Intech Investment Management LLC Cuts Stock Holdings in Zscaler, Inc. (NASDAQ:ZS)

Intech Investment Management LLC reduced its stake in shares of Zscaler, Inc. (NASDAQ:ZS) by 44.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,426 shares of the company’s stock after selling 3,484 shares during the quarter. Intech Investment Management LLC’s holdings in Zscaler were worth $757,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of ZS. Bank of New York Mellon Corp boosted 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 during the period. Federated Hermes Inc. raised its stake in shares of Zscaler by 18.3% during the second quarter. Federated Hermes Inc. now owns 394,698 shares of the company’s stock valued at $75,857,000 after acquiring an additional 61,037 shares during the last quarter. Ensign Peak Advisors Inc boosted its holdings in shares of Zscaler by 14.4% during the second quarter. Ensign Peak Advisors Inc now owns 295,525 shares of the company’s stock worth $56,797,000 after purchasing an additional 37,137 shares during the period. International Assets Investment Management LLC grew its stake in shares of Zscaler by 13,498.6% in the third quarter. International Assets Investment Management LLC now owns 285,299 shares of the company’s stock worth $48,769,000 after purchasing an additional 283,201 shares during the last quarter. Finally, Swiss National Bank increased its holdings 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 period. Hedge funds and other institutional investors own 46.45% of the company’s stock.

Insider Activity at Zscaler

In other news, CEO Jagtar Singh Chaudhry sold 2,852 shares of the company’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 $488,490.56. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Robert Schlossman sold 1,435 shares of the firm’s stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $181.70, for a total transaction of $260,739.50. Following the completion of the transaction, the insider now directly owns 105,806 shares in the company, valued at $19,224,950.20. This represents a 1.34 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 30,502 shares of company stock valued at $5,256,651. Corporate insiders own 19.20% of the company’s stock.

Analyst Ratings Changes

ZS has been the subject of several research analyst reports. Citigroup dropped their price objective on Zscaler from $240.00 to $230.00 and set a “buy” rating for the company in a report on Friday, October 4th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $230.00 price target on shares of Zscaler in a research note on Wednesday, September 4th. UBS Group reduced their price objective on shares of Zscaler from $270.00 to $250.00 and set a “buy” rating on the stock in a research report on Wednesday, September 4th. Scotiabank cut their price objective on Zscaler from $210.00 to $195.00 and set a “sector outperform” rating on the stock in a research report on Wednesday, September 4th. Finally, 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 report on Wednesday, September 4th. Ten research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $221.13.

Zscaler Stock Performance

Zscaler stock opened at $206.59 on Friday. The stock has a fifty day moving average of $189.44 and a 200 day moving average of $184.50. Zscaler, Inc. has a one year low of $153.45 and a one year high of $259.61. The stock has a market cap of $31.70 billion, a PE ratio of -512.39 and a beta of 0.82.

Zscaler (NASDAQ:ZS) last released its earnings results on Tuesday, September 3rd. The company reported ($0.05) EPS 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 for the quarter, compared to analysts’ expectations of $567.46 million. During the same quarter last year, the business earned ($0.17) EPS. The firm’s revenue was up 30.3% compared to the same quarter last year. As a group, sell-side analysts predict that Zscaler, Inc. will post -0.95 EPS for the current fiscal year.

About Zscaler

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.