BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp trimmed its stake in Zscaler, Inc. (NASDAQ:ZS – Get Rating) by 3.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 14,464 shares of the company’s stock after selling 580 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Zscaler were worth $4,648,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in ZS. Hoylecohen LLC grew its stake in Zscaler by 17.7% during the 4th quarter. Hoylecohen LLC now owns 933 shares of the company’s stock worth $300,000 after buying an additional 140 shares during the last quarter. Geode Capital Management LLC grew its stake in Zscaler by 6.1% during the 4th quarter. Geode Capital Management LLC now owns 1,074,070 shares of the company’s stock worth $344,632,000 after buying an additional 61,346 shares during the last quarter. Level Four Advisory Services LLC purchased a new position in Zscaler during the 4th quarter worth $233,000. Northeast Financial Consultants Inc grew its stake in Zscaler by 4.0% during the 4th quarter. Northeast Financial Consultants Inc now owns 1,840 shares of the company’s stock valued at $591,000 after purchasing an additional 70 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in Zscaler by 3.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 239,768 shares of the company’s stock valued at $77,046,000 after purchasing an additional 7,884 shares during the last quarter. 43.41% of the stock is owned by hedge funds and other institutional investors.
In related news, President Amit Sinha sold 6,000 shares of the stock in a transaction that occurred on Monday, April 4th. The stock was sold at an average price of $250.89, for a total value of $1,505,340.00. Following the completion of the transaction, the president now directly owns 275,860 shares in the company, valued at $69,210,515.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Robert Schlossman sold 3,157 shares of the stock in a transaction on Wednesday, March 16th. The shares were sold at an average price of $203.09, for a total value of $641,155.13. The disclosure for this sale can be found here. Insiders have sold 36,779 shares of company stock valued at $7,896,977 in the last three months. Insiders own 20.30% of the company’s stock.
Zscaler (NASDAQ:ZS – Get Rating) last announced its earnings results on Thursday, February 24th. The company reported ($0.60) EPS for the quarter, missing analysts’ consensus estimates of ($0.57) by ($0.03). Zscaler had a negative net margin of 38.47% and a negative return on equity of 51.11%. The firm had revenue of $255.56 million for the quarter, compared to analyst estimates of $241.87 million. During the same period in the previous year, the company earned ($0.39) EPS. Zscaler’s revenue was up 62.7% compared to the same quarter last year. As a group, research analysts anticipate that Zscaler, Inc. will post -2.34 EPS for the current fiscal year.
ZS has been the topic of several research analyst reports. Stifel Nicolaus dropped their price target on Zscaler from $310.00 to $300.00 and set a “buy” rating on the stock in a research note on Monday, March 21st. Daiwa Capital Markets upgraded Zscaler from an “underperform” rating to a “buy” rating and boosted their price target for the company from $286.00 to $296.00 in a research note on Tuesday, March 1st. Stephens initiated coverage on Zscaler in a research note on Wednesday. They set an “overweight” rating on the stock. Mizuho dropped their price target on Zscaler from $350.00 to $210.00 and set a “buy” rating on the stock in a research note on Wednesday, May 18th. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on Zscaler from $430.00 to $280.00 and set a “buy” rating on the stock in a research note on Friday, February 25th. One research analyst has rated the stock with a sell rating, six have given a hold rating and twenty-four have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $293.66.
Zscaler Profile (Get Rating)
Zscaler, Inc operates as a cloud security company worldwide. The company provides Zscaler Internet Access solution that provides users, servers, operational technology, Internet of Things device 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.
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