Plato Investment Management Ltd Lowers Stock Holdings in Zscaler, Inc. (NASDAQ:ZS)

Plato Investment Management Ltd reduced its stake in Zscaler, Inc. (NASDAQ:ZS) by 54.9% during the third quarter, Holdings Channel.com reports. The fund owned 2,191 shares of the company’s stock after selling 2,665 shares during the quarter. Plato Investment Management Ltd’s holdings in Zscaler were worth $374,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. lifted its position in shares of Zscaler by 1.3% in the 1st quarter. Vanguard Group Inc. now owns 8,961,774 shares of the company’s stock worth $1,726,307,000 after purchasing an additional 118,002 shares during the period. Bank of New York Mellon Corp grew its stake in Zscaler by 5.3% in the second quarter. Bank of New York Mellon Corp now owns 496,047 shares of the company’s stock valued at $95,335,000 after purchasing an additional 25,181 shares during the last quarter. Federated Hermes Inc. raised its holdings in Zscaler by 18.3% in the second quarter. Federated Hermes Inc. now owns 394,698 shares of the company’s stock worth $75,857,000 after purchasing an additional 61,037 shares in the last quarter. Acadian Asset Management LLC lifted its position in shares of Zscaler by 0.9% during the first quarter. Acadian Asset Management LLC now owns 336,197 shares of the company’s stock valued at $64,744,000 after buying an additional 2,937 shares during the last quarter. Finally, Ensign Peak Advisors Inc boosted its holdings in shares of Zscaler by 14.4% in the 2nd quarter. Ensign Peak Advisors Inc now owns 295,525 shares of the company’s stock valued at $56,797,000 after buying an additional 37,137 shares in the last quarter. Institutional investors own 46.45% of the company’s stock.

Insider Transactions at Zscaler

In related news, insider Robert Schlossman sold 4,947 shares of Zscaler stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $170.22, for a total value of $842,078.34. Following the sale, the insider now directly owns 107,241 shares in the company, valued at approximately $18,254,563.02. The trade was a 4.41 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Jagtar Singh Chaudhry sold 2,852 shares of the stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $171.28, for a total value of $488,490.56. Following the transaction, the chief executive officer now directly owns 361,432 shares of the company’s stock, valued at $61,906,072.96. The trade was a 0.78 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 30,502 shares of company stock valued at $5,256,651 in the last three months. 19.20% of the stock is currently owned by company insiders.

Zscaler Stock Performance

ZS stock opened at $208.50 on Friday. The firm’s fifty day moving average is $181.34 and its 200 day moving average is $182.36. Zscaler, Inc. has a one year low of $153.45 and a one year high of $259.61.

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

Analysts Set New Price Targets

ZS has been the subject of several recent analyst reports. Wells Fargo & Company lowered their target price on shares of Zscaler from $182.00 to $180.00 and set an “equal weight” rating for the company in a research note on Wednesday, September 4th. Rosenblatt Securities reissued a “neutral” rating and issued a $190.00 price objective on shares of Zscaler in a research report on Wednesday, September 4th. JPMorgan Chase & Co. reduced their target price on Zscaler from $230.00 to $220.00 and set an “overweight” rating on the stock in a research report on Wednesday, September 4th. Stifel Nicolaus raised their price target on Zscaler from $220.00 to $235.00 and gave the stock a “buy” rating in a report on Thursday. Finally, Bank of America lowered Zscaler from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $265.00 to $195.00 in a research note on Wednesday, September 4th. Ten research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Zscaler currently has a consensus rating of “Moderate Buy” and a consensus target price of $217.18.

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.