Intech Investment Management LLC Cuts Stake in Zscaler, Inc. (NASDAQ:ZS)

Intech Investment Management LLC lowered its position in shares of Zscaler, Inc. (NASDAQ:ZS – Get Rating) by 43.0% in the fourth quarter, Holdings Channel reports. The institutional investor owned 6,805 shares of the company’s stock after selling 5,144 shares during the period. Intech Investment Management LLC’s holdings in Zscaler were worth $761,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of the company. LA Financiere DE L Echiquier raised its position in Zscaler by 15.1% during the 4th quarter. LA Financiere DE L Echiquier now owns 226,800 shares of the company’s stock worth $25,379,000 after buying an additional 29,748 shares during the last quarter. Pinebridge Investments L.P. increased its holdings in shares of Zscaler by 16.6% in the 4th quarter. Pinebridge Investments L.P. now owns 24,972 shares of the company’s stock valued at $2,794,000 after purchasing an additional 3,551 shares in the last quarter. First Trust Advisors LP grew its stake in Zscaler by 17.7% in the 4th quarter. First Trust Advisors LP now owns 1,777,929 shares of the company’s stock valued at $198,947,000 after acquiring an additional 267,441 shares during the last quarter. Victory Capital Management Inc. grew its stake in Zscaler by 2.8% in the 4th quarter. Victory Capital Management Inc. now owns 84,873 shares of the company’s stock valued at $10,483,000 after acquiring an additional 2,284 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in Zscaler by 3.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 129,034 shares of the company’s stock valued at $14,438,000 after acquiring an additional 4,335 shares during the last quarter. Hedge funds and other institutional investors own 45.33% of the company’s stock.

Insider Activity at Zscaler

In other Zscaler news, insider Robert Schlossman sold 3,645 shares of the company’s stock in a transaction dated Thursday, March 16th. The shares were sold at an average price of $106.79, for a total transaction of $389,249.55. Following the completion of the sale, the insider now directly owns 132,553 shares of the company’s stock, valued at $14,155,334.87. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, insider Robert Schlossman sold 3,645 shares of the company’s stock in a transaction dated Thursday, March 16th. The stock was sold at an average price of $106.79, for a total value of $389,249.55. Following the transaction, the insider now owns 132,553 shares in the company, valued at approximately $14,155,334.87. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Dali Rajic sold 5,638 shares of the company’s stock in a transaction dated Thursday, March 16th. The shares were sold at an average price of $106.79, for a total value of $602,082.02. Following the completion of the transaction, the chief operating officer now owns 291,182 shares in the company, valued at approximately $31,095,325.78. The disclosure for this sale can be found here. Insiders sold 16,412 shares of company stock worth $1,752,637 in the last 90 days. Corporate insiders own 19.80% of the company’s stock.

Zscaler Stock Performance

Shares of ZS opened at $125.27 on Monday. The firm has a 50-day moving average price of $106.21 and a 200 day moving average price of $117.54. The company has a current ratio of 2.01, a quick ratio of 2.01 and a debt-to-equity ratio of 2.16. Zscaler, Inc. has a 52-week low of $84.93 and a 52-week high of $194.21.

Zscaler (NASDAQ:ZS – Get Rating) last announced its earnings results on Thursday, March 2nd. The company reported ($0.35) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.43) by $0.08. The firm had revenue of $387.60 million during the quarter, compared to analyst estimates of $363.80 million. Zscaler had a negative net margin of 24.08% and a negative return on equity of 50.58%. On average, sell-side analysts predict that Zscaler, Inc. will post -1.19 earnings per share for the current fiscal year.

Analysts Set New Price Targets

ZS has been the topic of several analyst reports. BMO Capital Markets raised their price target on shares of Zscaler from $115.00 to $120.00 in a research note on Tuesday, May 9th. Wedbush decreased their target price on shares of Zscaler from $180.00 to $150.00 in a research report on Friday, March 3rd. 888 restated a “maintains” rating on shares of Zscaler in a report on Tuesday, May 9th. Credit Suisse Group cut their price target on shares of Zscaler from $275.00 to $165.00 and set an “outperform” rating on the stock in a report on Wednesday, March 15th. Finally, JPMorgan Chase & Co. started coverage on shares of Zscaler in a report on Tuesday, January 24th. They issued a “neutral” rating and a $124.00 price target on the stock. Fourteen research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Zscaler currently has a consensus rating of “Moderate Buy” and an average target price of $167.68.

Zscaler Profile

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Zscaler, Inc engages in the provision of a cloud-based internet security platform. It offers Zero Trust Exchange, Zscaler Client Connector, Zscaler Internet Access, Zscaler Private Access, Zscaler B2B, Zscaler Cloud Protection, and Zscaler Digital Experience. The company was founded by Jagtar Singh Chaudhry and K.