Daiwa Securities Group Inc. Has $3.67 Million Holdings in Zscaler, Inc. (NASDAQ:ZS)

Daiwa Securities Group Inc. raised its stake in shares of Zscaler, Inc. (NASDAQ:ZS) by 10.5% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 21,460 shares of the company’s stock after purchasing an additional 2,039 shares during the period. Daiwa Securities Group Inc.’s holdings in Zscaler were worth $3,668,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. DekaBank Deutsche Girozentrale lifted its holdings in shares of Zscaler by 7.1% in the third quarter. DekaBank Deutsche Girozentrale now owns 221,212 shares of the company’s stock valued at $37,495,000 after purchasing an additional 14,701 shares in the last quarter. Creative Planning lifted its stake in Zscaler by 7.6% during the 3rd quarter. Creative Planning now owns 148,534 shares of the company’s stock valued at $25,390,000 after acquiring an additional 10,551 shares in the last quarter. Massachusetts Financial Services Co. MA purchased a new position in Zscaler during the 2nd quarter worth $25,287,000. Strategic Advisors LLC grew its stake in shares of Zscaler by 470.0% in the 3rd quarter. Strategic Advisors LLC now owns 8,140 shares of the company’s stock worth $1,391,000 after acquiring an additional 6,712 shares in the last quarter. Finally, Van ECK Associates Corp lifted its position in shares of Zscaler by 1,786.5% during the third quarter. Van ECK Associates Corp now owns 15,073 shares of the company’s stock valued at $2,728,000 after purchasing an additional 14,274 shares in the last quarter. 46.45% of the stock is owned by institutional investors.

Zscaler Stock Down 0.1 %

NASDAQ:ZS opened at $210.30 on Wednesday. Zscaler, Inc. has a twelve month low of $153.45 and a twelve month high of $259.61. The stock has a market cap of $32.07 billion, a P/E ratio of -525.75 and a beta of 0.82. The business’s 50-day moving average price is $187.27 and its two-hundred day moving average price is $183.96.

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

Insider Buying and Selling at Zscaler

In related news, insider Robert Schlossman sold 4,947 shares of the stock in a transaction on Monday, September 30th. The shares were sold at an average price of $170.22, for a total transaction of $842,078.34. Following the transaction, the insider now owns 107,241 shares of the company’s stock, valued at approximately $18,254,563.02. This trade represents a 4.41 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Michael J. Rich sold 4,813 shares of the business’s stock in a transaction 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 completion of the sale, the insider now directly owns 103,259 shares of the company’s stock, valued at $17,686,201.52. This represents a 4.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 30,502 shares of company stock worth $5,256,651 over the last 90 days. Corporate insiders own 19.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on ZS. Royal Bank of Canada reiterated an “outperform” rating and issued a $230.00 price objective on shares of Zscaler in a research note on Wednesday, September 4th. Bank of America cut Zscaler from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $265.00 to $195.00 in a research report on Wednesday, September 4th. Morgan Stanley raised their target price on Zscaler from $202.00 to $215.00 and gave the company an “equal weight” rating in a research report on Monday, August 26th. BNP Paribas assumed coverage on shares of Zscaler in a report on Tuesday, October 8th. They issued a “neutral” rating and a $180.00 price target on the stock. Finally, Needham & Company LLC decreased their price objective on shares of Zscaler from $290.00 to $235.00 and set a “strong-buy” rating for the company in a report on Wednesday, September 4th. Ten analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $219.32.

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.