Sumitomo Mitsui DS Asset Management Company Ltd Sells 1,696 Shares of Zscaler, Inc. (NASDAQ:ZS)

Sumitomo Mitsui DS Asset Management Company Ltd reduced its holdings in Zscaler, Inc. (NASDAQ:ZS) by 7.4% in the fourth quarter, HoldingsChannel reports. The firm owned 21,314 shares of the company’s stock after selling 1,696 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Zscaler were worth $4,722,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in ZS. BluePath Capital Management LLC acquired a new stake in shares of Zscaler in the 3rd quarter valued at about $32,000. Livforsakringsbolaget Skandia Omsesidigt grew its stake in Zscaler by 109.0% in the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 209 shares of the company’s stock valued at $46,000 after acquiring an additional 109 shares during the period. Lindbrook Capital LLC increased its holdings in shares of Zscaler by 41.1% during the fourth quarter. Lindbrook Capital LLC now owns 237 shares of the company’s stock valued at $53,000 after acquiring an additional 69 shares in the last quarter. Allworth Financial LP raised its position in shares of Zscaler by 175.4% during the fourth quarter. Allworth Financial LP now owns 380 shares of the company’s stock worth $84,000 after purchasing an additional 242 shares during the period. Finally, China Universal Asset Management Co. Ltd. lifted its holdings in shares of Zscaler by 231.7% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 544 shares of the company’s stock worth $85,000 after purchasing an additional 380 shares in the last quarter. 46.45% of the stock is owned by institutional investors and hedge funds.

Zscaler Stock Performance

Shares of ZS stock opened at $170.97 on Tuesday. The firm’s 50 day moving average is $204.42 and its 200 day moving average is $203.48. The stock has a market capitalization of $25.63 billion, a P/E ratio of -179.97 and a beta of 0.81. Zscaler, Inc. has a 12 month low of $84.93 and a 12 month high of $259.61. The company has a current ratio of 1.98, a quick ratio of 1.98 and a debt-to-equity ratio of 1.19.

Zscaler (NASDAQ:ZS) last posted its earnings results on Thursday, February 29th. The company reported ($0.16) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.24) by $0.08. Zscaler had a negative return on equity of 14.60% and a negative net margin of 7.32%. The firm had revenue of $525.00 million for the quarter, compared to the consensus estimate of $507.56 million. On average, sell-side analysts anticipate that Zscaler, Inc. will post -0.81 earnings per share for the current year.

Insider Activity

In other news, insider Syam Nair sold 2,893 shares of the company’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $193.15, for a total value of $558,782.95. Following the transaction, the insider now owns 137,294 shares of the company’s stock, valued at $26,518,336.10. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, CFO Remo Canessa sold 7,707 shares of the stock in a transaction on Monday, March 18th. The shares were sold at an average price of $193.15, for a total value of $1,488,607.05. Following the transaction, the chief financial officer now owns 255,943 shares of the company’s stock, valued at approximately $49,435,390.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Syam Nair sold 2,893 shares of Zscaler stock in a transaction on Monday, March 18th. The stock was sold at an average price of $193.15, for a total transaction of $558,782.95. Following the sale, the insider now directly owns 137,294 shares of the company’s stock, valued at $26,518,336.10. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 26,715 shares of company stock worth $5,865,882. 19.20% of the stock is owned by company insiders.

Analysts Set New Price Targets

ZS has been the subject of a number of recent research reports. The Goldman Sachs Group boosted their price target on shares of Zscaler from $189.00 to $215.00 and gave the company a “neutral” rating in a research note on Monday, March 4th. Citigroup boosted their target price on shares of Zscaler from $235.00 to $265.00 and gave the stock a “buy” rating in a research report on Wednesday, January 10th. Oppenheimer raised their price target on shares of Zscaler from $245.00 to $290.00 and gave the company an “outperform” rating in a research report on Wednesday, January 3rd. JPMorgan Chase & Co. boosted their price objective on Zscaler from $212.00 to $240.00 and gave the stock a “neutral” rating in a report on Monday, February 26th. Finally, Robert W. Baird raised their target price on Zscaler from $255.00 to $265.00 and gave the company an “outperform” rating in a report on Friday, March 1st. Five investment analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $230.24.

About Zscaler

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.