National Pension Service Sells 9,318 Shares of Zscaler, Inc. (NASDAQ:ZS)

National Pension Service cut its stake in Zscaler, Inc. (NASDAQ:ZS) by 5.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 154,505 shares of the company’s stock after selling 9,318 shares during the period. National Pension Service owned 0.10% of Zscaler worth $27,874,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Fred Alger Management LLC lifted its position in Zscaler by 1,151.0% during the 3rd quarter. Fred Alger Management LLC now owns 10,371 shares of the company’s stock valued at $1,773,000 after acquiring an additional 9,542 shares during the period. Nomura Asset Management Co. Ltd. grew its holdings in Zscaler by 11.0% in the third quarter. Nomura Asset Management Co. Ltd. now owns 380,463 shares of the company’s stock worth $65,036,000 after purchasing an additional 37,801 shares during the period. Zweig DiMenna Associates LLC grew its holdings in Zscaler by 29.8% in the fourth quarter. Zweig DiMenna Associates LLC now owns 77,941 shares of the company’s stock worth $14,061,000 after purchasing an additional 17,900 shares during the period. Baader Bank Aktiengesellschaft grew its holdings in Zscaler by 30.3% in the fourth quarter. Baader Bank Aktiengesellschaft now owns 8,400 shares of the company’s stock worth $1,515,000 after purchasing an additional 1,952 shares during the period. Finally, Van ECK Associates Corp grew its holdings in Zscaler by 1,786.5% in the third quarter. Van ECK Associates Corp now owns 15,073 shares of the company’s stock worth $2,728,000 after purchasing an additional 14,274 shares during the period. 46.45% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Zscaler

In other news, insider Syam Nair sold 3,682 shares of the firm’s stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $200.32, for a total value of $737,578.24. Following the completion of the sale, the insider now owns 142,866 shares in the company, valued at approximately $28,618,917.12. This trade represents a 2.51 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Remo Canessa sold 3,703 shares of the company’s stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $200.32, for a total transaction of $741,784.96. Following the transaction, the chief financial officer now owns 220,635 shares in the company, valued at $44,197,603.20. The trade was a 1.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 10,248 shares of company stock valued at $2,052,879. Insiders own 18.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on ZS shares. Mizuho upped their price objective on shares of Zscaler from $210.00 to $225.00 and gave the stock a “neutral” rating in a report on Wednesday, February 12th. Morgan Stanley cut their price objective on shares of Zscaler from $215.00 to $205.00 and set an “equal weight” rating on the stock in a report on Tuesday, December 3rd. Canaccord Genuity Group increased their price target on shares of Zscaler from $220.00 to $230.00 and gave the company a “buy” rating in a report on Tuesday, December 3rd. KeyCorp boosted their price objective on shares of Zscaler from $245.00 to $250.00 and gave the stock an “overweight” rating in a report on Tuesday, December 3rd. Finally, Stifel Nicolaus lifted their target price on Zscaler from $220.00 to $235.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Eleven investment analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $226.56.

Zscaler Stock Performance

ZS opened at $196.23 on Friday. The stock has a market capitalization of $30.11 billion, a price-to-earnings ratio of -784.92 and a beta of 0.89. Zscaler, Inc. has a fifty-two week low of $153.45 and a fifty-two week high of $243.94. The company has a fifty day moving average of $195.64 and a 200 day moving average of $191.49.

Zscaler (NASDAQ:ZS) last posted its earnings results on Monday, December 2nd. The company reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.14. The company had revenue of $628.00 million for the quarter, compared to the consensus estimate of $605.51 million. Zscaler had a negative return on equity of 0.75% and a negative net margin of 1.58%. The firm’s revenue for the quarter was up 26.4% on a year-over-year basis. During the same period in the previous year, the business earned ($0.18) earnings per share. On average, equities research analysts forecast that Zscaler, Inc. will post -0.1 earnings per share for the current year.

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.