Zscaler, Inc. (NASDAQ:ZS) Holdings Cut by Forsta AP Fonden

Forsta AP Fonden reduced its stake in shares of Zscaler, Inc. (NASDAQ:ZS) by 12.3% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 39,100 shares of the company’s stock after selling 5,500 shares during the period. Forsta AP Fonden’s holdings in Zscaler were worth $7,054,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Prestige Wealth Management Group LLC acquired a new stake in shares of Zscaler in the 3rd quarter valued at $31,000. True Wealth Design LLC raised its holdings in Zscaler by 18,500.0% during the third quarter. True Wealth Design LLC now owns 186 shares of the company’s stock valued at $32,000 after buying an additional 185 shares in the last quarter. Versant Capital Management Inc lifted its position in shares of Zscaler by 136.8% in the fourth quarter. Versant Capital Management Inc now owns 180 shares of the company’s stock worth $32,000 after buying an additional 104 shares during the last quarter. Modus Advisors LLC bought a new stake in shares of Zscaler during the 4th quarter worth about $36,000. Finally, Wilmington Savings Fund Society FSB bought a new stake in shares of Zscaler during the 3rd quarter worth about $38,000. 46.45% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ZS has been the subject of several analyst reports. BTIG Research boosted their target price on Zscaler from $205.00 to $238.00 and gave the stock a “buy” rating in a report on Wednesday, November 27th. Loop Capital decreased their price objective 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. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Zscaler from $200.00 to $225.00 and gave the stock a “buy” rating in a report on Tuesday, December 3rd. Stifel Nicolaus upped their price target on shares of Zscaler from $220.00 to $235.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Finally, Susquehanna lifted their price objective on Zscaler from $210.00 to $225.00 and gave the stock a “positive” rating in a research note on Tuesday, December 3rd. Eleven research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $225.47.

Zscaler Trading Down 0.1 %

NASDAQ ZS opened at $202.59 on Friday. The firm has a market cap of $31.09 billion, a price-to-earnings ratio of -810.36 and a beta of 0.87. Zscaler, Inc. has a 1-year low of $153.45 and a 1-year high of $259.61. The company has a 50 day moving average of $194.58 and a 200-day moving average of $187.90.

Zscaler (NASDAQ:ZS) last issued its quarterly earnings data on Monday, December 2nd. The company reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.14. The firm had revenue of $628.00 million during 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 business’s revenue for the quarter was up 26.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.18) EPS. On average, analysts forecast that Zscaler, Inc. will post -0.1 earnings per share for the current year.

Insider Activity

In related news, CEO Jagtar Singh Chaudhry sold 2,863 shares of the stock in a transaction that occurred on 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 directly owns 358,569 shares in the company, valued at $71,828,542.08. This represents a 0.79 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Syam Nair sold 3,682 shares of the company’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 $737,578.24. Following the sale, the insider now owns 142,866 shares of the company’s stock, valued at $28,618,917.12. The trade was a 2.51 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 10,248 shares of company stock valued at $2,052,879 over the last three months. 18.10% of the stock is owned by insiders.

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.