Sumitomo Mitsui Trust Group Inc. Has $40.53 Million Position in Zscaler, Inc. (NASDAQ:ZS)

Sumitomo Mitsui Trust Group Inc. grew its holdings in Zscaler, Inc. (NASDAQ:ZS) by 3.0% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 224,648 shares of the company’s stock after buying an additional 6,532 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Zscaler were worth $40,529,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the business. Prestige Wealth Management Group LLC acquired a new position in shares of Zscaler during the third quarter valued at $31,000. True Wealth Design LLC raised its holdings 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 purchasing an additional 185 shares during the last quarter. Versant Capital Management Inc lifted 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 purchasing an additional 104 shares during the period. Modus Advisors LLC bought a new position in shares of Zscaler in the 4th quarter valued at about $36,000. Finally, Crews Bank & Trust acquired a new stake in shares of Zscaler during the 4th quarter worth approximately $36,000. 46.45% of the stock is owned by institutional investors.

Zscaler Trading Up 3.4 %

ZS opened at $212.53 on Tuesday. The stock’s fifty day simple moving average is $194.28 and its 200 day simple moving average is $188.51. Zscaler, Inc. has a 1-year low of $153.45 and a 1-year high of $256.42. The stock has a market cap of $32.61 billion, a PE ratio of -850.12 and a beta of 0.89.

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

Insider Activity

In other Zscaler news, insider Syam Nair sold 3,682 shares of the business’s stock in a transaction dated Tuesday, December 17th. The shares were 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 $28,618,917.12. The trade was a 2.51 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Jagtar Singh Chaudhry sold 2,863 shares of the firm’s stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $200.32, for a total transaction 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 represents a 0.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 10,248 shares of company stock valued at $2,052,879. 18.10% of the stock is owned by insiders.

Analyst Ratings Changes

ZS has been the topic of several analyst reports. Canaccord Genuity Group increased their price objective on shares of Zscaler from $220.00 to $230.00 and gave the company a “buy” rating in a report on Tuesday, December 3rd. Cantor Fitzgerald raised Zscaler to a “hold” rating in a research note on Monday, November 18th. JMP Securities reaffirmed a “market outperform” rating and set a $240.00 price objective (down from $270.00) on shares of Zscaler in a research note on Tuesday, December 3rd. Barclays increased their target price on Zscaler from $200.00 to $220.00 and gave the company an “overweight” rating in a research note on Thursday, November 21st. Finally, JPMorgan Chase & Co. boosted their target price on Zscaler from $220.00 to $240.00 and gave the stock an “overweight” rating in a research report on Friday, November 29th. Eleven investment analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $225.47.

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.