4,213 Shares in Zscaler, Inc. (NASDAQ:ZS) Acquired by Central Pacific Bank Trust Division

Central Pacific Bank Trust Division bought a new position in Zscaler, Inc. (NASDAQ:ZS) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 4,213 shares of the company’s stock, valued at approximately $809,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ZS. Sierra Summit Advisors LLC bought a new stake in shares of Zscaler during the fourth quarter valued at approximately $5,609,000. Sequoia Financial Advisors LLC bought a new stake in shares of Zscaler during the fourth quarter valued at approximately $9,674,000. Nordea Investment Management AB increased its position in shares of Zscaler by 463.5% during the fourth quarter. Nordea Investment Management AB now owns 29,803 shares of the company’s stock valued at $6,629,000 after purchasing an additional 24,514 shares during the period. Norges Bank bought a new stake in shares of Zscaler during the fourth quarter valued at approximately $117,599,000. Finally, Vanguard Group Inc. increased its position in shares of Zscaler by 1.5% during the third quarter. Vanguard Group Inc. now owns 8,636,864 shares of the company’s stock valued at $1,343,810,000 after purchasing an additional 129,090 shares during the period. 46.45% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Zscaler

In other news, CFO Remo Canessa sold 7,981 shares of the firm’s stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $177.21, for a total value of $1,414,313.01. Following the completion of the sale, the chief financial officer now directly owns 243,486 shares of the company’s stock, valued at $43,148,154.06. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 19.20% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on ZS. Rosenblatt Securities restated a “neutral” rating and set a $190.00 price objective on shares of Zscaler in a research report on Tuesday, May 28th. Citigroup lowered their price target on Zscaler from $270.00 to $240.00 and set a “buy” rating on the stock in a research report on Wednesday, June 5th. Canaccord Genuity Group lowered their price target on Zscaler from $260.00 to $220.00 and set a “buy” rating on the stock in a research report on Tuesday, June 4th. JMP Securities reiterated a “market outperform” rating and issued a $270.00 price target on shares of Zscaler in a research report on Monday, June 17th. Finally, Robert W. Baird lowered their price target on Zscaler from $265.00 to $260.00 and set an “outperform” rating on the stock in a research report on Friday, May 24th. Six equities research analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $225.21.

Zscaler Stock Down 2.1 %

Shares of NASDAQ:ZS traded down $4.27 during mid-day trading on Tuesday, reaching $197.36. 1,559,390 shares of the stock were exchanged, compared to its average volume of 2,244,509. The company has a quick ratio of 1.75, a current ratio of 1.75 and a debt-to-equity ratio of 1.04. The company has a market cap of $29.83 billion, a P/E ratio of -386.98 and a beta of 0.85. Zscaler, Inc. has a one year low of $131.59 and a one year high of $259.61. The stock’s 50 day simple moving average is $180.16 and its 200-day simple moving average is $201.54.

Zscaler (NASDAQ:ZS) last posted its quarterly earnings data on Thursday, May 30th. The company reported $0.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.39. The business had revenue of $553.20 million during the quarter, compared to the consensus estimate of $535.55 million. Zscaler had a negative return on equity of 5.84% and a negative net margin of 3.62%. As a group, equities research analysts predict that Zscaler, Inc. will post -0.34 EPS for the current 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.