Massachusetts Financial Services Co. MA Sells 5,009 Shares of Zscaler, Inc. (NASDAQ:ZS)

Massachusetts Financial Services Co. MA lessened its stake in shares of Zscaler, Inc. (NASDAQ:ZS) by 3.8% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 126,564 shares of the company’s stock after selling 5,009 shares during the period. Massachusetts Financial Services Co. MA owned approximately 0.08% of Zscaler worth $21,635,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp increased its position in Zscaler by 5.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 496,047 shares of the company’s stock valued at $95,335,000 after buying an additional 25,181 shares in the last quarter. Federated Hermes Inc. boosted its stake in Zscaler by 18.3% during the 2nd quarter. Federated Hermes Inc. now owns 394,698 shares of the company’s stock valued at $75,857,000 after purchasing an additional 61,037 shares during the last quarter. Ensign Peak Advisors Inc boosted its stake in Zscaler by 14.4% during the 2nd quarter. Ensign Peak Advisors Inc now owns 295,525 shares of the company’s stock valued at $56,797,000 after purchasing an additional 37,137 shares during the last quarter. International Assets Investment Management LLC boosted its stake in Zscaler by 13,498.6% during the 3rd quarter. International Assets Investment Management LLC now owns 285,299 shares of the company’s stock valued at $48,769,000 after purchasing an additional 283,201 shares during the last quarter. Finally, Swiss National Bank boosted its stake in Zscaler by 1.1% during the 3rd quarter. Swiss National Bank now owns 269,200 shares of the company’s stock valued at $46,017,000 after purchasing an additional 2,900 shares during the last quarter. Institutional investors own 46.45% of the company’s stock.

Zscaler Trading Down 0.3 %

Shares of ZS stock opened at $210.42 on Tuesday. Zscaler, Inc. has a 12-month low of $153.45 and a 12-month high of $259.61. The stock’s 50-day moving average price is $187.27 and its 200-day moving average price is $183.96. The stock has a market capitalization of $32.09 billion, a price-to-earnings ratio of -526.04 and a beta of 0.82.

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

Insider Transactions at Zscaler

In other Zscaler 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 sale, the insider now directly owns 103,259 shares of the company’s stock, valued at $17,686,201.52. The trade was a 4.45 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Andrew William Fraser Brown sold 8,000 shares of the business’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $174.10, for a total value of $1,392,800.00. Following the sale, the director now directly owns 25,907 shares in the company, valued at $4,510,408.70. The trade was a 23.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 30,502 shares of company stock valued at $5,256,651. 19.20% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several analysts have commented on ZS shares. UBS Group cut their target price on Zscaler from $270.00 to $250.00 and set a “buy” rating on the stock in a research note on Wednesday, September 4th. Robert W. Baird cut their target price on Zscaler from $260.00 to $225.00 and set an “outperform” rating on the stock in a research note on Wednesday, September 4th. Needham & Company LLC cut their target price on Zscaler from $290.00 to $235.00 and set a “strong-buy” rating on the stock in a research note on Wednesday, September 4th. BTIG Research cut their target price on Zscaler from $220.00 to $205.00 and set a “buy” rating on the stock in a research note on Wednesday, September 4th. Finally, Susquehanna restated a “positive” rating and issued a $210.00 price target on shares of Zscaler in a research note on Thursday, September 5th. Ten research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $218.55.

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.