Principal Financial Group Inc. trimmed its holdings in Zscaler, Inc. (NASDAQ:ZS) by 4.2% during the third quarter, Holdings Channel reports. The institutional investor owned 111,615 shares of the company’s stock after selling 4,876 shares during the quarter. Principal Financial Group Inc.’s holdings in Zscaler were worth $29,268,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in ZS. First Horizon Advisors Inc. lifted its stake in shares of Zscaler by 75.1% in the third quarter. First Horizon Advisors Inc. now owns 506 shares of the company’s stock valued at $32,000 after buying an additional 217 shares in the last quarter. Allworth Financial LP lifted its position in shares of Zscaler by 48.0% during the third quarter. Allworth Financial LP now owns 148 shares of the company’s stock valued at $39,000 after purchasing an additional 48 shares in the last quarter. KB Financial Partners LLC bought a new position in shares of Zscaler during the second quarter valued at about $40,000. AllSquare Wealth Management LLC lifted its position in shares of Zscaler by 300.0% during the second quarter. AllSquare Wealth Management LLC now owns 200 shares of the company’s stock valued at $43,000 after purchasing an additional 150 shares in the last quarter. Finally, Berman Capital Advisors LLC lifted its position in shares of Zscaler by 128.6% during the second quarter. Berman Capital Advisors LLC now owns 240 shares of the company’s stock valued at $51,000 after purchasing an additional 135 shares in the last quarter. 43.09% of the stock is currently owned by hedge funds and other institutional investors.
ZS has been the topic of a number of recent analyst reports. Royal Bank of Canada raised their price target on shares of Zscaler from $326.00 to $380.00 and gave the company an “outperform” rating in a research report on Monday, November 29th. Wolfe Research raised their price target on shares of Zscaler from $325.00 to $400.00 and gave the company an “outperform” rating in a research report on Wednesday, December 1st. JPMorgan Chase & Co. lowered shares of Zscaler from a “neutral” rating to an “underweight” rating and dropped their price target for the company from $362.00 to $320.00 in a research report on Tuesday, December 14th. The Goldman Sachs Group raised their price objective on shares of Zscaler from $295.00 to $386.00 and gave the stock a “neutral” rating in a report on Wednesday, December 1st. Finally, Needham & Company LLC restated a “buy” rating and set a $417.00 price objective on shares of Zscaler in a report on Wednesday, December 1st. Two analysts have rated the stock with a sell rating, five have given a hold rating and twenty-one have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $363.74.
Zscaler (NASDAQ:ZS) last issued its quarterly earnings data on Tuesday, November 30th. The company reported $0.14 EPS for the quarter, beating the consensus estimate of $0.12 by $0.02. The company had revenue of $230.52 million during the quarter, compared to analysts’ expectations of $212.33 million. Zscaler had a negative net margin of 39.13% and a negative return on equity of 45.93%. Zscaler’s revenue for the quarter was up 61.7% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.28) earnings per share. On average, equities analysts forecast that Zscaler, Inc. will post -2.33 earnings per share for the current fiscal year.
In other Zscaler news, Director Karen Blasing sold 2,000 shares of Zscaler stock in a transaction that occurred on Monday, December 6th. The shares were sold at an average price of $277.32, for a total transaction of $554,640.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Remo Canessa sold 4,730 shares of Zscaler stock in a transaction that occurred on Thursday, December 16th. The shares were sold at an average price of $300.01, for a total transaction of $1,419,047.30. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 81,267 shares of company stock valued at $25,658,622. 20.30% of the stock is owned by corporate insiders.
Zscaler, Inc engages in the provision of cloud-based internet security platform. It provides integrated and comprehensive solutions to customers using cloud platform, the Zscaler Zero Trust Exchange. The firm offers Zcaler internet access, private access, digital experience, and cloud protection. The company was founded by Jagtar Singh Chaudhry and K.
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