Sumitomo Mitsui Trust Group Inc. Raises Holdings in Zscaler, Inc. (NASDAQ:ZS)

Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of Zscaler, Inc. (NASDAQ:ZS) by 2.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 218,116 shares of the company’s stock after acquiring an additional 4,330 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 0.14% of Zscaler worth $37,285,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of ZS. Versor Investments LP increased its holdings in Zscaler by 12.9% in the third quarter. Versor Investments LP now owns 1,282 shares of the company’s stock valued at $219,000 after buying an additional 146 shares in the last quarter. United Capital Management of KS Inc. increased its stake in shares of Zscaler by 2.5% in the 3rd quarter. United Capital Management of KS Inc. now owns 29,756 shares of the company’s stock valued at $5,086,000 after purchasing an additional 723 shares in the last quarter. Objective Capital Management LLC acquired a new position in Zscaler in the 3rd quarter worth about $203,000. Executive Wealth Management LLC purchased a new position in Zscaler during the third quarter worth approximately $280,000. Finally, SpiderRock Advisors LLC grew its holdings in Zscaler by 1,396.2% in the third quarter. SpiderRock Advisors LLC now owns 17,146 shares of the company’s stock valued at $2,931,000 after purchasing an additional 16,000 shares during the period. 46.45% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO Jagtar Singh Chaudhry sold 2,852 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 $488,490.56. Following the completion of the sale, the chief executive officer now owns 361,432 shares in the company, valued at $61,906,072.96. The trade was a 0.78 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Robert Schlossman sold 1,435 shares of the company’s stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $181.70, for a total value of $260,739.50. Following the completion of the transaction, the insider now directly owns 105,806 shares of the company’s stock, valued at $19,224,950.20. This trade represents a 1.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 30,502 shares of company stock valued at $5,256,651 in the last three months. 19.20% of the stock is owned by corporate insiders.

Zscaler Stock Performance

Zscaler stock opened at $201.47 on Friday. The company has a market capitalization of $30.72 billion, a price-to-earnings ratio of -503.66 and a beta of 0.82. Zscaler, Inc. has a 1 year low of $153.45 and a 1 year high of $259.61. The company’s 50 day simple moving average is $182.23 and its 200-day simple moving average is $182.58.

Zscaler (NASDAQ:ZS) last issued its quarterly earnings results on Tuesday, September 3rd. The company reported ($0.05) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.09. Zscaler had a negative net margin of 2.66% and a negative return on equity of 3.46%. The company had revenue of $592.90 million for the quarter, compared to analyst estimates of $567.46 million. During the same period in the prior year, the firm earned ($0.17) earnings per share. The business’s revenue for the quarter was up 30.3% compared to the same quarter last year. Equities analysts expect that Zscaler, Inc. will post -0.95 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Raymond James initiated coverage on Zscaler in a research report on Tuesday, July 23rd. They set a “market perform” rating on the stock. BMO Capital Markets decreased their price objective on shares of Zscaler from $208.00 to $197.00 and set an “outperform” rating on the stock in a report on Wednesday, September 4th. UBS Group reduced their price target on shares of Zscaler from $270.00 to $250.00 and set a “buy” rating for the company in a research report on Wednesday, September 4th. Piper Sandler lowered their price objective on Zscaler from $255.00 to $215.00 and set an “overweight” rating on the stock in a report on Wednesday, September 4th. Finally, JMP Securities restated a “market outperform” rating and issued a $270.00 target price on shares of Zscaler in a research report on Monday, November 4th. Ten research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Zscaler currently has a consensus rating of “Moderate Buy” and an average price target of $217.18.

Zscaler 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.