Zscaler, Inc. (NASDAQ:ZS) Shares Sold by Gulf International Bank UK Ltd

Gulf International Bank UK Ltd trimmed its holdings in shares of Zscaler, Inc. (NASDAQ:ZS - Free Report) by 48.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,924 shares of the company's stock after selling 6,514 shares during the quarter. Gulf International Bank UK Ltd's holdings in Zscaler were worth $1,183,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Quintet Private Bank Europe S.A. grew its holdings in Zscaler by 18.9% during the 3rd quarter. Quintet Private Bank Europe S.A. now owns 1,070 shares of the company's stock worth $183,000 after acquiring an additional 170 shares in the last quarter. Asset Management One Co. Ltd. lifted its position in shares of Zscaler by 0.8% in the 3rd quarter. Asset Management One Co. Ltd. now owns 76,866 shares of the company's stock worth $13,139,000 after purchasing an additional 630 shares during the period. Klingenstein Fields & Co. LP boosted its stake in shares of Zscaler by 5.2% during the third quarter. Klingenstein Fields & Co. LP now owns 94,026 shares of the company's stock valued at $16,073,000 after purchasing an additional 4,660 shares in the last quarter. TrueWealth Advisors LLC increased its holdings in Zscaler by 31.3% during the third quarter. TrueWealth Advisors LLC now owns 2,133 shares of the company's stock valued at $365,000 after buying an additional 508 shares during the period. Finally, Van ECK Associates Corp raised its stake in Zscaler by 1,786.5% in the third quarter. Van ECK Associates Corp now owns 15,073 shares of the company's stock worth $2,728,000 after buying an additional 14,274 shares in the last quarter. Hedge funds and other institutional investors own 46.45% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on ZS shares. Piper Sandler cut their price target on Zscaler from $255.00 to $215.00 and set an "overweight" rating on the stock in a report on Wednesday, September 4th. BMO Capital Markets reduced their target price on shares of Zscaler from $208.00 to $197.00 and set an "outperform" rating for the company in a report on Wednesday, September 4th. BTIG Research lowered their price target on shares of Zscaler from $220.00 to $205.00 and set a "buy" rating on the stock in a report on Wednesday, September 4th. Wedbush reduced their price objective on shares of Zscaler from $260.00 to $220.00 and set an "outperform" rating for the company in a research note on Wednesday, September 4th. Finally, Barclays decreased their target price on shares of Zscaler from $230.00 to $200.00 and set an "overweight" rating for the company in a research report on Wednesday, September 4th. Ten equities research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $216.73.

Zscaler Stock Performance

Zscaler stock traded down $0.98 during midday trading on Friday, hitting $195.73. 1,062,257 shares of the company were exchanged, compared to its average volume of 2,036,362. Zscaler, Inc. has a fifty-two week low of $153.45 and a fifty-two week high of $259.61. The business has a fifty day simple moving average of $179.05 and a two-hundred day simple moving average of $181.52. The firm has a market capitalization of $29.85 billion, a PE ratio of -489.33 and a beta of 0.82.

Zscaler (NASDAQ:ZS - Get Free Report) last released its earnings results on Tuesday, September 3rd. The company reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.14) by $0.09. The business had revenue of $592.90 million for the quarter, compared to the consensus estimate of $567.46 million. Zscaler had a negative return on equity of 3.46% and a negative net margin of 2.66%. The business's quarterly revenue was up 30.3% compared to the same quarter last year. During the same quarter last year, the business posted ($0.17) earnings per share. As a group, equities analysts expect that Zscaler, Inc. will post -0.95 earnings per share for the current year.

Insider Transactions at Zscaler

In related news, insider Robert Schlossman sold 4,947 shares of Zscaler stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $170.22, for a total transaction of $842,078.34. Following the transaction, the insider now owns 107,241 shares in the company, valued at approximately $18,254,563.02. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CEO Jagtar Singh Chaudhry sold 2,852 shares of the stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $171.28, for a total transaction of $488,490.56. Following the completion of the transaction, the chief executive officer now owns 361,432 shares of the company's stock, valued at approximately $61,906,072.96. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Robert Schlossman sold 4,947 shares of the firm's stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $170.22, for a total value of $842,078.34. Following the transaction, the insider now owns 107,241 shares of the company's stock, valued at $18,254,563.02. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 30,502 shares of company stock worth $5,256,651 in the last ninety days. Insiders own 19.20% of the company's stock.

Zscaler Company 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.