Acadian Asset Management LLC lowered its holdings in shares of Zscaler, Inc. (NASDAQ:ZS – Free Report) by 97.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 673 shares of the company’s stock after selling 30,170 shares during the quarter. Acadian Asset Management LLC’s holdings in Zscaler were worth $97,000 at the end of the most recent quarter.
Several other institutional investors have also modified their holdings of ZS. New York Life Investment Management LLC bought a new stake in Zscaler in the 2nd quarter valued at $226,000. Envestnet Asset Management Inc. lifted its holdings in shares of Zscaler by 32.3% in the second quarter. Envestnet Asset Management Inc. now owns 10,146 shares of the company’s stock valued at $1,484,000 after purchasing an additional 2,477 shares in the last quarter. American International Group Inc. boosted its position in shares of Zscaler by 4.7% during the second quarter. American International Group Inc. now owns 9,443 shares of the company’s stock worth $1,382,000 after buying an additional 422 shares during the period. Cibc World Markets Corp grew its holdings in shares of Zscaler by 602.4% during the second quarter. Cibc World Markets Corp now owns 12,151 shares of the company’s stock worth $1,778,000 after buying an additional 10,421 shares in the last quarter. Finally, United Capital Management of KS Inc. raised its position in Zscaler by 6.3% in the 2nd quarter. United Capital Management of KS Inc. now owns 23,479 shares of the company’s stock valued at $3,435,000 after buying an additional 1,388 shares during the last quarter. Institutional investors own 46.45% of the company’s stock.
Analyst Upgrades and Downgrades
Several equities analysts have recently weighed in on the stock. Needham & Company LLC reaffirmed a “strong-buy” rating and set a $210.00 price target on shares of Zscaler in a research note on Wednesday, September 6th. Stephens reaffirmed an “overweight” rating and issued a $190.00 target price on shares of Zscaler in a research report on Wednesday, September 6th. BMO Capital Markets boosted their price target on shares of Zscaler from $175.00 to $180.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 6th. Canaccord Genuity Group raised their price objective on Zscaler from $172.00 to $190.00 and gave the company a “buy” rating in a report on Wednesday, September 6th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on Zscaler from $155.00 to $185.00 and gave the stock a “buy” rating in a report on Wednesday, September 6th. Ten investment analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $185.51.
Zscaler Stock Up 2.4 %
NASDAQ ZS opened at $191.96 on Tuesday. The company has a market cap of $28.25 billion, a price-to-earnings ratio of -136.14 and a beta of 0.81. Zscaler, Inc. has a 1-year low of $84.93 and a 1-year high of $193.49. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 1.56. The company has a 50 day moving average of $163.88 and a 200-day moving average of $150.40.
Zscaler (NASDAQ:ZS – Get Free Report) last released its earnings results on Tuesday, September 5th. The company reported $0.64 earnings per share for the quarter, beating analysts’ consensus estimates of $0.49 by $0.15. Zscaler had a negative return on equity of 31.64% and a negative net margin of 12.51%. The firm had revenue of $455.00 million during the quarter, compared to the consensus estimate of $430.38 million. During the same period in the prior year, the company posted ($0.40) EPS. The company’s revenue was up 43.0% compared to the same quarter last year. On average, equities research analysts expect that Zscaler, Inc. will post -1.11 earnings per share for the current fiscal year.
Insiders Place Their Bets
In related news, CEO Jagtar Singh Chaudhry sold 2,844 shares of Zscaler stock in a transaction that occurred on Monday, September 18th. The shares were sold at an average price of $154.45, for a total value of $439,255.80. Following the transaction, the chief executive officer now directly owns 372,091 shares of the company’s stock, valued at $57,469,454.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Amit Sinha sold 3,680 shares of the firm’s stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $183.94, for a total value of $676,899.20. Following the sale, the director now directly owns 36,800 shares in the company, valued at approximately $6,768,992. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Jagtar Singh Chaudhry sold 2,844 shares of the company’s stock in a transaction that occurred on Monday, September 18th. The stock was sold at an average price of $154.45, for a total transaction of $439,255.80. Following the transaction, the chief executive officer now owns 372,091 shares of the company’s stock, valued at $57,469,454.95. The disclosure for this sale can be found here. Insiders have sold 99,758 shares of company stock worth $15,782,935 over the last ninety days. Corporate insiders own 19.80% of the company’s stock.
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.
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