Zscaler, Inc. (NASDAQ:ZS) Shares Sold by Swiss National Bank

Swiss National Bank cut its holdings in Zscaler, Inc. (NASDAQ:ZS) by 3.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 266,600 shares of the company’s stock after selling 9,500 shares during the period. Swiss National Bank owned about 0.18% of Zscaler worth $51,355,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. 1832 Asset Management L.P. acquired a new stake in shares of Zscaler during the fourth quarter worth about $217,683,000. Norges Bank acquired a new stake in shares of Zscaler during the fourth quarter worth about $117,599,000. Trivest Advisors Ltd acquired a new stake in shares of Zscaler during the fourth quarter worth about $72,051,000. International Assets Investment Management LLC increased its position in shares of Zscaler by 19,012.4% during the fourth quarter. International Assets Investment Management LLC now owns 223,997 shares of the company’s stock worth $49,629,000 after purchasing an additional 222,825 shares in the last quarter. Finally, Vanguard Group Inc. increased its position in shares of Zscaler by 2.4% during the fourth quarter. Vanguard Group Inc. now owns 8,843,772 shares of the company’s stock worth $1,959,426,000 after purchasing an additional 206,908 shares in the last quarter. 46.45% of the stock is currently owned by institutional investors and hedge funds.

Zscaler Price Performance

NASDAQ ZS traded up $4.08 during trading hours on Monday, reaching $205.98. The company’s stock had a trading volume of 284,302 shares, compared to its average volume of 2,222,837. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.75 and a current ratio of 1.75. The business has a 50-day simple moving average of $181.54 and a 200 day simple moving average of $201.00. Zscaler, Inc. has a 52 week low of $131.59 and a 52 week high of $259.61.

Zscaler (NASDAQ:ZS) last released its quarterly earnings results on Thursday, May 30th. The company reported $0.15 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.39. The company had revenue of $553.20 million for the quarter, compared to analysts’ expectations of $535.55 million. Zscaler had a negative return on equity of 5.84% and a negative net margin of 3.62%. As a group, equities research analysts expect that Zscaler, Inc. will post -0.34 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms recently issued reports on ZS. Citigroup lowered their price target on Zscaler from $270.00 to $240.00 and set a “buy” rating on the stock in a report on Wednesday, June 5th. KeyCorp raised Zscaler from a “sector weight” rating to an “overweight” rating and set a $220.00 price target on the stock in a report on Thursday, April 18th. JMP Securities reissued a “market outperform” rating and set a $270.00 price target on shares of Zscaler in a report on Monday, June 17th. Wells Fargo & Company reissued an “equal weight” rating and set a $182.00 price target (down previously from $275.00) on shares of Zscaler in a report on Tuesday, May 28th. Finally, Loop Capital lowered their price objective on Zscaler from $225.00 to $180.00 and set a “hold” rating on the stock in a report on Friday, May 31st. Six research analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Zscaler presently has a consensus rating of “Moderate Buy” and an average target price of $225.21.

Insider Activity

In related news, CFO Remo Canessa sold 7,981 shares of the firm’s stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $177.21, for a total transaction of $1,414,313.01. Following the transaction, the chief financial officer now owns 243,486 shares in the company, valued at $43,148,154.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 19.20% of the company’s stock.

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.