Sumitomo Mitsui DS Asset Management Company Ltd Decreases Position in Zscaler, Inc. (NASDAQ:ZS)

Sumitomo Mitsui DS Asset Management Company Ltd reduced its stake in Zscaler, Inc. (NASDAQ:ZS) by 7.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 21,314 shares of the company’s stock after selling 1,696 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Zscaler were worth $4,722,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ZS. Signaturefd LLC boosted its position in shares of Zscaler by 61.7% in the 4th quarter. Signaturefd LLC now owns 1,213 shares of the company’s stock valued at $269,000 after purchasing an additional 463 shares during the period. Lindbrook Capital LLC grew its position in Zscaler by 41.1% during the 4th quarter. Lindbrook Capital LLC now owns 237 shares of the company’s stock worth $53,000 after purchasing an additional 69 shares during the last quarter. abrdn plc increased its stake in Zscaler by 101.7% in the fourth quarter. abrdn plc now owns 30,034 shares of the company’s stock valued at $6,654,000 after purchasing an additional 15,141 shares during the period. Federated Hermes Inc. purchased a new stake in shares of Zscaler in the fourth quarter valued at about $39,246,000. Finally, Livforsakringsbolaget Skandia Omsesidigt boosted its stake in shares of Zscaler by 109.0% during the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 209 shares of the company’s stock worth $46,000 after buying an additional 109 shares during the period. Institutional investors and hedge funds own 46.45% of the company’s stock.

Insider Activity

In related news, CEO Jagtar Singh Chaudhry sold 2,115 shares of the stock in a transaction on Monday, March 18th. The stock was sold at an average price of $193.15, for a total value of $408,512.25. Following the completion of the transaction, the chief executive officer now owns 367,152 shares in the company, valued at approximately $70,915,408.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Jagtar Singh Chaudhry sold 2,115 shares of Zscaler stock in a transaction on Monday, March 18th. The stock was sold at an average price of $193.15, for a total transaction of $408,512.25. Following the transaction, the chief executive officer now owns 367,152 shares in the company, valued at $70,915,408.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Syam Nair sold 2,893 shares of the stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $193.15, for a total value of $558,782.95. Following the completion of the sale, the insider now directly owns 137,294 shares of the company’s stock, valued at $26,518,336.10. The disclosure for this sale can be found here. Insiders sold a total of 26,715 shares of company stock worth $5,865,882 over the last 90 days. 19.20% of the stock is currently owned by company insiders.

Zscaler Stock Performance

Zscaler stock opened at $170.97 on Tuesday. The company has a market cap of $25.63 billion, a PE ratio of -179.97 and a beta of 0.81. Zscaler, Inc. has a 12 month low of $84.93 and a 12 month high of $259.61. The company has a fifty day moving average price of $204.42 and a two-hundred day moving average price of $203.48. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.98 and a quick ratio of 1.98.

Zscaler (NASDAQ:ZS) last issued its quarterly earnings data on Thursday, February 29th. The company reported ($0.16) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.08. The business had revenue of $525.00 million during the quarter, compared to analyst estimates of $507.56 million. Zscaler had a negative return on equity of 14.60% and a negative net margin of 7.32%. Research analysts expect that Zscaler, Inc. will post -0.81 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on ZS shares. Sanford C. Bernstein dropped their price target on shares of Zscaler from $311.00 to $280.00 and set an “outperform” rating on the stock in a research note on Friday, March 1st. Robert W. Baird increased their target price on Zscaler from $255.00 to $265.00 and gave the stock an “outperform” rating in a research note on Friday, March 1st. BMO Capital Markets dropped their price objective on Zscaler from $268.00 to $255.00 and set an “outperform” rating on the stock in a report on Friday, March 1st. Oppenheimer raised their target price on Zscaler from $245.00 to $290.00 and gave the company an “outperform” rating in a report on Wednesday, January 3rd. Finally, KeyCorp raised Zscaler from a “sector weight” rating to an “overweight” rating and set a $220.00 price target on the stock in a research note on Thursday, April 18th. Five investment analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $230.24.

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.