Principal Securities Inc. Cuts Stock Position in Zscaler, Inc. (NASDAQ:ZS)

Principal Securities Inc. decreased its holdings in shares of Zscaler, Inc. (NASDAQ:ZS) by 20.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,100 shares of the company’s stock after selling 280 shares during the quarter. Principal Securities Inc.’s holdings in Zscaler were worth $198,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. bLong Financial LLC purchased a new stake in shares of Zscaler during the fourth quarter valued at approximately $345,000. Rhumbline Advisers grew its holdings in Zscaler by 0.5% during the 4th quarter. Rhumbline Advisers now owns 128,579 shares of the company’s stock valued at $23,197,000 after purchasing an additional 629 shares in the last quarter. Asset Management One Co. Ltd. increased its stake in Zscaler by 0.6% during the 4th quarter. Asset Management One Co. Ltd. now owns 77,298 shares of the company’s stock worth $14,266,000 after buying an additional 432 shares during the period. Van ECK Associates Corp lifted its holdings in Zscaler by 92.7% in the 4th quarter. Van ECK Associates Corp now owns 29,051 shares of the company’s stock worth $5,241,000 after buying an additional 13,978 shares in the last quarter. Finally, Weatherly Asset Management L. P. increased its position in shares of Zscaler by 35.1% during the fourth quarter. Weatherly Asset Management L. P. now owns 12,740 shares of the company’s stock worth $2,298,000 after acquiring an additional 3,310 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 have recently weighed in on ZS shares. JMP Securities reissued a “market outperform” rating and set a $240.00 price target (down previously from $270.00) on shares of Zscaler in a research report on Tuesday, December 3rd. Piper Sandler boosted their target price on shares of Zscaler from $215.00 to $235.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 3rd. Needham & Company LLC reaffirmed a “buy” rating and set a $240.00 price target on shares of Zscaler in a research report on Friday, January 10th. Loop Capital lowered their price objective on Zscaler from $200.00 to $195.00 and set a “hold” rating for the company in a report on Tuesday, December 3rd. Finally, Scotiabank increased their target price on Zscaler from $205.00 to $225.00 and gave the stock a “sector outperform” rating in a report on Tuesday, January 21st. Eleven analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the stock. According to MarketBeat, Zscaler currently has an average rating of “Moderate Buy” and an average target price of $226.56.

Zscaler Trading Down 0.8 %

Shares of ZS opened at $197.05 on Tuesday. The stock has a market cap of $30.24 billion, a PE ratio of -788.20 and a beta of 0.89. Zscaler, Inc. has a 1 year low of $153.45 and a 1 year high of $251.55. The stock has a 50 day simple moving average of $195.23 and a 200-day simple moving average of $191.07.

Zscaler (NASDAQ:ZS) last posted its earnings results on Monday, December 2nd. The company reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.14. The business had revenue of $628.00 million for the quarter, compared to analyst estimates of $605.51 million. Zscaler had a negative net margin of 1.58% and a negative return on equity of 0.75%. The firm’s quarterly revenue was up 26.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.18) EPS. On average, sell-side analysts forecast that Zscaler, Inc. will post -0.1 EPS for the current fiscal year.

Insiders Place Their Bets

In other Zscaler news, CFO Remo Canessa sold 3,703 shares of the company’s stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $200.32, for a total transaction of $741,784.96. Following the transaction, the chief financial officer now directly owns 220,635 shares in the company, valued at approximately $44,197,603.20. This represents a 1.65 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Syam Nair sold 3,682 shares of the business’s stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $200.32, for a total transaction of $737,578.24. Following the sale, the insider now directly owns 142,866 shares of the company’s stock, valued at approximately $28,618,917.12. This trade represents a 2.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 10,248 shares of company stock valued at $2,052,879. 18.10% of the stock is currently owned by corporate insiders.

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.