Principal Financial Group Inc. Trims Stock Position in Zscaler, Inc. (NASDAQ:ZS)

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

Several other large investors also recently added to or reduced their stakes in the business. Rhumbline Advisers lifted its position in shares of Zscaler by 11.5% during the 2nd quarter. Rhumbline Advisers now owns 134,555 shares of the company’s stock valued at $25,860,000 after buying an additional 13,926 shares in the last quarter. Victory Capital Management Inc. boosted its position in shares of Zscaler by 9.2% in the second quarter. Victory Capital Management Inc. now owns 130,139 shares of the company’s stock worth $25,011,000 after purchasing an additional 11,012 shares during the period. Arizona State Retirement System increased its stake in shares of Zscaler by 0.9% in the second quarter. Arizona State Retirement System now owns 24,699 shares of the company’s stock worth $4,747,000 after purchasing an additional 220 shares in the last quarter. Private Advisor Group LLC raised its position in shares of Zscaler by 878.9% during the 2nd quarter. Private Advisor Group LLC now owns 20,655 shares of the company’s stock valued at $3,970,000 after purchasing an additional 18,545 shares during the period. Finally, North Star Asset Management Inc. lifted its stake in shares of Zscaler by 10.9% during the 2nd quarter. North Star Asset Management Inc. now owns 35,067 shares of the company’s stock valued at $6,740,000 after buying an additional 3,459 shares in the last quarter. 46.45% of the stock is currently owned by institutional investors.

Insider Activity at Zscaler

In other Zscaler news, insider Robert Schlossman sold 1,435 shares of the firm’s stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $181.70, for a total transaction of $260,739.50. Following the completion of the transaction, the insider now directly owns 105,806 shares of the company’s stock, valued at approximately $19,224,950.20. This trade represents a 1.34 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Jagtar Singh Chaudhry sold 2,863 shares of the company’s stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $200.32, for a total transaction of $573,516.16. Following the completion of the sale, the chief executive officer now directly owns 358,569 shares in the company, valued at $71,828,542.08. This trade represents a 0.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 11,683 shares of company stock valued at $2,313,619 in the last three months. 18.10% of the stock is owned by insiders.

Zscaler Stock Performance

NASDAQ:ZS opened at $185.84 on Friday. The stock has a market capitalization of $28.52 billion, a P/E ratio of -743.36 and a beta of 0.87. The company’s 50-day simple moving average is $196.66 and its 200-day simple moving average is $187.94. Zscaler, Inc. has a fifty-two week low of $153.45 and a fifty-two week high of $259.61.

Zscaler (NASDAQ:ZS) last released its quarterly earnings results on Monday, December 2nd. The company reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.14. Zscaler had a negative net margin of 1.58% and a negative return on equity of 0.75%. The business had revenue of $628.00 million for the quarter, compared to analyst estimates of $605.51 million. During the same period in the previous year, the company earned ($0.18) earnings per share. The business’s revenue for the quarter was up 26.4% on a year-over-year basis. On average, research analysts forecast that Zscaler, Inc. will post -0.24 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on ZS. KeyCorp increased their price target on Zscaler from $245.00 to $250.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 3rd. BMO Capital Markets lifted their target price on Zscaler from $197.00 to $222.00 and gave the company an “outperform” rating in a research note on Tuesday, December 3rd. JMP Securities reissued a “market outperform” rating and issued a $240.00 price target (down from $270.00) on shares of Zscaler in a report on Tuesday, December 3rd. Royal Bank of Canada reaffirmed an “outperform” rating and set a $230.00 price objective on shares of Zscaler in a report on Tuesday, December 3rd. Finally, Stifel Nicolaus boosted their target price on shares of Zscaler from $220.00 to $235.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Eleven equities research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $224.84.

Zscaler Company 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.