Handelsbanken Fonder AB Has $8.11 Million Stake in Zscaler, Inc. (NASDAQ:ZS)

Handelsbanken Fonder AB reduced its holdings in Zscaler, Inc. (NASDAQ:ZS) by 1.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 47,448 shares of the company’s stock after selling 662 shares during the quarter. Handelsbanken Fonder AB’s holdings in Zscaler were worth $8,111,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. EverSource Wealth Advisors LLC increased its position in Zscaler by 8.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 832 shares of the company’s stock valued at $149,000 after acquiring an additional 66 shares in the last quarter. Kovack Advisors Inc. increased its holdings in shares of Zscaler by 3.4% in the first quarter. Kovack Advisors Inc. now owns 2,042 shares of the company’s stock valued at $393,000 after purchasing an additional 67 shares in the last quarter. GAMMA Investing LLC raised its position in Zscaler by 21.3% in the 2nd quarter. GAMMA Investing LLC now owns 382 shares of the company’s stock worth $73,000 after purchasing an additional 67 shares during the last quarter. American Trust lifted its holdings in Zscaler by 6.1% during the 2nd quarter. American Trust now owns 1,210 shares of the company’s stock worth $233,000 after buying an additional 70 shares in the last quarter. Finally, Swedbank AB boosted its position in Zscaler by 0.8% in the 2nd quarter. Swedbank AB now owns 9,036 shares of the company’s stock valued at $1,737,000 after buying an additional 76 shares during the last quarter. 46.45% of the stock is owned by institutional investors.

Zscaler Stock Performance

ZS opened at $172.13 on Tuesday. The business’s 50-day simple moving average is $177.27 and its 200 day simple moving average is $180.74. Zscaler, Inc. has a 52-week low of $152.60 and a 52-week high of $259.61. The firm has a market capitalization of $26.02 billion, a PE ratio of -337.51 and a beta of 0.82.

Zscaler (NASDAQ:ZS) last released its earnings results on Tuesday, September 3rd. The company reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.14) by $0.09. The business had revenue of $592.90 million during the quarter, compared to analysts’ expectations of $567.46 million. Zscaler had a negative net margin of 2.66% and a negative return on equity of 3.46%. The firm’s revenue was up 30.3% on a year-over-year basis. During the same period last year, the business earned ($0.17) earnings per share. On average, research analysts forecast that Zscaler, Inc. will post -0.95 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on ZS shares. Cantor Fitzgerald cut their price target on Zscaler from $200.00 to $170.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 4th. Raymond James assumed coverage on shares of Zscaler in a research report on Tuesday, July 23rd. They set a “market perform” rating for the company. Mizuho cut shares of Zscaler from an “outperform” rating to a “neutral” rating and set a $220.00 price objective on the stock. in a research note on Tuesday, July 16th. Barclays dropped their target price on shares of Zscaler from $230.00 to $200.00 and set an “overweight” rating for the company in a research report on Wednesday, September 4th. Finally, Susquehanna restated a “positive” rating and issued a $210.00 price target on shares of Zscaler in a research report on Thursday, September 5th. Nine equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Zscaler has an average rating of “Moderate Buy” and a consensus target price of $218.09.

Insiders Place Their Bets

In related news, insider Michael J. Rich sold 4,813 shares of the business’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $171.28, for a total transaction of $824,370.64. Following the transaction, the insider now directly owns 103,259 shares of the company’s stock, valued at approximately $17,686,201.52. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Michael J. Rich sold 4,813 shares of the company’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $171.28, for a total value of $824,370.64. Following the transaction, the insider now owns 103,259 shares in the company, valued at approximately $17,686,201.52. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Robert Schlossman sold 4,947 shares of the firm’s stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $170.22, for a total transaction of $842,078.34. Following the sale, the insider now owns 107,241 shares of the company’s stock, valued at $18,254,563.02. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 29,067 shares of company stock valued at $4,995,912 over the last 90 days. 19.20% of the stock is currently owned by insiders.

About Zscaler

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.