Dai ichi Life Insurance Company Ltd Sells 5,000 Shares of Zscaler, Inc. (NASDAQ:ZS)

Dai ichi Life Insurance Company Ltd lowered its holdings in Zscaler, Inc. (NASDAQ:ZS) by 46.1% in the 3rd quarter, HoldingsChannel reports. The firm owned 5,853 shares of the company’s stock after selling 5,000 shares during the quarter. Dai ichi Life Insurance Company Ltd’s holdings in Zscaler were worth $1,001,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. Champlain Investment Partners LLC raised its holdings in Zscaler by 28.2% in the third quarter. Champlain Investment Partners LLC now owns 1,289,350 shares of the company’s stock worth $220,401,000 after purchasing an additional 283,540 shares in the last quarter. International Assets Investment Management LLC grew its position in shares of Zscaler by 13,498.6% in the 3rd quarter. International Assets Investment Management LLC now owns 285,299 shares of the company’s stock worth $48,769,000 after buying an additional 283,201 shares during the last quarter. GuoLine Advisory Pte Ltd bought a new position in shares of Zscaler during the 3rd quarter worth approximately $32,660,000. Massachusetts Financial Services Co. MA purchased a new stake in Zscaler during the second quarter valued at approximately $25,287,000. Finally, Westfield Capital Management Co. LP boosted its stake in Zscaler by 33.8% in the third quarter. Westfield Capital Management Co. LP now owns 399,516 shares of the company’s stock valued at $68,293,000 after acquiring an additional 100,814 shares in the last quarter. Hedge funds and other institutional investors own 46.45% of the company’s stock.

Insider Activity at Zscaler

In other Zscaler news, CEO Jagtar Singh Chaudhry sold 2,852 shares of the company’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $171.28, for a total value of $488,490.56. Following the completion of the sale, the chief executive officer now directly owns 361,432 shares in the company, valued at $61,906,072.96. This represents a 0.78 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Robert Schlossman sold 1,435 shares of Zscaler stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $181.70, for a total value of $260,739.50. Following the transaction, the insider now owns 105,806 shares in the company, valued at approximately $19,224,950.20. This represents a 1.34 % 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. Corporate insiders own 19.20% of the company’s stock.

Wall Street Analyst Weigh In

ZS has been the topic of a number of recent analyst reports. Wedbush reduced their price target on Zscaler from $260.00 to $220.00 and set an “outperform” rating on the stock in a research report on Wednesday, September 4th. BTIG Research upped their target price on Zscaler from $205.00 to $238.00 and gave the company a “buy” rating in a research report on Wednesday. Piper Sandler lowered their price target on Zscaler from $255.00 to $215.00 and set an “overweight” rating for the company in a report on Wednesday, September 4th. JMP Securities restated a “market outperform” rating and set a $270.00 price target on shares of Zscaler in a research note on Monday, November 4th. Finally, Stifel Nicolaus increased their price objective on shares of Zscaler from $220.00 to $235.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Ten investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $220.29.

Zscaler Stock Performance

NASDAQ ZS opened at $204.96 on Thursday. The stock’s 50 day simple moving average is $188.06 and its 200-day simple moving average is $184.21. Zscaler, Inc. has a 1-year low of $153.45 and a 1-year high of $259.61.

Zscaler (NASDAQ:ZS) last announced its quarterly earnings data on Tuesday, September 3rd. The company reported ($0.05) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.09. Zscaler had a negative return on equity of 3.46% and a negative net margin of 2.66%. The company had revenue of $592.90 million for the quarter, compared to analyst estimates of $567.46 million. During the same quarter last year, the firm posted ($0.17) EPS. The firm’s revenue for the quarter was up 30.3% on a year-over-year basis. As a group, sell-side analysts forecast that Zscaler, Inc. will post -0.95 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.