Nomura Asset Management Co. Ltd. Buys 37,801 Shares of Zscaler, Inc. (NASDAQ:ZS)

Nomura Asset Management Co. Ltd. boosted its position in Zscaler, Inc. (NASDAQ:ZS - Free Report) by 11.0% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 380,463 shares of the company's stock after buying an additional 37,801 shares during the period. Nomura Asset Management Co. Ltd. owned approximately 0.25% of Zscaler worth $65,036,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. CWM LLC lifted its holdings in shares of Zscaler by 45.9% in the 2nd quarter. CWM LLC now owns 2,683 shares of the company's stock valued at $516,000 after buying an additional 844 shares during the period. Dynamic Advisor Solutions LLC grew its stake in shares of Zscaler by 36.4% during the 2nd quarter. Dynamic Advisor Solutions LLC now owns 6,163 shares of the company's stock worth $1,184,000 after purchasing an additional 1,646 shares during the period. Wedmont Private Capital purchased a new position in shares of Zscaler in the 2nd quarter valued at about $243,000. Baader Bank Aktiengesellschaft lifted its stake in shares of Zscaler by 65.2% in the second quarter. Baader Bank Aktiengesellschaft now owns 6,607 shares of the company's stock valued at $1,262,000 after purchasing an additional 2,607 shares during the period. Finally, SteelPeak Wealth LLC purchased a new stake in Zscaler during the second quarter worth about $258,000. 46.45% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have commented on ZS shares. Wedbush lowered their target price 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. KeyCorp raised their target price on shares of Zscaler from $245.00 to $250.00 and gave the stock an "overweight" rating in a research report on Tuesday, December 3rd. Canaccord Genuity Group increased their price target on shares of Zscaler from $220.00 to $230.00 and gave the stock a "buy" rating in a research note on Tuesday, December 3rd. Scotiabank boosted their price objective on shares of Zscaler from $195.00 to $205.00 and gave the company a "sector outperform" rating in a research note on Tuesday, December 3rd. Finally, Stifel Nicolaus increased 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. Eleven research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $224.84.

Zscaler Stock Down 2.3 %

Shares of Zscaler stock traded down $4.74 during midday trading on Tuesday, hitting $201.39. The company's stock had a trading volume of 1,805,325 shares, compared to its average volume of 2,058,264. The firm has a market capitalization of $30.90 billion, a P/E ratio of -805.56 and a beta of 0.82. Zscaler, Inc. has a 1-year low of $153.45 and a 1-year high of $259.61. The stock has a 50-day simple moving average of $194.86 and a 200-day simple moving average of $186.25.

Zscaler (NASDAQ:ZS - Get Free Report) last announced its quarterly earnings data on Monday, December 2nd. The company reported $0.77 EPS for the quarter, beating analysts' consensus estimates of $0.63 by $0.14. The firm had revenue of $628.00 million for the quarter, compared to the consensus estimate of $605.51 million. Zscaler had a negative net margin of 1.58% and a negative return on equity of 0.75%. The firm's revenue was up 26.4% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.18) earnings per share. As a group, sell-side analysts predict that Zscaler, Inc. will post -0.31 earnings per share for the current year.

Insider Activity at Zscaler

In related news, CEO Jagtar Singh Chaudhry sold 2,852 shares of the business's stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $171.28, for a total value of $488,490.56. Following the completion of the sale, the chief executive officer now directly owns 361,432 shares in the company, valued at approximately $61,906,072.96. The trade was a 0.78 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Remo Canessa sold 8,455 shares of Zscaler 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 $1,448,172.40. Following the completion of the transaction, the chief financial officer now directly owns 231,793 shares in the company, valued at approximately $39,701,505.04. This represents a 3.52 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 30,502 shares of company stock valued at $5,256,651. 18.10% of the stock is currently owned by corporate insiders.

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.