Toronto Dominion Bank Sells 1,996,417 Shares of Zscaler, Inc. (NASDAQ:ZS)

Toronto Dominion Bank reduced its stake in shares of Zscaler, Inc. (NASDAQ:ZS - Free Report) by 99.3% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 13,692 shares of the company's stock after selling 1,996,417 shares during the period. Toronto Dominion Bank's holdings in Zscaler were worth $2,341,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Quest Partners LLC bought a new stake in Zscaler in the second quarter worth approximately $28,000. Prestige Wealth Management Group LLC acquired a new position in Zscaler during the third quarter worth $31,000. True Wealth Design LLC raised its holdings in Zscaler by 18,500.0% during the third quarter. True Wealth Design LLC now owns 186 shares of the company's stock valued at $32,000 after buying an additional 185 shares in the last quarter. Asset Dedication LLC lifted its position in shares of Zscaler by 436.8% in the second quarter. Asset Dedication LLC now owns 204 shares of the company's stock worth $39,000 after buying an additional 166 shares during the last quarter. Finally, American Capital Advisory LLC bought a new stake in shares of Zscaler during the 2nd quarter worth about $50,000. 46.45% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Zscaler

In other news, insider Robert Schlossman sold 1,435 shares of the business's stock in a transaction on Wednesday, October 9th. The stock was 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 owns 105,806 shares of the company's stock, valued at approximately $19,224,950.20. The trade was a 1.34 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Andrew William Fraser Brown sold 8,000 shares of Zscaler stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $174.10, for a total value of $1,392,800.00. Following the completion of the transaction, the director now owns 25,907 shares in the company, valued at approximately $4,510,408.70. This represents a 23.59 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 30,502 shares of company stock valued at $5,256,651 over the last quarter. 18.10% of the stock is owned by corporate insiders.

Zscaler Price Performance

ZS stock traded up $5.87 during midday trading on Monday, reaching $204.41. 1,479,805 shares of the company were exchanged, compared to its average volume of 2,048,434. The firm has a market capitalization of $31.36 billion, a price-to-earnings ratio of -808.92 and a beta of 0.82. The business has a 50-day moving average price of $196.86 and a two-hundred day moving average price of $187.04. Zscaler, Inc. has a one year low of $153.45 and a one year high of $259.61.

Zscaler (NASDAQ:ZS - Get Free Report) last posted its earnings results on Monday, December 2nd. The company reported $0.77 earnings per share for the quarter, topping analysts' consensus estimates of $0.63 by $0.14. Zscaler had a negative return on equity of 0.75% and a negative net margin of 1.58%. The company had revenue of $628.00 million during the quarter, compared to the consensus estimate of $605.51 million. During the same quarter last year, the firm earned ($0.18) earnings per share. The company's revenue was up 26.4% on a year-over-year basis. As a group, analysts anticipate that Zscaler, Inc. will post -0.24 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

ZS has been the topic of a number of research analyst reports. Needham & Company LLC reiterated a "buy" rating and issued a $240.00 target price on shares of Zscaler in a research note on Tuesday, December 3rd. Morgan Stanley lowered their price target on Zscaler from $215.00 to $205.00 and set an "equal weight" rating on the stock in a research report on Tuesday, December 3rd. JPMorgan Chase & Co. upped their target price on shares of Zscaler from $220.00 to $240.00 and gave the company an "overweight" rating in a research note on Friday, November 29th. Stifel Nicolaus raised their price objective on Zscaler from $220.00 to $235.00 and gave the stock a "buy" rating in a research report on Thursday, November 14th. Finally, BTIG Research lifted their price objective on Zscaler from $205.00 to $238.00 and gave the stock a "buy" rating in a report on Wednesday, November 27th. Eleven analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $224.84.

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.