Sumitomo Mitsui DS Asset Management Company Ltd Has $1.40 Million Holdings in Zscaler, Inc. (NASDAQ:ZS)

Sumitomo Mitsui DS Asset Management Company Ltd trimmed its stake in shares of Zscaler, Inc. (NASDAQ:ZS) by 47.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,731 shares of the company’s stock after selling 6,920 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Zscaler were worth $1,395,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of ZS. Sumitomo Mitsui Trust Group Inc. increased its position in Zscaler by 3.0% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 224,648 shares of the company’s stock worth $40,529,000 after purchasing an additional 6,532 shares during the period. Choreo LLC boosted its stake in shares of Zscaler by 2.6% in the 4th quarter. Choreo LLC now owns 2,833 shares of the company’s stock valued at $517,000 after purchasing an additional 73 shares during the last quarter. Yousif Capital Management LLC acquired a new stake in shares of Zscaler during the 4th quarter worth approximately $214,000. SYM FINANCIAL Corp bought a new stake in shares of Zscaler during the fourth quarter worth approximately $303,000. Finally, Tokio Marine Asset Management Co. Ltd. lifted its holdings in Zscaler by 12.5% in the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 3,664 shares of the company’s stock valued at $661,000 after buying an additional 408 shares during the period. 46.45% of the stock is owned by institutional investors.

Zscaler Price Performance

Shares of NASDAQ:ZS opened at $209.24 on Wednesday. The company’s 50-day moving average price is $194.49 and its two-hundred day moving average price is $188.70. Zscaler, Inc. has a one year low of $153.45 and a one year high of $256.42. The stock has a market capitalization of $32.11 billion, a PE ratio of -836.96 and a beta of 0.89.

Zscaler (NASDAQ:ZS) last posted its quarterly earnings results on Monday, December 2nd. The company reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.14. Zscaler had a negative return on equity of 0.75% and a negative net margin of 1.58%. The firm had revenue of $628.00 million during the quarter, compared to the consensus estimate of $605.51 million. During the same period last 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, analysts anticipate that Zscaler, Inc. will post -0.1 earnings per share for the current fiscal year.

Insider Activity at Zscaler

In related news, CEO Jagtar Singh Chaudhry sold 2,863 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 value of $573,516.16. Following the transaction, the chief executive officer now owns 358,569 shares in the company, valued at approximately $71,828,542.08. This represents a 0.79 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Remo Canessa sold 3,703 shares of the firm’s stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $200.32, for a total transaction of $741,784.96. Following the sale, the chief financial officer now owns 220,635 shares of the company’s stock, valued at $44,197,603.20. This trade represents a 1.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 10,248 shares of company stock worth $2,052,879. Insiders own 18.10% of the company’s stock.

Analysts Set New Price Targets

ZS has been the subject of a number of analyst reports. Loop Capital lowered their target price on shares of Zscaler from $200.00 to $195.00 and set a “hold” rating for the company in a report on Tuesday, December 3rd. Citigroup lifted their price objective on Zscaler from $230.00 to $235.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Morgan Stanley cut their target price on Zscaler from $215.00 to $205.00 and set an “equal weight” rating on the stock in a research note on Tuesday, December 3rd. Jefferies Financial Group boosted their target price on Zscaler from $225.00 to $245.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Finally, Barclays increased their price target on shares of Zscaler from $200.00 to $220.00 and gave the company an “overweight” rating in a research report on Thursday, November 21st. Eleven analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the stock. According to MarketBeat, Zscaler has an average rating of “Moderate Buy” and a consensus price target of $225.47.

Zscaler Company 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.