Forsta AP Fonden Sells 5,500 Shares of Zscaler, Inc. (NASDAQ:ZS)

Forsta AP Fonden lessened its position in Zscaler, Inc. (NASDAQ:ZS) by 12.3% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 39,100 shares of the company’s stock after selling 5,500 shares during the period. Forsta AP Fonden’s holdings in Zscaler were worth $7,054,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of ZS. Prestige Wealth Management Group LLC acquired a new position in shares of Zscaler in the 3rd quarter valued at approximately $31,000. Versant Capital Management Inc lifted its stake in Zscaler by 136.8% in the fourth quarter. Versant Capital Management Inc now owns 180 shares of the company’s stock valued at $32,000 after buying an additional 104 shares in the last quarter. True Wealth Design LLC boosted its holdings in shares of Zscaler by 18,500.0% in the third quarter. True Wealth Design LLC now owns 186 shares of the company’s stock valued at $32,000 after buying an additional 185 shares during the period. Modus Advisors LLC bought a new stake in shares of Zscaler during the fourth quarter worth $36,000. Finally, R Squared Ltd acquired a new stake in shares of Zscaler during the fourth quarter worth $38,000. 46.45% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Oppenheimer increased their target price on Zscaler from $230.00 to $250.00 and gave the stock an “outperform” rating in a report on Tuesday, December 3rd. Piper Sandler lifted their target price on Zscaler from $215.00 to $235.00 and gave the company an “overweight” rating in a research report on Tuesday, December 3rd. Barclays boosted their target price on Zscaler from $200.00 to $220.00 and gave the company an “overweight” rating in a research note on Thursday, November 21st. Stifel Nicolaus raised their price target on shares of Zscaler from $220.00 to $235.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Finally, BNP Paribas started coverage on shares of Zscaler in a research report on Tuesday, October 8th. They issued a “neutral” rating and a $180.00 price objective on the stock. Eleven research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $225.47.

Insider Activity at Zscaler

In other Zscaler news, CFO Remo Canessa sold 3,703 shares of the business’s stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $200.32, for a total value of $741,784.96. Following the completion of the transaction, the chief financial officer now owns 220,635 shares of the company’s stock, valued at $44,197,603.20. The trade was a 1.65 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Syam Nair sold 3,682 shares of the firm’s stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $200.32, for a total transaction of $737,578.24. Following the sale, the insider now owns 142,866 shares in the company, valued at approximately $28,618,917.12. This trade represents a 2.51 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 10,248 shares of company stock worth $2,052,879. 18.10% of the stock is owned by company insiders.

Zscaler Stock Performance

ZS opened at $202.59 on Friday. Zscaler, Inc. has a fifty-two week low of $153.45 and a fifty-two week high of $259.61. The firm has a 50-day moving average of $194.58 and a 200 day moving average of $187.90. The firm has a market cap of $31.09 billion, a P/E ratio of -810.36 and a beta of 0.87.

Zscaler (NASDAQ:ZS) last issued its earnings results on Monday, December 2nd. The company reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.14. Zscaler had a negative return on equity of 0.75% and a negative net margin of 1.58%. The firm had revenue of $628.00 million for the quarter, compared to analyst estimates of $605.51 million. During the same period in the previous year, the company posted ($0.18) earnings per share. The business’s revenue was up 26.4% on a year-over-year basis. Equities research analysts predict that Zscaler, Inc. will post -0.1 earnings per share 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.