Daiwa Securities Group Inc. Raises Stock Position in Zscaler, Inc. (NASDAQ:ZS)

Daiwa Securities Group Inc. boosted its position in shares of Zscaler, Inc. (NASDAQ:ZS) by 56.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,426 shares of the company’s stock after acquiring an additional 6,662 shares during the period. Daiwa Securities Group Inc.’s holdings in Zscaler were worth $4,082,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. BluePath Capital Management LLC purchased a new position in Zscaler in the 3rd quarter worth approximately $32,000. KB Financial Partners LLC purchased a new position in Zscaler in the 1st quarter worth approximately $39,000. Coppell Advisory Solutions LLC purchased a new position in Zscaler in the 2nd quarter worth approximately $45,000. Coppell Advisory Solutions Corp. purchased a new position in Zscaler in the 4th quarter worth approximately $45,000. Finally, Point72 Asset Management L.P. purchased a new position in Zscaler in the 2nd quarter worth approximately $54,000. Hedge funds and other institutional investors own 46.45% of the company’s stock.

Insiders Place Their Bets

In other Zscaler news, insider Syam Nair sold 2,893 shares of the stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $193.15, for a total transaction of $558,782.95. Following the completion of the sale, the insider now directly owns 137,294 shares of the company’s stock, valued at approximately $26,518,336.10. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other Zscaler news, Director Karen Blasing sold 7,000 shares of the stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $250.90, for a total transaction of $1,756,300.00. Following the completion of the sale, the director now directly owns 40,372 shares of the company’s stock, valued at approximately $10,129,334.80. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Syam Nair sold 2,893 shares of the stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $193.15, for a total transaction of $558,782.95. Following the sale, the insider now directly owns 137,294 shares of the company’s stock, valued at $26,518,336.10. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 26,715 shares of company stock worth $5,865,882. Company insiders own 19.20% of the company’s stock.

Zscaler Trading Down 2.2 %

Shares of NASDAQ:ZS opened at $169.21 on Friday. The firm’s 50 day moving average price is $206.08 and its 200-day moving average price is $203.02. Zscaler, Inc. has a twelve month low of $84.93 and a twelve month high of $259.61. The company has a current ratio of 1.98, a quick ratio of 1.98 and a debt-to-equity ratio of 1.19.

Zscaler (NASDAQ:ZS) last released its earnings results on Thursday, February 29th. The company reported ($0.16) EPS for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.08. Zscaler had a negative net margin of 7.32% and a negative return on equity of 14.60%. The company had revenue of $525.00 million for the quarter, compared to analysts’ expectations of $507.56 million. Research analysts predict that Zscaler, Inc. will post -0.81 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Truist Financial reissued a “buy” rating and issued a $260.00 price target on shares of Zscaler in a research note on Monday, April 1st. Wedbush boosted their price objective on shares of Zscaler from $250.00 to $260.00 and gave the stock an “outperform” rating in a report on Friday, March 1st. Morgan Stanley boosted their price objective on shares of Zscaler from $195.00 to $214.00 and gave the stock an “equal weight” rating in a report on Monday, February 26th. Rosenblatt Securities boosted their price objective on shares of Zscaler from $285.00 to $290.00 and gave the stock a “buy” rating in a report on Friday, March 1st. Finally, Barclays lowered their price objective on shares of Zscaler from $259.00 to $240.00 and set an “overweight” rating for the company in a report on Friday, March 1st. Five investment analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $230.24.

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.