Sumitomo Mitsui Trust Holdings Inc. Buys 10,406 Shares of Zscaler, Inc. (NASDAQ:ZS)

Sumitomo Mitsui Trust Holdings Inc. grew its stake in Zscaler, Inc. (NASDAQ:ZS) by 4.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 234,290 shares of the company’s stock after acquiring an additional 10,406 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned 0.16% of Zscaler worth $51,909,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of the stock. BluePath Capital Management LLC bought a new position in Zscaler in the third quarter valued at about $32,000. KB Financial Partners LLC acquired a new position in Zscaler during the 1st quarter valued at about $39,000. Coppell Advisory Solutions LLC bought a new position in shares of Zscaler in the 2nd quarter valued at about $45,000. Coppell Advisory Solutions Corp. acquired a new stake in shares of Zscaler during the 4th quarter worth approximately $45,000. Finally, Point72 Asset Management L.P. bought a new stake in shares of Zscaler during the second quarter worth approximately $54,000. 46.45% of the stock is currently owned by institutional investors and hedge funds.

Zscaler Price Performance

Zscaler stock opened at $172.97 on Friday. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.98 and a current ratio of 1.98. The firm has a 50-day moving average of $207.79 and a 200-day moving average of $202.60. Zscaler, Inc. has a one year low of $84.93 and a one year high of $259.61.

Zscaler (NASDAQ:ZS) last posted its quarterly earnings results on Thursday, February 29th. The company reported ($0.16) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.08. The firm had revenue of $525.00 million during the quarter, compared to the consensus estimate of $507.56 million. Zscaler had a negative return on equity of 14.60% and a negative net margin of 7.32%. On average, equities analysts anticipate that Zscaler, Inc. will post -0.81 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on ZS. Barclays reduced their price objective on shares of Zscaler from $259.00 to $240.00 and set an “overweight” rating on the stock in a research note on Friday, March 1st. Wedbush increased their target price on Zscaler from $250.00 to $260.00 and gave the company an “outperform” rating in a research note on Friday, March 1st. Sanford C. Bernstein reduced their target price on Zscaler from $311.00 to $280.00 and set an “outperform” rating on the stock in a report on Friday, March 1st. Morgan Stanley upped their price target on Zscaler from $195.00 to $214.00 and gave the company an “equal weight” rating in a research note on Monday, February 26th. Finally, Needham & Company LLC reissued a “strong-buy” rating and set a $290.00 price objective on shares of Zscaler in a research note on Friday, March 1st. Five analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Zscaler has an average rating of “Moderate Buy” and an average target price of $230.24.

Insider Buying and Selling

In other news, CEO Jagtar Singh Chaudhry sold 2,115 shares of the business’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $193.15, for a total transaction of $408,512.25. Following the transaction, the chief executive officer now directly owns 367,152 shares in the company, valued at approximately $70,915,408.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Jagtar Singh Chaudhry sold 2,115 shares of the firm’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $193.15, for a total value of $408,512.25. Following the completion of the sale, the chief executive officer now directly owns 367,152 shares of the company’s stock, valued at $70,915,408.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Syam Nair sold 2,893 shares of the business’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $193.15, for a total value of $558,782.95. Following the transaction, the insider now directly owns 137,294 shares in the company, valued at $26,518,336.10. The disclosure for this sale can be found here. Over the last three months, insiders have sold 26,715 shares of company stock worth $5,865,882. Insiders own 19.20% of the company’s stock.

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.