CIBC Asset Management Inc Purchases 1,611 Shares of Zscaler, Inc. (NASDAQ:ZS)

CIBC Asset Management Inc grew its position in Zscaler, Inc. (NASDAQ:ZS - Free Report) by 5.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 31,385 shares of the company's stock after acquiring an additional 1,611 shares during the quarter. CIBC Asset Management Inc's holdings in Zscaler were worth $5,662,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of ZS. KRS Capital Management LLC lifted its position in shares of Zscaler by 1.9% during the 4th quarter. KRS Capital Management LLC now owns 3,261 shares of the company's stock worth $588,000 after buying an additional 60 shares during the period. GAMMA Investing LLC lifted its position in shares of Zscaler by 18.5% during the 4th quarter. GAMMA Investing LLC now owns 448 shares of the company's stock worth $81,000 after buying an additional 70 shares during the period. Avior Wealth Management LLC lifted its position in shares of Zscaler by 50.7% during the 4th quarter. Avior Wealth Management LLC now owns 214 shares of the company's stock worth $39,000 after buying an additional 72 shares during the period. Choreo LLC lifted its position in shares of Zscaler by 2.6% during the 4th quarter. Choreo LLC now owns 2,833 shares of the company's stock worth $517,000 after buying an additional 73 shares during the period. Finally, Valley Brook Capital Group Inc. lifted its position in shares of Zscaler by 4.0% during the 3rd quarter. Valley Brook Capital Group Inc. now owns 1,972 shares of the company's stock worth $337,000 after buying an additional 75 shares during the period. Institutional investors own 46.45% of the company's stock.

Zscaler Trading Down 4.1 %

Shares of Zscaler stock traded down $8.41 during trading on Friday, reaching $198.56. The stock had a trading volume of 1,986,503 shares, compared to its average volume of 1,499,615. The company has a market capitalization of $30.47 billion, a price-to-earnings ratio of -794.24 and a beta of 0.89. The stock has a fifty day moving average price of $195.38 and a two-hundred day moving average price of $190.54. Zscaler, Inc. has a 52 week low of $153.45 and a 52 week high of $251.55.

Zscaler (NASDAQ:ZS - Get Free Report) last released its earnings results on Monday, December 2nd. The company reported $0.77 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.63 by $0.14. The business had revenue of $628.00 million for the quarter, compared to the consensus estimate of $605.51 million. Zscaler had a negative return on equity of 0.75% and a negative net margin of 1.58%. Zscaler's quarterly revenue was up 26.4% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.18) earnings per share. On average, equities analysts forecast that Zscaler, Inc. will post -0.1 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Remo Canessa sold 3,703 shares of the business's stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $200.32, for a total value of $741,784.96. Following the completion of the sale, the chief financial officer now directly owns 220,635 shares in the company, valued at approximately $44,197,603.20. The trade was a 1.65 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Syam Nair sold 3,682 shares of the business's stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $200.32, for a total value of $737,578.24. Following the completion of the sale, the insider now owns 142,866 shares of the company's stock, valued at approximately $28,618,917.12. This trade represents a 2.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 10,248 shares of company stock valued at $2,052,879 over the last 90 days. 18.10% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

ZS has been the subject of several analyst reports. Royal Bank of Canada restated an "outperform" rating and set a $230.00 target price on shares of Zscaler in a research report on Tuesday, December 3rd. JPMorgan Chase & Co. raised their target price on Zscaler from $220.00 to $240.00 and gave the stock an "overweight" rating in a research report on Friday, November 29th. Stifel Nicolaus raised their target price on Zscaler from $220.00 to $235.00 and gave the stock a "buy" rating in a research report on Thursday, November 14th. Wells Fargo & Company raised their price target on Zscaler from $180.00 to $190.00 and gave the company an "equal weight" rating in a report on Wednesday, December 4th. Finally, Guggenheim reaffirmed a "neutral" rating on shares of Zscaler in a report on Tuesday, December 3rd. Eleven analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $226.56.

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.