Sumitomo Mitsui DS Asset Management Company Ltd Cuts Stock Position in Zscaler, Inc. (NASDAQ:ZS)

Sumitomo Mitsui DS Asset Management Company Ltd lessened its stake in Zscaler, Inc. (NASDAQ:ZSGet Rating) by 17.7% during the 2nd quarter, Holdings Channel.com reports. The firm owned 16,887 shares of the company’s stock after selling 3,643 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Zscaler were worth $2,525,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Golden Green Inc. grew its stake in shares of Zscaler by 251.5% during the second quarter. Golden Green Inc. now owns 3,708 shares of the company’s stock worth $554,000 after acquiring an additional 2,653 shares during the last quarter. Diversified Trust Co grew its stake in shares of Zscaler by 32.1% during the second quarter. Diversified Trust Co now owns 7,487 shares of the company’s stock worth $1,119,000 after acquiring an additional 1,819 shares during the last quarter. Archford Capital Strategies LLC grew its stake in shares of Zscaler by 1.6% during the second quarter. Archford Capital Strategies LLC now owns 4,212 shares of the company’s stock worth $630,000 after acquiring an additional 66 shares during the last quarter. Riverbridge Partners LLC purchased a new stake in shares of Zscaler during the second quarter worth about $641,000. Finally, 180 Wealth Advisors LLC grew its stake in shares of Zscaler by 0.6% during the second quarter. 180 Wealth Advisors LLC now owns 13,449 shares of the company’s stock worth $2,090,000 after acquiring an additional 82 shares during the last quarter. Hedge funds and other institutional investors own 45.51% of the company’s stock.

Insider Transactions at Zscaler

In other news, insider Robert Schlossman sold 8,045 shares of the stock in a transaction on Friday, September 16th. The stock was sold at an average price of $167.97, for a total transaction of $1,351,318.65. Following the completion of the transaction, the insider now directly owns 135,381 shares in the company, valued at approximately $22,739,946.57. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CEO Jagtar Singh Chaudhry sold 81,890 shares of the stock in a transaction on Friday, September 16th. The stock was sold at an average price of $167.97, for a total transaction of $13,755,063.30. Following the completion of the transaction, the chief executive officer now directly owns 281,107 shares in the company, valued at approximately $47,217,542.79. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Robert Schlossman sold 8,045 shares of the stock in a transaction dated Friday, September 16th. The stock was sold at an average price of $167.97, for a total value of $1,351,318.65. Following the transaction, the insider now directly owns 135,381 shares in the company, valued at approximately $22,739,946.57. The disclosure for this sale can be found here. In the last ninety days, insiders sold 151,514 shares of company stock worth $25,449,807. 20.30% of the stock is currently owned by company insiders.

Zscaler Price Performance

Shares of NASDAQ:ZS opened at $162.56 on Friday. The company has a debt-to-equity ratio of 1.69, a quick ratio of 1.99 and a current ratio of 1.99. The business has a fifty day moving average of $164.14 and a two-hundred day moving average of $176.93. Zscaler, Inc. has a 52-week low of $125.12 and a 52-week high of $376.11.

Zscaler (NASDAQ:ZSGet Rating) last issued its earnings results on Thursday, September 8th. The company reported $0.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.05. The company had revenue of $318.06 million during the quarter, compared to analysts’ expectations of $305.54 million. Zscaler had a negative return on equity of 55.59% and a negative net margin of 35.77%. The firm’s quarterly revenue was up 61.4% on a year-over-year basis. During the same period in the prior year, the business earned ($0.48) EPS. As a group, sell-side analysts predict that Zscaler, Inc. will post -2.17 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently commented on ZS. Cowen dropped their target price on Zscaler from $405.00 to $194.00 and set a “buy” rating on the stock in a research report on Friday, May 27th. Stifel Nicolaus upped their target price on Zscaler from $200.00 to $210.00 and gave the company a “buy” rating in a research report on Friday, September 9th. Cowen dropped their target price on Zscaler from $405.00 to $194.00 and set an “outperform” rating on the stock in a research report on Friday, May 27th. Stephens upped their target price on Zscaler from $200.00 to $210.00 and gave the company an “overweight” rating in a research report on Friday, September 9th. Finally, Jefferies Financial Group began coverage on Zscaler in a research report on Thursday, September 15th. They issued a “hold” rating and a $200.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty-six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Zscaler currently has an average rating of “Moderate Buy” and an average price target of $235.03.

Zscaler Company Profile

(Get Rating)

Zscaler, Inc operates as a cloud security company worldwide. It 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.

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Institutional Ownership by Quarter for Zscaler (NASDAQ:ZS)

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