Sumitomo Mitsui Trust Holdings Inc. Sells 17,159 Shares of Zscaler, Inc. (NASDAQ:ZS)

Sumitomo Mitsui Trust Holdings Inc. lessened its stake in shares of Zscaler, Inc. (NASDAQ:ZS) by 7.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 213,786 shares of the company’s stock after selling 17,159 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned approximately 0.14% of Zscaler worth $41,088,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Blue Trust Inc. boosted its position in Zscaler by 18.0% during the 2nd quarter. Blue Trust Inc. now owns 1,252 shares of the company’s stock valued at $241,000 after acquiring an additional 191 shares in the last quarter. LA Financiere DE L Echiquier boosted its position in shares of Zscaler by 2.3% in the 2nd quarter. LA Financiere DE L Echiquier now owns 211,000 shares of the company’s stock worth $40,552,000 after purchasing an additional 4,770 shares in the last quarter. Swedbank AB boosted its position in shares of Zscaler by 0.8% in the 2nd quarter. Swedbank AB now owns 9,036 shares of the company’s stock worth $1,737,000 after purchasing an additional 76 shares in the last quarter. SteelPeak Wealth LLC acquired a new stake in shares of Zscaler in the 2nd quarter worth $258,000. Finally, Baader Bank Aktiengesellschaft boosted its position in shares of Zscaler by 65.2% in the 2nd quarter. Baader Bank Aktiengesellschaft now owns 6,607 shares of the company’s stock worth $1,262,000 after purchasing an additional 2,607 shares in the last quarter. Institutional investors own 46.45% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on ZS shares. Susquehanna lowered their price objective on Zscaler from $275.00 to $210.00 and set a “positive” rating for the company in a research report on Friday, May 31st. Canaccord Genuity Group lowered their price objective on Zscaler from $260.00 to $220.00 and set a “buy” rating for the company in a research report on Tuesday, June 4th. Citigroup lowered their price objective on Zscaler from $270.00 to $240.00 and set a “buy” rating for the company in a research report on Wednesday, June 5th. Rosenblatt Securities reissued a “neutral” rating and issued a $190.00 price objective on shares of Zscaler in a research report on Tuesday, May 28th. Finally, Mizuho cut Zscaler from an “outperform” rating to a “neutral” rating and set a $220.00 price target for the company. in a research report on Tuesday, July 16th. Eight research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $225.21.

Insider Buying and Selling

In related news, CFO Remo Canessa sold 7,981 shares of Zscaler stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $177.21, for a total value of $1,414,313.01. Following the sale, the chief financial officer now directly owns 243,486 shares in the company, valued at approximately $43,148,154.06. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 19.20% of the stock is currently owned by insiders.

Zscaler Price Performance

Shares of Zscaler stock opened at $192.90 on Monday. The company has a quick ratio of 1.75, a current ratio of 1.75 and a debt-to-equity ratio of 1.04. Zscaler, Inc. has a twelve month low of $131.59 and a twelve month high of $259.61. The business has a 50-day moving average price of $185.75 and a 200 day moving average price of $192.84. The firm has a market cap of $29.16 billion, a PE ratio of -378.24 and a beta of 0.85.

Zscaler (NASDAQ:ZS) last announced its quarterly earnings results on Thursday, May 30th. The company reported $0.15 earnings per share for the quarter, beating the consensus estimate of ($0.24) by $0.39. Zscaler had a negative return on equity of 5.84% and a negative net margin of 3.62%. The firm had revenue of $553.20 million during the quarter, compared to analyst estimates of $535.55 million. Sell-side analysts predict that Zscaler, Inc. will post -0.32 earnings per share for the current fiscal year.

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.