after buying an additional 6,712 shares in the last quarter. Finally, Van ECK Associates Corp raised its stake in shares of Zscaler by 1,786.5% during the 3rd quarter. Van ECK Associates Corp now owns 15,073 shares of the company’s stock worth $2,728,000 after buying an additional 14,274 shares during the last quarter. 46.45% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently commented on ZS shares. Piper Sandler dropped 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. Wedbush cut their price objective on shares of Zscaler from $260.00 to $220.00 and set an “outperform” rating for the company in a research report on Wednesday, September 4th. UBS Group decreased their target price on shares of Zscaler from $270.00 to $250.00 and set a “buy” rating on the stock in a research report on Wednesday, September 4th. Loop Capital cut their price target on Zscaler from $180.00 to $165.00 and set a “hold” rating for the company in a report on Wednesday, September 4th. Finally, Needham & Company LLC decreased their price objective on Zscaler from $290.00 to $235.00 and set a “strong-buy” rating on the stock in a report on Wednesday, September 4th. Ten analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $218.55.

Insider Transactions at Zscaler

In other Zscaler news, CFO Remo Canessa sold 8,455 shares of Zscaler 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 transaction, the chief financial officer now owns 231,793 shares in the company, valued at approximately $39,701,505.04. The trade was a 3.52 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Robert Schlossman sold 1,435 shares of the firm’s stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $181.70, for a total value of $260,739.50. Following the sale, the insider now directly owns 105,806 shares of the company’s stock, valued at approximately $19,224,950.20. This represents a 1.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 30,502 shares of company stock valued at $5,256,651. Corporate insiders own 19.20% of the company’s stock.

Zscaler Stock Up 1.8 %

ZS opened at $210.96 on Friday. The firm has a market cap of $32.17 billion, a price-to-earnings ratio of -527.39 and a beta of 0.82. The company’s 50-day moving average price is $186.49 and its 200 day moving average price is $183.60. Zscaler, Inc. has a fifty-two week low of $153.45 and a fifty-two week high of $259.61.

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

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.