Sumitomo Mitsui DS Asset Management Company Ltd Cuts Position in Zscaler, Inc. (NASDAQ:ZS)

Sumitomo Mitsui DS Asset Management Company Ltd trimmed its position in shares of Zscaler, Inc. (NASDAQ:ZS - Free Report) by 29.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,651 shares of the company's stock after selling 6,113 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in Zscaler were worth $2,504,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. State Board of Administration of Florida Retirement System grew its position in shares of Zscaler by 6.9% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 103,937 shares of the company's stock valued at $20,021,000 after acquiring an additional 6,683 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of Zscaler by 9.1% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 116,691 shares of the company's stock valued at $22,478,000 after buying an additional 9,689 shares in the last quarter. Wealthcare Advisory Partners LLC increased its holdings in Zscaler by 40.0% in the 1st quarter. Wealthcare Advisory Partners LLC now owns 2,438 shares of the company's stock worth $470,000 after acquiring an additional 696 shares in the last quarter. Norden Group LLC purchased a new position in Zscaler during the first quarter valued at approximately $846,000. Finally, Central Pacific Bank Trust Division bought a new position in shares of Zscaler in the first quarter worth approximately $809,000. Institutional investors own 46.45% of the company's stock.

Insider Buying and Selling

In other Zscaler news, insider Robert Schlossman sold 1,435 shares of the company's stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $181.70, for a total transaction of $260,739.50. Following the completion of the transaction, the insider now directly owns 105,806 shares in the company, valued at approximately $19,224,950.20. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, insider Michael J. Rich sold 4,813 shares of the company's stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $171.28, for a total transaction of $824,370.64. Following the completion of the sale, the insider now owns 103,259 shares of the company's stock, valued at $17,686,201.52. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Robert Schlossman sold 1,435 shares of the business's stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $181.70, for a total transaction of $260,739.50. Following the transaction, the insider now owns 105,806 shares in the company, valued at $19,224,950.20. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 30,502 shares of company stock valued at $5,256,651. 19.20% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

ZS has been the topic of a number of research analyst reports. Barclays lowered their price target on Zscaler from $230.00 to $200.00 and set an "overweight" rating on the stock in a report on Wednesday, September 4th. BMO Capital Markets cut their target price on shares of Zscaler from $208.00 to $197.00 and set an "outperform" rating for the company in a research note on Wednesday, September 4th. Citigroup decreased their price target on shares of Zscaler from $240.00 to $230.00 and set a "buy" rating on the stock in a research note on Friday, October 4th. Rosenblatt Securities restated a "neutral" rating and set a $190.00 price objective on shares of Zscaler in a research report on Wednesday, September 4th. Finally, Wedbush decreased their target price on Zscaler from $260.00 to $220.00 and set an "outperform" rating on the stock in a research report on Wednesday, September 4th. Ten analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, Zscaler has a consensus rating of "Moderate Buy" and a consensus target price of $216.73.

Zscaler Trading Down 1.0 %

Shares of ZS stock traded down $1.80 during mid-day trading on Tuesday, reaching $186.16. The stock had a trading volume of 906,339 shares, compared to its average volume of 2,090,033. Zscaler, Inc. has a 1-year low of $152.60 and a 1-year high of $259.61. The firm has a market cap of $28.14 billion, a price-to-earnings ratio of -365.84 and a beta of 0.82. The business's fifty day moving average is $181.09 and its 200-day moving average is $180.70.

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

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.