First Hawaiian Bank Decreases Stock Position in Zscaler, Inc. (NASDAQ:ZS)

First Hawaiian Bank trimmed its position in Zscaler, Inc. (NASDAQ:ZS - Free Report) by 50.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,790 shares of the company's stock after selling 2,815 shares during the quarter. First Hawaiian Bank's holdings in Zscaler were worth $503,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. EverSource Wealth Advisors LLC lifted its holdings in shares of Zscaler by 8.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 832 shares of the company's stock valued at $149,000 after buying an additional 66 shares during the period. American Trust lifted its holdings in Zscaler by 6.1% in the second quarter. American Trust now owns 1,210 shares of the company's stock valued at $233,000 after acquiring an additional 70 shares during the period. GAMMA Investing LLC boosted its position in Zscaler by 18.5% in the 4th quarter. GAMMA Investing LLC now owns 448 shares of the company's stock worth $81,000 after purchasing an additional 70 shares in the last quarter. Valley Brook Capital Group Inc. grew its stake 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 purchasing an additional 75 shares during the period. Finally, Cynosure Group LLC increased its holdings in shares of Zscaler by 4.4% during the 3rd quarter. Cynosure Group LLC now owns 2,131 shares of the company's stock valued at $364,000 after purchasing an additional 89 shares in the last quarter. Institutional investors and hedge funds own 46.45% of the company's stock.

Zscaler Price Performance

Shares of ZS traded up $2.70 during mid-day trading on Friday, reaching $189.98. The company's stock had a trading volume of 2,211,960 shares, compared to its average volume of 1,526,842. The company's 50 day moving average is $196.86 and its 200 day moving average is $188.20. The stock has a market cap of $29.15 billion, a PE ratio of -759.92 and a beta of 0.87. Zscaler, Inc. has a 12-month low of $153.45 and a 12-month high of $259.61.

Zscaler (NASDAQ:ZS - Get Free Report) last posted its earnings results on Monday, December 2nd. The company reported $0.77 EPS for the quarter, beating analysts' consensus estimates of $0.63 by $0.14. Zscaler had a negative net margin of 1.58% and a negative return on equity of 0.75%. The firm had revenue of $628.00 million for the quarter, compared to the consensus estimate of $605.51 million. During the same period last year, the firm posted ($0.18) EPS. The company's revenue was up 26.4% on a year-over-year basis. As a group, sell-side analysts anticipate that Zscaler, Inc. will post -0.24 EPS for the current fiscal year.

Insider Activity

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

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on ZS shares. Cantor Fitzgerald upgraded Zscaler to a "hold" rating in a research report on Monday, November 18th. JPMorgan Chase & Co. increased their target price on Zscaler from $220.00 to $240.00 and gave the company an "overweight" rating in a research report on Friday, November 29th. Piper Sandler boosted their price target on shares of Zscaler from $215.00 to $235.00 and gave the stock an "overweight" rating in a report on Tuesday, December 3rd. Needham & Company LLC restated a "buy" rating and set a $240.00 price objective on shares of Zscaler in a research report on Friday. Finally, Canaccord Genuity Group lifted their target price on shares of Zscaler from $220.00 to $230.00 and gave the company a "buy" rating in a research report on Tuesday, December 3rd. Eleven investment analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $224.84.

Zscaler Profile

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.