Perennial Investment Advisors LLC decreased its stake in Zscaler, Inc. (NASDAQ:ZS – Get Rating) by 50.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,000 shares of the company’s stock after selling 1,010 shares during the period. Perennial Investment Advisors LLC’s holdings in Zscaler were worth $241,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently made changes to their positions in ZS. Norges Bank purchased a new stake in shares of Zscaler in the 4th quarter valued at $202,020,000. Capital Research Global Investors lifted its stake in shares of Zscaler by 18.7% in the 4th quarter. Capital Research Global Investors now owns 3,117,454 shares of the company’s stock valued at $1,001,731,000 after acquiring an additional 490,831 shares during the last quarter. First Trust Advisors LP grew its position in Zscaler by 27.4% during the 4th quarter. First Trust Advisors LP now owns 1,293,179 shares of the company’s stock worth $415,537,000 after acquiring an additional 278,180 shares during the last quarter. ProShare Advisors LLC increased its stake in Zscaler by 5,657.1% in the 4th quarter. ProShare Advisors LLC now owns 237,481 shares of the company’s stock worth $76,310,000 after purchasing an additional 233,356 shares during the period. Finally, Migdal Insurance & Financial Holdings Ltd. boosted its stake in shares of Zscaler by 533.5% during the fourth quarter. Migdal Insurance & Financial Holdings Ltd. now owns 132,948 shares of the company’s stock valued at $42,775,000 after purchasing an additional 111,961 shares during the period. Hedge funds and other institutional investors own 43.41% of the company’s stock.
Analyst Upgrades and Downgrades
A number of equities research analysts recently commented on the stock. Robert W. Baird lowered their price target on shares of Zscaler from $300.00 to $200.00 and set an “outperform” rating for the company in a report on Friday, May 27th. Mizuho reiterated a “buy” rating and issued a $210.00 price objective on shares of Zscaler in a research report on Friday, May 27th. Royal Bank of Canada dropped their price target on Zscaler from $330.00 to $200.00 in a research note on Monday, May 23rd. Wells Fargo & Company dropped their target price on shares of Zscaler from $350.00 to $200.00 and set a “na” rating for the company in a research report on Monday, May 16th. Finally, Credit Suisse Group cut their target price on shares of Zscaler from $410.00 to $310.00 and set an “outperform” rating on the stock in a research note on Friday, May 27th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-four have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $246.65.
Insider Transactions at Zscaler
Zscaler Stock Up 0.9 %
ZS stock opened at $163.42 on Friday. The stock’s fifty day moving average price is $155.54 and its 200-day moving average price is $196.78. Zscaler, Inc. has a 1 year low of $125.12 and a 1 year high of $376.11. The company has a debt-to-equity ratio of 1.80, a quick ratio of 2.24 and a current ratio of 2.24.
Zscaler (NASDAQ:ZS – Get Rating) last announced its earnings results on Thursday, May 26th. The company reported ($0.61) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.63) by $0.02. Zscaler had a negative net margin of 38.52% and a negative return on equity of 58.37%. The company had revenue of $286.81 million during the quarter, compared to analyst estimates of $271.47 million. During the same period in the previous year, the business posted ($0.30) earnings per share. The firm’s quarterly revenue was up 62.6% compared to the same quarter last year. Equities analysts anticipate that Zscaler, Inc. will post -2.31 earnings per share for the current year.
Zscaler, Inc operates as a cloud security company worldwide. The company provides Zscaler Internet Access solution that provides users, servers, operational technology, Internet of Things device 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.
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