Sumitomo Mitsui DS Asset Management Company Ltd Has $2.50 Million Stock Holdings in Zscaler, Inc. (NASDAQ:ZS)

Sumitomo Mitsui DS Asset Management Company Ltd lowered its stake in shares of Zscaler, Inc. (NASDAQ:ZS) by 29.4% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 14,651 shares of the company’s stock after selling 6,113 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Zscaler were worth $2,504,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. EverSource Wealth Advisors LLC grew its stake in shares of Zscaler by 8.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 832 shares of the company’s stock valued at $149,000 after buying an additional 66 shares in the last quarter. Kovack Advisors Inc. increased its stake in shares of Zscaler by 3.4% during the 1st quarter. Kovack Advisors Inc. now owns 2,042 shares of the company’s stock worth $393,000 after purchasing an additional 67 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of Zscaler by 21.3% during the 2nd quarter. GAMMA Investing LLC now owns 382 shares of the company’s stock valued at $73,000 after purchasing an additional 67 shares in the last quarter. American Trust lifted its stake in shares of Zscaler by 6.1% in the 2nd quarter. American Trust now owns 1,210 shares of the company’s stock valued at $233,000 after purchasing an additional 70 shares during the last quarter. Finally, Swedbank AB lifted its stake in shares of Zscaler by 0.8% in the 2nd quarter. Swedbank AB now owns 9,036 shares of the company’s stock valued at $1,737,000 after purchasing an additional 76 shares during the last quarter. 46.45% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ZS has been the topic of several recent research reports. Piper Sandler cut their target price on Zscaler from $255.00 to $215.00 and set an “overweight” rating on the stock in a report on Wednesday, September 4th. Wedbush reduced their target price on Zscaler from $260.00 to $220.00 and set an “outperform” rating for the company in a report on Wednesday, September 4th. BMO Capital Markets decreased their target price on Zscaler from $208.00 to $197.00 and set an “outperform” rating for the company in a research report on Wednesday, September 4th. Barclays dropped their price target on shares of Zscaler from $230.00 to $200.00 and set an “overweight” rating on the stock in a research report on Wednesday, September 4th. Finally, Needham & Company LLC decreased their price objective on shares of Zscaler from $290.00 to $235.00 and set a “strong-buy” rating for the company 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’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $216.73.

Insiders Place Their Bets

In related news, insider Robert Schlossman sold 1,435 shares of the stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $181.70, for a total transaction of $260,739.50. Following the sale, the insider now directly owns 105,806 shares in the company, valued at $19,224,950.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Robert Schlossman sold 1,435 shares of the company’s stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $181.70, for a total transaction of $260,739.50. Following the transaction, the insider now owns 105,806 shares in the company, valued at $19,224,950.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jagtar Singh Chaudhry sold 2,852 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $171.28, for a total transaction of $488,490.56. Following the completion of the sale, the chief executive officer now owns 361,432 shares of the company’s stock, valued at $61,906,072.96. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 30,502 shares of company stock valued at $5,256,651. 19.20% of the stock is currently owned by insiders.

Zscaler Trading Down 1.1 %

Shares of ZS opened at $187.96 on Tuesday. The stock has a market cap of $28.41 billion, a PE ratio of -368.55 and a beta of 0.82. Zscaler, Inc. has a 1 year low of $152.60 and a 1 year high of $259.61. The stock has a 50 day simple moving average of $180.78 and a 200-day simple moving average of $180.66.

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, beating 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 company had revenue of $592.90 million during the quarter, compared to analysts’ expectations of $567.46 million. During the same period last year, the business earned ($0.17) earnings per share. The business’s revenue was up 30.3% on a year-over-year basis. On average, sell-side analysts forecast that Zscaler, Inc. will post -0.95 EPS for the current fiscal 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.