Cibc World Market Inc. Sells 5,105 Shares of Zscaler, Inc. (NASDAQ:ZS)

Cibc World Market Inc. lowered its holdings in Zscaler, Inc. (NASDAQ:ZSGet Rating) by 72.5% in the 2nd quarter, HoldingsChannel reports. The firm owned 1,940 shares of the company’s stock after selling 5,105 shares during the quarter. Cibc World Market Inc.’s holdings in Zscaler were worth $290,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. Nwam LLC raised its holdings in shares of Zscaler by 4.3% in the 2nd quarter. Nwam LLC now owns 1,452 shares of the company’s stock valued at $241,000 after purchasing an additional 60 shares in the last quarter. Industrial Alliance Investment Management Inc. raised its stake in shares of Zscaler by 4.9% during the 2nd quarter. Industrial Alliance Investment Management Inc. now owns 8,464 shares of the company’s stock worth $1,265,000 after acquiring an additional 396 shares in the last quarter. First Washington CORP raised its stake in shares of Zscaler by 123.6% during the 2nd quarter. First Washington CORP now owns 24,473 shares of the company’s stock worth $3,659,000 after acquiring an additional 13,526 shares in the last quarter. Cerity Partners LLC raised its stake in shares of Zscaler by 4.1% during the 2nd quarter. Cerity Partners LLC now owns 4,034 shares of the company’s stock worth $603,000 after acquiring an additional 159 shares in the last quarter. Finally, Qtron Investments LLC raised its stake in shares of Zscaler by 22.8% during the 2nd quarter. Qtron Investments LLC now owns 1,355 shares of the company’s stock worth $203,000 after acquiring an additional 252 shares in the last quarter. Institutional investors own 45.51% of the company’s stock.

Wall Street Analyst Weigh In

ZS has been the subject of several recent analyst reports. MKM Partners initiated coverage on shares of Zscaler in a research note on Thursday, September 15th. They set a “buy” rating and a $225.00 price objective for the company. Canaccord Genuity Group boosted their price objective on shares of Zscaler from $210.00 to $220.00 in a research note on Friday, September 9th. Needham & Company LLC boosted their price objective on shares of Zscaler from $185.00 to $210.00 and gave the stock a “strong-buy” rating in a research note on Friday, September 9th. Morgan Stanley dropped their target price on shares of Zscaler from $225.00 to $180.00 and set an “overweight” rating on the stock in a research report on Tuesday. Finally, Barclays dropped their target price on shares of Zscaler from $175.00 to $160.00 and set an “equal weight” rating on the stock in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, twenty-seven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Zscaler presently has a consensus rating of “Moderate Buy” and a consensus price target of $227.97.

Zscaler Stock Up 2.4 %

NASDAQ:ZS opened at $140.08 on Thursday. 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 company has a fifty day moving average of $151.33 and a two-hundred day moving average of $154.78. Zscaler, Inc. has a fifty-two week low of $114.21 and a fifty-two week high of $373.74.

Zscaler (NASDAQ:ZSGet Rating) last posted its quarterly earnings data on Thursday, September 8th. The company reported ($0.40) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.63) by $0.23. The company had revenue of $318.06 million during the quarter, compared to analysts’ expectations of $305.54 million. Zscaler had a negative net margin of 35.77% and a negative return on equity of 55.59%. The firm’s revenue for the quarter was up 61.4% on a year-over-year basis. During the same period in the prior year, the business posted ($0.48) earnings per share. On average, equities research analysts forecast that Zscaler, Inc. will post -2.13 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Zscaler news, President Amit Sinha sold 18,974 shares of the company’s stock in a transaction on Friday, September 16th. The shares were sold at an average price of $167.97, for a total transaction of $3,187,062.78. Following the completion of the transaction, the president now directly owns 319,023 shares in the company, valued at $53,586,293.31. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Robert Schlossman sold 8,045 shares of the stock in a transaction dated Friday, September 16th. The shares were sold at an average price of $167.97, for a total value of $1,351,318.65. Following the completion of the sale, the insider now directly owns 135,381 shares in the company, valued at $22,739,946.57. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, President Amit Sinha sold 18,974 shares of the stock in a transaction dated Friday, September 16th. The shares were sold at an average price of $167.97, for a total transaction of $3,187,062.78. Following the completion of the sale, the president now owns 319,023 shares of the company’s stock, valued at $53,586,293.31. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 175,339 shares of company stock worth $29,386,731. Company insiders own 20.30% of the company’s stock.

Zscaler 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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