Zscaler, Inc. (NASDAQ:ZS) Shares Sold by Plato Investment Management Ltd

Plato Investment Management Ltd cut its holdings in shares of Zscaler, Inc. (NASDAQ:ZS - Free Report) by 54.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,191 shares of the company's stock after selling 2,665 shares during the quarter. Plato Investment Management Ltd's holdings in Zscaler were worth $374,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in Zscaler by 1.3% in the 1st quarter. Vanguard Group Inc. now owns 8,961,774 shares of the company's stock valued at $1,726,307,000 after purchasing an additional 118,002 shares during the period. Bank of New York Mellon Corp increased its stake in Zscaler by 5.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 496,047 shares of the company's stock worth $95,335,000 after acquiring an additional 25,181 shares during the last quarter. Federated Hermes Inc. raised its holdings in shares of Zscaler by 18.3% in the 2nd quarter. Federated Hermes Inc. now owns 394,698 shares of the company's stock valued at $75,857,000 after acquiring an additional 61,037 shares in the last quarter. Acadian Asset Management LLC boosted its position in shares of Zscaler by 0.9% during the 1st quarter. Acadian Asset Management LLC now owns 336,197 shares of the company's stock valued at $64,744,000 after acquiring an additional 2,937 shares during the last quarter. Finally, Ensign Peak Advisors Inc grew its holdings in shares of Zscaler by 14.4% during the second quarter. Ensign Peak Advisors Inc now owns 295,525 shares of the company's stock worth $56,797,000 after purchasing an additional 37,137 shares in the last quarter. Institutional investors own 46.45% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the company. Needham & Company LLC decreased their price objective on Zscaler from $290.00 to $235.00 and set a "strong-buy" rating on the stock in a report on Wednesday, September 4th. Susquehanna restated a "positive" rating and issued a $210.00 price objective on shares of Zscaler in a report on Thursday, September 5th. JPMorgan Chase & Co. reduced their target price on shares of Zscaler from $230.00 to $220.00 and set an "overweight" rating on the stock in a report on Wednesday, September 4th. Stifel Nicolaus upped their price target on shares of Zscaler from $220.00 to $235.00 and gave the company a "buy" rating in a research report on Thursday. Finally, BMO Capital Markets decreased their price objective on Zscaler from $208.00 to $197.00 and set an "outperform" rating on the stock in a report on Wednesday, September 4th. Ten investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $217.18.

Insider Activity at Zscaler

In other news, CEO Jagtar Singh Chaudhry sold 2,852 shares of Zscaler stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $171.28, for a total transaction 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. This trade represents a 0.78 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Robert Schlossman sold 1,435 shares of Zscaler stock in a transaction that occurred 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 sale, the insider now directly owns 105,806 shares of the company's stock, valued at $19,224,950.20. This represents a 1.34 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 30,502 shares of company stock valued at $5,256,651. Insiders own 19.20% of the company's stock.

Zscaler Price Performance

NASDAQ ZS traded down $7.03 on Friday, reaching $201.47. 1,346,897 shares of the stock were exchanged, compared to its average volume of 2,031,968. Zscaler, Inc. has a one year low of $153.45 and a one year high of $259.61. The company's 50-day simple moving average is $181.34 and its two-hundred day simple moving average is $182.36.

Zscaler (NASDAQ:ZS - Get Free Report) last issued its earnings results on Tuesday, September 3rd. The company reported ($0.05) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.14) by $0.09. The company 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 firm's quarterly revenue was up 30.3% on a year-over-year basis. During the same quarter last year, the company earned ($0.17) EPS. As a group, research analysts anticipate that Zscaler, Inc. will post -0.95 earnings per share for the current year.

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.