Nisa Investment Advisors LLC Trims Stake in Zscaler, Inc. (NASDAQ:ZS)

Nisa Investment Advisors LLC reduced its position in shares of Zscaler, Inc. (NASDAQ:ZS – Get Rating) by 96.6% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 495 shares of the company’s stock after selling 14,169 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Zscaler were worth $119,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. Capital Research Global Investors increased its holdings in shares of Zscaler by 18.7% in the 4th quarter. Capital Research Global Investors now owns 3,117,454 shares of the company’s stock valued at $1,001,731,000 after acquiring an additional 490,831 shares during the period. First Trust Advisors LP increased its holdings in shares of Zscaler by 27.4% in the 4th quarter. First Trust Advisors LP now owns 1,293,179 shares of the company’s stock valued at $415,537,000 after acquiring an additional 278,180 shares during the period. Nuveen Asset Management LLC increased its holdings in shares of Zscaler by 3.3% in the 4th quarter. Nuveen Asset Management LLC now owns 1,220,097 shares of the company’s stock valued at $392,054,000 after acquiring an additional 38,586 shares during the period. Geode Capital Management LLC increased its holdings in shares of Zscaler by 6.1% in the 4th quarter. Geode Capital Management LLC now owns 1,074,070 shares of the company’s stock valued at $344,632,000 after acquiring an additional 61,346 shares during the period. Finally, Norges Bank purchased a new position in shares of Zscaler in the 4th quarter valued at $202,020,000. 43.41% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently issued reports on ZS. Truist Financial cut their price target on Zscaler from $275.00 to $250.00 and set a “buy” rating on the stock in a report on Tuesday. Wells Fargo & Company lowered their price objective on Zscaler from $350.00 to $200.00 and set a “na” rating for the company in a research report on Monday, May 16th. Barclays raised their price objective on Zscaler from $147.00 to $168.00 and gave the stock an “equal weight” rating in a research report on Friday, May 27th. Cowen lowered their price objective on Zscaler from $405.00 to $194.00 and set an “outperform” rating for the company in a research report on Friday, May 27th. Finally, Credit Suisse Group lowered their price objective on Zscaler from $410.00 to $310.00 and set an “outperform” rating for the company in a research report on Friday, May 27th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-four have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $246.65.

Insiders Place Their Bets

In other Zscaler news, COO Dali Rajic sold 25,000 shares of the business’s stock in a transaction that occurred on Friday, June 3rd. The stock was sold at an average price of $155.80, for a total transaction of $3,895,000.00. Following the completion of the sale, the chief operating officer now directly owns 231,574 shares in the company, valued at approximately $36,079,229.20. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other Zscaler news, insider Robert Schlossman sold 4,184 shares of the business’s stock in a transaction that occurred on Thursday, June 16th. The stock was sold at an average price of $136.67, for a total transaction of $571,827.28. Following the completion of the sale, the insider now directly owns 112,861 shares in the company, valued at approximately $15,424,712.87. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, COO Dali Rajic sold 25,000 shares of the business’s stock in a transaction that occurred on Friday, June 3rd. The stock was sold at an average price of $155.80, for a total value of $3,895,000.00. Following the transaction, the chief operating officer now owns 231,574 shares in the company, valued at $36,079,229.20. The disclosure for this sale can be found here. In the last three months, insiders sold 49,710 shares of company stock worth $7,275,302. Corporate insiders own 20.30% of the company’s stock.

Zscaler Price Performance

Shares of Zscaler stock opened at $153.06 on Friday. The company has a quick ratio of 2.24, a current ratio of 2.24 and a debt-to-equity ratio of 1.80. Zscaler, Inc. has a twelve month low of $125.12 and a twelve month high of $376.11. The business has a 50-day moving average price of $152.73 and a 200 day moving average price of $201.89. The firm has a market cap of $21.71 billion, a PE ratio of -57.33 and a beta of 1.09.

Zscaler (NASDAQ:ZS – Get Rating) last announced its quarterly earnings results on Thursday, May 26th. The company reported ($0.61) earnings per share for the quarter, beating the consensus estimate of ($0.63) by $0.02. Zscaler had a negative return on equity of 58.37% and a negative net margin of 38.52%. The firm had revenue of $286.81 million during the quarter, compared to analyst estimates of $271.47 million. During the same quarter in the previous year, the business earned ($0.30) EPS. Zscaler’s revenue for the quarter was up 62.6% compared to the same quarter last year. Sell-side analysts predict that Zscaler, Inc. will post -2.31 earnings per share for the current fiscal year.

About Zscaler

(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.