SBI Securities Co. Ltd. Purchases New Stake in Zscaler, Inc. (NASDAQ:ZS)

SBI Securities Co. Ltd. purchased a new stake in shares of Zscaler, Inc. (NASDAQ:ZS) in the fourth quarter, Holdings Channel reports. The firm purchased 19,201 shares of the company’s stock, valued at approximately $3,464,000.

Other institutional investors have also recently bought and sold shares of the company. Global X Japan Co. Ltd. lifted its holdings in shares of Zscaler by 127.4% in the fourth quarter. Global X Japan Co. Ltd. now owns 141 shares of the company’s stock valued at $25,000 after purchasing an additional 79 shares in the last quarter. Stonebridge Financial Group LLC purchased a new stake in Zscaler in the 4th quarter valued at $29,000. Prestige Wealth Management Group LLC bought a new position in Zscaler during the 3rd quarter valued at $31,000. True Wealth Design LLC boosted its holdings in Zscaler by 18,500.0% during the 3rd quarter. True Wealth Design LLC now owns 186 shares of the company’s stock worth $32,000 after acquiring an additional 185 shares during the last quarter. Finally, Versant Capital Management Inc grew its stake in shares of Zscaler by 136.8% in the 4th quarter. Versant Capital Management Inc now owns 180 shares of the company’s stock worth $32,000 after acquiring an additional 104 shares in the last quarter. Institutional investors and hedge funds own 46.45% of the company’s stock.

Insider Activity

In related news, insider Syam Nair sold 3,682 shares of the business’s stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $200.32, for a total transaction of $737,578.24. Following the transaction, the insider now owns 142,866 shares in the company, valued at $28,618,917.12. The trade was a 2.51 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Remo Canessa sold 3,703 shares of the stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $200.32, for a total value of $741,784.96. Following the completion of the sale, the chief financial officer now owns 220,635 shares of the company’s stock, valued at approximately $44,197,603.20. This trade represents a 1.65 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 10,248 shares of company stock valued at $2,052,879. 18.10% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

ZS has been the topic of a number of recent analyst reports. KeyCorp lifted their price target on Zscaler from $245.00 to $250.00 and gave the stock an “overweight” rating in a report on Tuesday, December 3rd. Piper Sandler boosted their target price on shares of Zscaler from $215.00 to $235.00 and gave the company an “overweight” rating in a research note on Tuesday, December 3rd. Barclays lifted their price target on shares of Zscaler from $220.00 to $250.00 and gave the stock an “overweight” rating in a report on Friday, February 21st. Royal Bank of Canada reissued an “outperform” rating and issued a $230.00 target price on shares of Zscaler in a research report on Tuesday, December 3rd. Finally, Canaccord Genuity Group upped their price target on Zscaler from $220.00 to $230.00 and gave the company a “buy” rating in a research report on Tuesday, December 3rd. Eleven equities research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $226.56.

Zscaler Trading Up 2.2 %

ZS opened at $196.23 on Monday. Zscaler, Inc. has a 12 month low of $153.45 and a 12 month high of $243.94. The business’s 50-day moving average price is $195.64 and its 200-day moving average price is $191.54. The company has a market cap of $30.11 billion, a P/E ratio of -784.92 and a beta of 0.89.

Zscaler (NASDAQ:ZS) last announced its quarterly earnings results on Monday, December 2nd. The company reported $0.77 EPS for the quarter, topping analysts’ consensus estimates 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 business had revenue of $628.00 million for the quarter, compared to analysts’ expectations of $605.51 million. During the same period in the previous year, the firm earned ($0.18) EPS. The business’s quarterly revenue was up 26.4% on a year-over-year basis. Equities research analysts forecast that Zscaler, Inc. will post -0.1 earnings per share for the current fiscal year.

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.