BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Reduces Stock Position in Zscaler, Inc. (NASDAQ:ZS)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp reduced its position in shares of Zscaler, Inc. (NASDAQ:ZS) by 12.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 15,128 shares of the company’s stock after selling 2,091 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Zscaler were worth $2,586,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Champlain Investment Partners LLC boosted its holdings in shares of Zscaler by 28.2% during 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 during the period. Bank of New York Mellon Corp raised its stake in Zscaler by 5.3% in the second quarter. Bank of New York Mellon Corp now owns 496,047 shares of the company’s stock worth $95,335,000 after buying an additional 25,181 shares in the last quarter. Westfield Capital Management Co. LP raised 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 worth $68,293,000 after buying an additional 100,814 shares in the last quarter. Federated Hermes Inc. raised its stake in Zscaler by 18.3% in the second quarter. Federated Hermes Inc. now owns 394,698 shares of the company’s stock worth $75,857,000 after buying an additional 61,037 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in Zscaler by 4.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 355,070 shares of the company’s stock worth $60,696,000 after buying an additional 16,634 shares in the last quarter. 46.45% of the stock is currently owned by hedge funds and other institutional investors.

Zscaler Trading Up 3.9 %

Shares of NASDAQ ZS opened at $206.36 on Thursday. The firm’s 50-day moving average price is $191.28 and its 200-day moving average price is $185.15. The stock has a market capitalization of $31.66 billion, a price-to-earnings ratio of -825.44 and a beta of 0.82. Zscaler, Inc. has a 12-month low of $153.45 and a 12-month high of $259.61.

Zscaler (NASDAQ:ZS) last announced its earnings results on Monday, December 2nd. The company reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.14. The firm had revenue of $628.00 million for the quarter, compared to analysts’ expectations of $605.51 million. Zscaler had a negative net margin of 1.58% and a negative return on equity of 0.80%. The business’s revenue was up 26.4% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.18) EPS. On average, equities analysts predict that Zscaler, Inc. will post -0.95 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Guggenheim reissued a “neutral” rating on shares of Zscaler in a research note on Tuesday. BMO Capital Markets increased their price target on shares of Zscaler from $197.00 to $222.00 and gave the stock an “outperform” rating in a research note on Tuesday. Citigroup increased their price target on shares of Zscaler from $230.00 to $235.00 and gave the stock a “buy” rating in a research note on Wednesday. Deutsche Bank Aktiengesellschaft raised their target price on shares of Zscaler from $200.00 to $225.00 and gave the company a “buy” rating in a research note on Tuesday. Finally, Rosenblatt Securities reaffirmed a “neutral” rating and set a $190.00 target price on shares of Zscaler in a research note on Wednesday, September 4th. Eleven analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $224.84.

Insider Buying and Selling

In other Zscaler news, insider Michael J. Rich sold 4,813 shares of the company’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $171.28, for a total value of $824,370.64. Following the transaction, the insider now directly owns 103,259 shares in the company, valued at $17,686,201.52. This represents a 4.45 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Remo Canessa sold 8,455 shares of the company’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $171.28, for a total transaction of $1,448,172.40. Following the completion of the transaction, the chief financial officer now owns 231,793 shares in the company, valued at $39,701,505.04. This represents a 3.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 30,502 shares of company stock valued at $5,256,651 in the last ninety days. 18.10% of the stock is owned by company insiders.

Zscaler 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.