Zscaler, Inc. (NASDAQ:ZS) Stock Position Raised by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. increased its position in Zscaler, Inc. (NASDAQ:ZS) by 3.0% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 224,648 shares of the company’s stock after purchasing an additional 6,532 shares during the period. Sumitomo Mitsui Trust Group Inc. owned about 0.15% of Zscaler worth $40,529,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the company. Geode Capital Management LLC boosted its holdings in shares of Zscaler by 3.9% during the third quarter. Geode Capital Management LLC now owns 1,625,861 shares of the company’s stock worth $277,327,000 after purchasing an additional 60,414 shares during the period. Champlain Investment Partners LLC lifted its position in Zscaler by 28.2% in the 3rd quarter. Champlain Investment Partners LLC now owns 1,289,350 shares of the company’s stock worth $220,401,000 after buying an additional 283,540 shares in the last quarter. Westfield Capital Management Co. LP boosted its stake in shares of Zscaler by 33.8% during the 3rd quarter. Westfield Capital Management Co. LP now owns 399,516 shares of the company’s stock valued at $68,293,000 after buying an additional 100,814 shares during the period. Nomura Asset Management Co. Ltd. grew its holdings in shares of Zscaler by 11.0% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 380,463 shares of the company’s stock valued at $65,036,000 after acquiring an additional 37,801 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Zscaler by 4.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 355,070 shares of the company’s stock worth $60,696,000 after acquiring an additional 16,634 shares during the last quarter. 46.45% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Zscaler news, insider Syam Nair sold 3,682 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 $737,578.24. Following the completion of the transaction, the insider now directly owns 142,866 shares in the company, valued at $28,618,917.12. This represents a 2.51 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Remo Canessa sold 3,703 shares of the business’s stock in a transaction on Tuesday, December 17th. The shares were 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 owns 220,635 shares in the company, valued at $44,197,603.20. This represents a 1.65 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 10,248 shares of company stock valued at $2,052,879 over the last quarter. Corporate insiders own 18.10% of the company’s stock.

Zscaler Trading Up 3.4 %

Shares of NASDAQ:ZS opened at $212.53 on Tuesday. The firm has a market capitalization of $32.61 billion, a PE ratio of -850.12 and a beta of 0.89. Zscaler, Inc. has a 1-year low of $153.45 and a 1-year high of $256.42. The business’s 50 day moving average is $194.28 and its 200-day moving average is $188.51.

Zscaler (NASDAQ:ZS) last posted its quarterly 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 net margin of 1.58% and a negative return on equity of 0.75%. The firm had revenue of $628.00 million for the quarter, compared to the consensus estimate of $605.51 million. During the same quarter in the previous year, the company earned ($0.18) earnings per share. The business’s revenue was up 26.4% compared to the same quarter last year. On average, sell-side analysts predict that Zscaler, Inc. will post -0.1 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts have commented on ZS shares. Citigroup boosted their target price on Zscaler from $230.00 to $235.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. KeyCorp boosted their price target on Zscaler from $245.00 to $250.00 and gave the company an “overweight” rating in a research note on Tuesday, December 3rd. Piper Sandler raised their price objective on shares of Zscaler from $215.00 to $235.00 and gave the company an “overweight” rating in a research report on Tuesday, December 3rd. JMP Securities reissued a “market outperform” rating and issued a $240.00 target price (down from $270.00) on shares of Zscaler in a research report on Tuesday, December 3rd. Finally, Wells Fargo & Company raised their price target on shares of Zscaler from $180.00 to $190.00 and gave the company an “equal weight” rating in a report on Wednesday, December 4th. Eleven investment analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $225.47.

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.