Zscaler, Inc. (NASDAQ:ZS) Shares Acquired by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. lifted its position in Zscaler, Inc. (NASDAQ:ZS) by 2.0% in the third quarter, Holdings Channel reports. The firm owned 218,116 shares of the company’s stock after acquiring an additional 4,330 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Zscaler were worth $37,285,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the company. International Assets Investment Management LLC increased its stake in Zscaler by 13,498.6% in the third quarter. International Assets Investment Management LLC now owns 285,299 shares of the company’s stock valued at $48,769,000 after purchasing an additional 283,201 shares during the period. Quadrature Capital Ltd acquired a new position in Zscaler in the 1st quarter valued at about $47,217,000. GuoLine Advisory Pte Ltd purchased a new stake in Zscaler during the 3rd quarter valued at approximately $32,660,000. Massachusetts Financial Services Co. MA acquired a new stake in Zscaler during the 2nd quarter worth approximately $25,287,000. Finally, Vanguard Group Inc. grew its stake in shares of Zscaler by 1.3% in the 1st quarter. Vanguard Group Inc. now owns 8,961,774 shares of the company’s stock valued at $1,726,307,000 after purchasing an additional 118,002 shares during the last quarter. Hedge funds and other institutional investors own 46.45% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on ZS shares. Oppenheimer decreased their price target on Zscaler from $260.00 to $230.00 and set an “outperform” rating for the company in a report on Wednesday, September 4th. Bank of America lowered shares of Zscaler from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $265.00 to $195.00 in a research note on Wednesday, September 4th. Stifel Nicolaus lifted their price target on Zscaler from $220.00 to $235.00 and gave the company a “buy” rating in a research note on Thursday. BNP Paribas began coverage on Zscaler in a research report on Tuesday, October 8th. They issued a “neutral” rating and a $180.00 price objective for the company. Finally, Loop Capital lowered their price target on shares of Zscaler from $180.00 to $165.00 and set a “hold” rating on the stock in a research note on Wednesday, September 4th. Ten equities research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $217.18.

Zscaler Stock Performance

ZS stock opened at $201.47 on Friday. The company has a 50 day moving average price of $182.23 and a two-hundred day moving average price of $182.58. The stock has a market capitalization of $30.72 billion, a P/E ratio of -503.66 and a beta of 0.82. Zscaler, Inc. has a one year low of $153.45 and a one year high of $259.61.

Zscaler (NASDAQ:ZS) last announced its quarterly earnings data on Tuesday, September 3rd. The company reported ($0.05) 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 business had revenue of $592.90 million during the quarter, compared to the consensus estimate of $567.46 million. During the same quarter in the previous year, the business earned ($0.17) earnings per share. The business’s revenue for the quarter was up 30.3% on a year-over-year basis. Research analysts forecast that Zscaler, Inc. will post -0.95 earnings per share for the current fiscal year.

Insider Transactions at Zscaler

In other news, insider Robert Schlossman sold 1,435 shares of the firm’s stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $181.70, for a total value of $260,739.50. Following the transaction, the insider now 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 sale was disclosed in a legal filing with the SEC, which is available at this link. 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 value of $488,490.56. Following the completion of the transaction, the chief executive officer now directly owns 361,432 shares in the company, valued at $61,906,072.96. This trade represents a 0.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 30,502 shares of company stock worth $5,256,651 in the last three months. Company insiders own 19.20% of the company’s stock.

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.