Sumitomo Life Insurance Co. Grows Stock Holdings in Zscaler, Inc. (NASDAQ:ZS)

Sumitomo Life Insurance Co. grew its holdings in Zscaler, Inc. (NASDAQ:ZS) by 3.1% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 6,920 shares of the company’s stock after acquiring an additional 207 shares during the period. Sumitomo Life Insurance Co.’s holdings in Zscaler were worth $1,183,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in ZS. Swedbank AB lifted its position in Zscaler by 25.8% during the 3rd quarter. Swedbank AB now owns 11,363 shares of the company’s stock worth $1,942,000 after acquiring an additional 2,327 shares in the last quarter. Norway Savings Bank raised its stake in shares of Zscaler by 5.5% during the third quarter. Norway Savings Bank now owns 4,857 shares of the company’s stock valued at $830,000 after purchasing an additional 254 shares during the period. Creative Planning lifted its position in shares of Zscaler by 7.6% during the third quarter. Creative Planning now owns 148,534 shares of the company’s stock worth $25,390,000 after purchasing an additional 10,551 shares in the last quarter. Woodstock Corp purchased a new position in shares of Zscaler in the third quarter valued at $5,138,000. Finally, Shikiar Asset Management Inc. grew its holdings in Zscaler by 7.1% during the 3rd quarter. Shikiar Asset Management Inc. now owns 8,500 shares of the company’s stock valued at $1,453,000 after purchasing an additional 565 shares in the last quarter. Institutional investors and hedge funds own 46.45% of the company’s stock.

Insider Buying and Selling

In related news, insider Michael J. Rich sold 4,813 shares of Zscaler stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $171.28, for a total value of $824,370.64. Following the transaction, the insider now directly owns 103,259 shares in the company, valued at $17,686,201.52. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, insider Robert Schlossman sold 4,947 shares of the firm’s stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $170.22, for a total value of $842,078.34. Following the completion of the transaction, the insider now owns 107,241 shares of the company’s stock, valued at approximately $18,254,563.02. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Michael J. Rich sold 4,813 shares of Zscaler stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $171.28, for a total transaction of $824,370.64. Following the transaction, the insider now owns 103,259 shares in the company, valued at approximately $17,686,201.52. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 30,502 shares of company stock worth $5,256,651. Corporate insiders own 19.20% of the company’s stock.

Analyst Upgrades and Downgrades

ZS has been the subject of a number of recent analyst reports. Rosenblatt Securities restated a “neutral” rating and set a $190.00 price objective on shares of Zscaler in a research note on Wednesday, September 4th. Morgan Stanley raised their price target on shares of Zscaler from $202.00 to $215.00 and gave the stock an “equal weight” rating in a research report on Monday, August 26th. Raymond James assumed coverage on shares of Zscaler in a report on Tuesday, July 23rd. They issued a “market perform” rating on the stock. Bank of America lowered shares of Zscaler from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $265.00 to $195.00 in a report on Wednesday, September 4th. Finally, BNP Paribas began coverage on shares of Zscaler in a research note on Tuesday, October 8th. They issued a “neutral” rating and a $180.00 target price on the stock. Ten investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Zscaler presently has a consensus rating of “Moderate Buy” and a consensus price target of $216.97.

Zscaler Stock Performance

Shares of NASDAQ ZS opened at $191.55 on Thursday. Zscaler, Inc. has a 1 year low of $152.60 and a 1 year high of $259.61. The firm has a market cap of $28.95 billion, a P/E ratio of -375.59 and a beta of 0.82. The stock has a fifty day moving average price of $180.13 and a two-hundred day moving average price of $180.72.

Zscaler (NASDAQ:ZS) last released its earnings results on Tuesday, September 3rd. The company reported ($0.05) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.09. Zscaler had a negative return on equity of 3.46% and a negative net margin of 2.66%. The firm had revenue of $592.90 million for the quarter, compared to analyst estimates of $567.46 million. During the same period in the previous year, the company earned ($0.17) earnings per share. Zscaler’s revenue was up 30.3% compared to the same quarter last year. On average, research analysts predict that Zscaler, Inc. will post -0.95 earnings per share for the current fiscal year.

Zscaler Profile

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.