CI Investments Inc. trimmed its holdings in shares of Zscaler, Inc. (NASDAQ:ZS – Get Rating) by 95.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,120 shares of the company’s stock after selling 66,755 shares during the quarter. CI Investments Inc.’s holdings in Zscaler were worth $349,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also made changes to their positions in ZS. Vanguard Group Inc. increased its stake in shares of Zscaler by 2.1% during the third quarter. Vanguard Group Inc. now owns 7,940,800 shares of the company’s stock valued at $1,305,230,000 after buying an additional 162,289 shares during the period. Artisan Partners Limited Partnership grew its stake in Zscaler by 156.0% in the fourth quarter. Artisan Partners Limited Partnership now owns 4,774,237 shares of the company’s stock valued at $534,237,000 after purchasing an additional 2,909,057 shares during the last quarter. First Trust Advisors LP grew its stake in Zscaler by 17.7% in the fourth quarter. First Trust Advisors LP now owns 1,777,929 shares of the company’s stock valued at $198,947,000 after purchasing an additional 267,441 shares during the last quarter. Renaissance Technologies LLC purchased a new position in Zscaler in the first quarter valued at about $168,365,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Zscaler by 14.1% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 557,345 shares of the company’s stock worth $134,476,000 after acquiring an additional 68,982 shares during the last quarter. 45.33% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
A number of equities research analysts have recently weighed in on ZS shares. Capital One Financial started coverage on Zscaler in a research note on Friday, March 17th. They set an “equal weight” rating and a $125.00 price target on the stock. JPMorgan Chase & Co. assumed coverage on Zscaler in a report on Tuesday, January 24th. They set a “neutral” rating and a $124.00 target price for the company. Rosenblatt Securities assumed coverage on Zscaler in a report on Monday, May 1st. They set a “buy” rating and a $135.00 target price for the company. Wells Fargo & Company decreased their target price on Zscaler from $160.00 to $156.00 and set an “overweight” rating for the company in a report on Friday, March 3rd. Finally, KGI Securities downgraded Zscaler from an “outperform” rating to a “neutral” rating in a report on Wednesday, March 8th. Fourteen investment analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $167.68.
Insiders Place Their Bets
In related news, CFO Remo Canessa sold 6,229 shares of the company’s stock in a transaction on Thursday, March 16th. The stock was sold at an average price of $106.79, for a total value of $665,194.91. Following the completion of the transaction, the chief financial officer now directly owns 295,863 shares in the company, valued at $31,595,209.77. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Zscaler news, CFO Remo Canessa sold 6,229 shares of the company’s stock in a transaction dated Thursday, March 16th. The stock was sold at an average price of $106.79, for a total transaction of $665,194.91. Following the completion of the sale, the chief financial officer now directly owns 295,863 shares in the company, valued at $31,595,209.77. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Robert Schlossman sold 3,645 shares of the company’s stock in a transaction dated Thursday, March 16th. The stock was sold at an average price of $106.79, for a total value of $389,249.55. Following the sale, the insider now owns 132,553 shares of the company’s stock, valued at $14,155,334.87. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 16,412 shares of company stock worth $1,752,637. 19.80% of the stock is owned by corporate insiders.
Zscaler Trading Up 2.9 %
NASDAQ:ZS opened at $128.86 on Tuesday. The firm has a market cap of $18.70 billion, a P/E ratio of -56.27 and a beta of 0.85. The company has a current ratio of 2.01, a quick ratio of 2.01 and a debt-to-equity ratio of 2.16. The stock’s 50 day simple moving average is $106.59 and its 200-day simple moving average is $117.52. Zscaler, Inc. has a 12-month low of $84.93 and a 12-month high of $194.21.
Zscaler (NASDAQ:ZS – Get Rating) last posted its quarterly earnings results on Thursday, March 2nd. The company reported ($0.35) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.43) by $0.08. Zscaler had a negative return on equity of 50.58% and a negative net margin of 24.08%. The firm had revenue of $387.60 million for the quarter, compared to the consensus estimate of $363.80 million. Equities analysts anticipate that Zscaler, Inc. will post -1.19 EPS for the current year.
About Zscaler
Zscaler, Inc engages in the provision of a cloud-based internet security platform. It offers Zero Trust Exchange, Zscaler Client Connector, Zscaler Internet Access, Zscaler Private Access, Zscaler B2B, Zscaler Cloud Protection, and Zscaler Digital Experience. The company was founded by Jagtar Singh Chaudhry and K.