Zscaler, Inc. (NASDAQ:ZS) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. lessened its stake in shares of Zscaler, Inc. (NASDAQ:ZS) by 88.8% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 7,978 shares of the company’s stock after selling 63,434 shares during the quarter. Principal Financial Group Inc.’s holdings in Zscaler were worth $1,533,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. American Capital Advisory LLC purchased a new position in shares of Zscaler during the 2nd quarter worth approximately $50,000. IQ EQ FUND MANAGEMENT IRELAND Ltd raised its position in Zscaler by 5.9% in the second quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 32,457 shares of the company’s stock valued at $6,238,000 after purchasing an additional 1,808 shares during the period. Migdal Insurance & Financial Holdings Ltd. acquired a new position in Zscaler during the second quarter worth $1,866,000. Burney Co. purchased a new position in shares of Zscaler during the second quarter worth $1,331,000. Finally, Valley Brook Capital Group Inc. boosted its position in shares of Zscaler by 12.6% during the second quarter. Valley Brook Capital Group Inc. now owns 1,897 shares of the company’s stock worth $365,000 after buying an additional 213 shares during the period. 46.45% of the stock is currently owned by institutional investors and hedge funds.

Zscaler Price Performance

Shares of ZS opened at $166.71 on Friday. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.75 and a quick ratio of 1.75. Zscaler, Inc. has a 1-year low of $146.59 and a 1-year high of $259.61. The stock has a market cap of $25.20 billion, a PE ratio of -326.88 and a beta of 0.82. The firm has a fifty day moving average price of $184.68 and a 200 day moving average price of $185.70.

Zscaler (NASDAQ:ZS) last posted its earnings results on Tuesday, September 3rd. The company reported $0.88 earnings per share for the quarter, beating the consensus estimate of $0.70 by $0.18. The business had revenue of $592.90 million during the quarter, compared to the consensus estimate of $567.46 million. Zscaler had a negative return on equity of 3.75% and a negative net margin of 2.66%. The business’s quarterly revenue was up 30.3% on a year-over-year basis. During the same period in the previous year, the business earned ($0.17) EPS. As a group, sell-side analysts anticipate that Zscaler, Inc. will post -0.92 EPS for the current year.

Insider Activity

In other 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 directly owns 243,486 shares in the company, valued at $43,148,154.06. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 19.20% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on ZS shares. Citigroup decreased their target price on Zscaler from $270.00 to $240.00 and set a “buy” rating on the stock in a research note on Wednesday, June 5th. Piper Sandler reduced their price target on shares of Zscaler from $255.00 to $215.00 and set an “overweight” rating on the stock in a research report on Wednesday, September 4th. JPMorgan Chase & Co. dropped their price objective on shares of Zscaler from $230.00 to $220.00 and set an “overweight” rating for the company in a report on Wednesday, September 4th. Bank of America downgraded shares of Zscaler from a “buy” rating to a “neutral” rating and cut their target price for the stock from $265.00 to $195.00 in a research note on Wednesday, September 4th. Finally, Wedbush decreased their price target on shares of Zscaler from $260.00 to $220.00 and set an “outperform” rating for the company in a research report on Wednesday, September 4th. Nine investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Zscaler presently has an average rating of “Moderate Buy” and a consensus price target of $218.39.

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.