Mirae Asset Global Investments Co. Ltd. Cuts Position in Zscaler, Inc. (NASDAQ:ZS)

Mirae Asset Global Investments Co. Ltd. reduced its stake in shares of Zscaler, Inc. (NASDAQ:ZS) by 0.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 44,004 shares of the company’s stock after selling 184 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Zscaler were worth $8,121,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in ZS. Prestige Wealth Management Group LLC acquired a new position in shares of Zscaler during the third quarter worth $31,000. True Wealth Design LLC grew its stake in Zscaler by 18,500.0% during the 3rd quarter. True Wealth Design LLC now owns 186 shares of the company’s stock worth $32,000 after buying an additional 185 shares during the last quarter. Versant Capital Management Inc increased its position in Zscaler by 136.8% during the 4th quarter. Versant Capital Management Inc now owns 180 shares of the company’s stock valued at $32,000 after buying an additional 104 shares in the last quarter. Modus Advisors LLC purchased a new stake in Zscaler in the fourth quarter valued at about $36,000. Finally, Crews Bank & Trust acquired a new stake in Zscaler in the fourth quarter worth about $36,000. Institutional investors own 46.45% of the company’s stock.

Zscaler Stock Up 0.6 %

ZS stock opened at $205.53 on Friday. Zscaler, Inc. has a 52 week low of $153.45 and a 52 week high of $259.61. The firm has a 50-day simple moving average of $194.20 and a 200-day simple moving average of $188.27. The stock has a market capitalization of $31.54 billion, a P/E ratio of -822.12 and a beta of 0.89.

Zscaler (NASDAQ:ZS) last announced its earnings results on Monday, December 2nd. The company reported $0.77 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.14. The business had revenue of $628.00 million during the quarter, compared to analysts’ expectations of $605.51 million. Zscaler had a negative return on equity of 0.75% and a negative net margin of 1.58%. The business’s revenue was up 26.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.18) earnings per share. On average, analysts expect that Zscaler, Inc. will post -0.1 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Oppenheimer upped their price objective on shares of Zscaler from $230.00 to $250.00 and gave the company an “outperform” rating in a report on Tuesday, December 3rd. KeyCorp upped their price target on shares of Zscaler from $245.00 to $250.00 and gave the company an “overweight” rating in a research note on Tuesday, December 3rd. Stifel Nicolaus lifted their price objective on shares of Zscaler from $220.00 to $235.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Piper Sandler upped their target price on Zscaler from $215.00 to $235.00 and gave the company an “overweight” rating in a research report on Tuesday, December 3rd. Finally, Citigroup lifted their price target on Zscaler from $230.00 to $235.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Eleven investment analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $225.47.

Insider Buying and Selling at Zscaler

In related news, insider Syam Nair sold 3,682 shares of the stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $200.32, for a total value of $737,578.24. Following the completion of the sale, the insider now owns 142,866 shares of the company’s stock, valued at approximately $28,618,917.12. This trade represents a 2.51 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jagtar Singh Chaudhry sold 2,863 shares of the business’s stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $200.32, for a total value of $573,516.16. Following the transaction, the chief executive officer now directly owns 358,569 shares in the company, valued at $71,828,542.08. This trade represents a 0.79 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 10,248 shares of company stock worth $2,052,879. Corporate insiders own 18.10% of the company’s stock.

Zscaler Company Profile

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.