Nordea Investment Management AB Decreases Stock Holdings in Zscaler, Inc. (NASDAQ:ZS)

Nordea Investment Management AB cut its holdings in shares of Zscaler, Inc. (NASDAQ:ZS - Free Report) by 57.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 79,755 shares of the company's stock after selling 105,885 shares during the period. Nordea Investment Management AB owned 0.05% of Zscaler worth $14,516,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in ZS. Victory Capital Management Inc. lifted its stake in shares of Zscaler by 9.2% during the second quarter. Victory Capital Management Inc. now owns 130,139 shares of the company's stock worth $25,011,000 after buying an additional 11,012 shares during the period. Private Advisor Group LLC lifted its holdings in shares of Zscaler by 878.9% during the second quarter. Private Advisor Group LLC now owns 20,655 shares of the company's stock worth $3,970,000 after purchasing an additional 18,545 shares during the period. Savant Capital LLC acquired a new position in Zscaler in the 2nd quarter worth approximately $633,000. Oak Thistle LLC acquired a new stake in Zscaler during the 2nd quarter valued at approximately $271,000. Finally, Quest Partners LLC acquired a new stake in shares of Zscaler in the second quarter worth $28,000. Hedge funds and other institutional investors own 46.45% of the company's stock.

Zscaler Price Performance

Shares of NASDAQ:ZS traded up $3.38 during trading on Thursday, hitting $187.28. 1,686,806 shares of the company were exchanged, compared to its average volume of 1,389,755. The firm's 50 day moving average price is $196.59 and its 200-day moving average price is $188.10. The stock has a market capitalization of $28.74 billion, a P/E ratio of -749.12 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 released its quarterly earnings data on Monday, December 2nd. The company reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $628.00 million during the quarter, compared to the consensus estimate of $605.51 million. During the same quarter in the prior year, the firm posted ($0.18) earnings per share. Zscaler's revenue for the quarter was up 26.4% on a year-over-year basis. As a group, equities research analysts anticipate that Zscaler, Inc. will post -0.24 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. BTIG Research increased their price target on Zscaler from $205.00 to $238.00 and gave the stock a "buy" rating in a research report on Wednesday, November 27th. JMP Securities reiterated a "market outperform" rating and set a $240.00 price target (down from $270.00) on shares of Zscaler in a research report on Tuesday, December 3rd. BNP Paribas started coverage on Zscaler in a research report on Tuesday, October 8th. They issued a "neutral" rating and a $180.00 price objective on the stock. Guggenheim reaffirmed a "neutral" rating on shares of Zscaler in a report on Tuesday, December 3rd. Finally, Citigroup increased their price target on shares of Zscaler from $230.00 to $235.00 and gave the stock a "buy" rating in a report on Wednesday, December 4th. 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.com, Zscaler has an average rating of "Moderate Buy" and an average price target of $224.84.

Insider Buying and Selling

In related news, CFO Remo Canessa sold 3,703 shares of the stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $200.32, for a total transaction of $741,784.96. Following the completion of the sale, the chief financial officer now directly owns 220,635 shares of the company's stock, valued at $44,197,603.20. This trade represents a 1.65 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Syam Nair sold 3,682 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 $737,578.24. Following the completion of the transaction, the insider now owns 142,866 shares in the company, 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 10,248 shares of company stock worth $2,052,879 in the last quarter. 18.10% of the stock is owned by insiders.

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.