Principal Financial Group Inc. Purchases 363 Shares of Zscaler, Inc. (NASDAQ:ZS)

Principal Financial Group Inc. boosted its position in shares of Zscaler, Inc. (NASDAQ:ZSFree Report) by 3.5% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 10,790 shares of the company’s stock after purchasing an additional 363 shares during the quarter. Principal Financial Group Inc.’s holdings in Zscaler were worth $1,679,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the company. Venturi Wealth Management LLC bought a new stake in shares of Zscaler during the 3rd quarter valued at $200,000. Nisa Investment Advisors LLC raised its position in shares of Zscaler by 24.4% during the 3rd quarter. Nisa Investment Advisors LLC now owns 765 shares of the company’s stock valued at $119,000 after acquiring an additional 150 shares during the last quarter. M&T Bank Corp raised its position in shares of Zscaler by 2.6% during the 3rd quarter. M&T Bank Corp now owns 3,079 shares of the company’s stock valued at $479,000 after acquiring an additional 79 shares during the last quarter. DB Fitzpatrick & Co Inc raised its position in shares of Zscaler by 2.0% during the 3rd quarter. DB Fitzpatrick & Co Inc now owns 4,835 shares of the company’s stock valued at $752,000 after acquiring an additional 93 shares during the last quarter. Finally, Daiwa Securities Group Inc. raised its position in shares of Zscaler by 15.3% during the 3rd quarter. Daiwa Securities Group Inc. now owns 11,764 shares of the company’s stock valued at $1,830,000 after acquiring an additional 1,563 shares during the last quarter. Institutional investors and hedge funds own 46.45% of the company’s stock.

Zscaler Trading Up 2.2 %

Shares of NASDAQ:ZS opened at $254.93 on Friday. Zscaler, Inc. has a 52-week low of $84.93 and a 52-week high of $259.61. The company has a market capitalization of $37.81 billion, a P/E ratio of -219.77 and a beta of 0.86. The company has a 50-day simple moving average of $225.00 and a 200 day simple moving average of $183.50. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.96 and a current ratio of 1.96.

Zscaler (NASDAQ:ZSGet Free Report) last issued its earnings results on Monday, November 27th. The company reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.49 by $0.18. Zscaler had a negative net margin of 9.54% and a negative return on equity of 21.39%. The business had revenue of $496.70 million during the quarter, compared to the consensus estimate of $473.36 million. During the same period last year, the business posted ($0.47) EPS. Zscaler’s revenue was up 39.7% on a year-over-year basis. Sell-side analysts forecast that Zscaler, Inc. will post -0.94 earnings per share for the current year.

Analyst Ratings Changes

Several analysts have commented on the stock. Piper Sandler upped their target price on shares of Zscaler from $190.00 to $220.00 and gave the company an “overweight” rating in a research report on Tuesday, November 28th. Sanford C. Bernstein initiated coverage on shares of Zscaler in a research report on Thursday, January 18th. They issued an “outperform” rating and a $311.00 price objective for the company. Evercore ISI upped their price objective on shares of Zscaler from $200.00 to $215.00 and gave the company an “outperform” rating in a research report on Tuesday, November 28th. JMP Securities upped their price objective on shares of Zscaler from $225.00 to $270.00 and gave the company a “market outperform” rating in a research report on Wednesday, January 31st. Finally, TD Cowen upped their price objective on shares of Zscaler from $195.00 to $215.00 and gave the company an “outperform” rating in a research report on Tuesday, November 28th. Eight equities research analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $210.51.

View Our Latest Stock Analysis on Zscaler

Insider Activity at Zscaler

In other Zscaler news, Director Amit Sinha sold 3,680 shares of the firm’s stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $183.94, for a total transaction of $676,899.20. Following the completion of the sale, the director now directly owns 36,800 shares in the company, valued at $6,768,992. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Zscaler news, Director Amit Sinha sold 3,680 shares of the firm’s stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $183.94, for a total transaction of $676,899.20. Following the completion of the sale, the director now directly owns 36,800 shares in the company, valued at $6,768,992. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Karen Blasing sold 7,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 22nd. The stock was sold at an average price of $191.20, for a total transaction of $1,338,400.00. Following the sale, the director now owns 19,398 shares of the company’s stock, valued at $3,708,897.60. The disclosure for this sale can be found here. In the last ninety days, insiders sold 150,332 shares of company stock worth $31,166,722. Insiders own 19.20% of the company’s stock.

Zscaler Company Profile

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding ZS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Zscaler, Inc. (NASDAQ:ZSFree Report).

Institutional Ownership by Quarter for Zscaler (NASDAQ:ZS)

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