Zscaler, Inc. (NASDAQ:ZS) Stake Lowered by Principal Financial Group Inc.

Principal Financial Group Inc. decreased its position in shares of Zscaler, Inc. (NASDAQ:ZS) by 1.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,902 shares of the company’s stock after selling 76 shares during the period. Principal Financial Group Inc.’s holdings in Zscaler were worth $1,351,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. International Assets Investment Management LLC raised its holdings in Zscaler by 13,498.6% during the third quarter. International Assets Investment Management LLC now owns 285,299 shares of the company’s stock valued at $48,769,000 after buying an additional 283,201 shares in the last quarter. GuoLine Advisory Pte Ltd acquired a new stake in Zscaler in the 3rd quarter worth approximately $32,660,000. Massachusetts Financial Services Co. MA bought a new stake in Zscaler during the second quarter worth approximately $25,287,000. Rokos Capital Management LLP bought a new position in shares of Zscaler in the first quarter valued at approximately $17,880,000. Finally, Caxton Associates LP lifted its stake in shares of Zscaler by 467.9% in the second quarter. Caxton Associates LP now owns 79,500 shares of the company’s stock worth $15,279,000 after buying an additional 65,500 shares during the last quarter. Hedge funds and other institutional investors own 46.45% of the company’s stock.

Zscaler Stock Performance

Shares of ZS opened at $210.96 on Friday. The stock has a fifty day moving average price of $186.49 and a two-hundred day moving average price of $183.60. The company has a market cap of $32.17 billion, a price-to-earnings ratio of -527.39 and a beta of 0.82. Zscaler, Inc. has a 52-week low of $153.45 and a 52-week high of $259.61.

Zscaler (NASDAQ:ZS) last announced its earnings results on Tuesday, September 3rd. The company reported ($0.05) earnings per share 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 during the quarter, compared to the consensus estimate of $567.46 million. During the same period in the previous year, the firm posted ($0.17) earnings per share. The company’s revenue was up 30.3% on a year-over-year basis. As a group, research analysts predict that Zscaler, Inc. will post -0.95 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently issued reports on ZS. BTIG Research lowered their target price on shares of Zscaler from $220.00 to $205.00 and set a “buy” rating on the stock in a research note on Wednesday, September 4th. Royal Bank of Canada reiterated an “outperform” rating and issued a $230.00 price objective on shares of Zscaler in a research note on Wednesday, September 4th. Piper Sandler decreased their target price on Zscaler from $255.00 to $215.00 and set an “overweight” rating for the company in a research note on Wednesday, September 4th. Citigroup cut their price target on Zscaler from $240.00 to $230.00 and set a “buy” rating for the company in a report on Friday, October 4th. Finally, KeyCorp raised their price objective on shares of Zscaler from $220.00 to $245.00 and gave the stock an “overweight” rating in a research note on Friday. Ten equities 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 stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $218.55.

Insider Buying and Selling

In other news, insider Michael J. Rich sold 4,813 shares of the firm’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 of the company’s stock, valued at approximately $17,686,201.52. This trade represents a 4.45 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Jagtar Singh Chaudhry sold 2,852 shares of Zscaler 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 sale, the chief executive officer now owns 361,432 shares of the company’s stock, valued at approximately $61,906,072.96. This represents a 0.78 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 30,502 shares of company stock worth $5,256,651 in the last quarter. Insiders own 19.20% of the company’s stock.

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.