Zscaler, Inc. (NASDAQ:ZS) Stake Increased by CIBC Asset Management Inc

CIBC Asset Management Inc boosted its holdings in Zscaler, Inc. (NASDAQ:ZS) by 4.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 29,774 shares of the company’s stock after purchasing an additional 1,323 shares during the quarter. CIBC Asset Management Inc’s holdings in Zscaler were worth $5,090,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC boosted its holdings in Zscaler by 8.6% in the second quarter. EverSource Wealth Advisors LLC now owns 832 shares of the company’s stock worth $149,000 after purchasing an additional 66 shares during the period. GAMMA Investing LLC boosted its holdings in shares of Zscaler by 21.3% during the second quarter. GAMMA Investing LLC now owns 382 shares of the company’s stock valued at $73,000 after acquiring an additional 67 shares during the period. American Trust boosted its holdings in shares of Zscaler by 6.1% during the second quarter. American Trust now owns 1,210 shares of the company’s stock valued at $233,000 after acquiring an additional 70 shares during the period. Valley Brook Capital Group Inc. boosted its holdings in shares of Zscaler by 4.0% during the third quarter. Valley Brook Capital Group Inc. now owns 1,972 shares of the company’s stock valued at $337,000 after acquiring an additional 75 shares during the period. Finally, Swedbank AB boosted its holdings in shares of Zscaler by 0.8% during the second quarter. Swedbank AB now owns 9,036 shares of the company’s stock valued at $1,737,000 after acquiring an additional 76 shares during the period. Institutional investors and hedge funds own 46.45% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. UBS Group reduced their price target on shares of Zscaler from $270.00 to $250.00 and set a “buy” rating for the company in a report on Wednesday, September 4th. Morgan Stanley boosted their price target on shares of Zscaler from $202.00 to $215.00 and gave the company an “equal weight” rating in a report on Monday, August 26th. Wells Fargo & Company cut their price objective on shares of Zscaler from $182.00 to $180.00 and set an “equal weight” rating on the stock in a research note on Wednesday, September 4th. Barclays cut their price objective on shares of Zscaler from $230.00 to $200.00 and set an “overweight” rating on the stock in a research note on Wednesday, September 4th. Finally, Citigroup cut their price objective on shares of Zscaler from $240.00 to $230.00 and set a “buy” rating on the stock in a research note on Friday, October 4th. Ten analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Zscaler currently has an average rating of “Moderate Buy” and a consensus price target of $217.18.

Zscaler Price Performance

NASDAQ:ZS opened at $201.47 on Monday. Zscaler, Inc. has a fifty-two week low of $153.45 and a fifty-two week high of $259.61. The stock’s 50-day moving average is $182.23 and its two-hundred day moving average is $182.66. The stock has a market cap of $30.72 billion, a PE ratio of -503.68 and a beta of 0.82.

Zscaler (NASDAQ:ZS) last released its earnings results on Tuesday, September 3rd. The company reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.14) by $0.09. The company had revenue of $592.90 million for the quarter, compared to analysts’ expectations of $567.46 million. Zscaler had a negative return on equity of 3.46% and a negative net margin of 2.66%. The business’s revenue for the quarter was up 30.3% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.17) EPS. On average, equities research analysts anticipate that Zscaler, Inc. will post -0.97 earnings per share for the current year.

Insider Activity at Zscaler

In other Zscaler news, insider Michael J. Rich sold 4,813 shares of the company’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $171.28, for a total transaction of $824,370.64. Following the completion of the sale, the insider now owns 103,259 shares of the company’s stock, valued at $17,686,201.52. This represents a 4.45 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Andrew William Fraser Brown sold 8,000 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $174.10, for a total value of $1,392,800.00. Following the sale, the director now directly owns 25,907 shares of the company’s stock, valued at $4,510,408.70. The trade was a 23.59 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 30,502 shares of company stock valued at $5,256,651. 19.20% of the stock is owned by corporate insiders.

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.