BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Sells 2,091 Shares of Zscaler, Inc. (NASDAQ:ZS)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp reduced its stake in Zscaler, Inc. (NASDAQ:ZS) by 12.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Champlain Investment Partners LLC boosted its stake 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 valued at $220,401,000 after purchasing an additional 283,540 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Zscaler by 5.3% during the second quarter. Bank of New York Mellon Corp now owns 496,047 shares of the company’s stock valued at $95,335,000 after purchasing an additional 25,181 shares in the last quarter. Westfield Capital Management Co. LP boosted its stake in shares of Zscaler by 33.8% during the third quarter. Westfield Capital Management Co. LP now owns 399,516 shares of the company’s stock valued at $68,293,000 after purchasing an additional 100,814 shares in the last quarter. Federated Hermes Inc. boosted its stake in shares of Zscaler by 18.3% during the second quarter. Federated Hermes Inc. now owns 394,698 shares of the company’s stock valued at $75,857,000 after purchasing an additional 61,037 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Zscaler by 4.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 355,070 shares of the company’s stock valued at $60,696,000 after purchasing an additional 16,634 shares in the last quarter. 46.45% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

ZS has been the topic of a number of recent research reports. Royal Bank of Canada reiterated an “outperform” rating and set a $230.00 price objective on shares of Zscaler in a research note on Tuesday. Cantor Fitzgerald raised shares of Zscaler to a “hold” rating in a research report on Monday, November 18th. Wedbush decreased their target price on shares of Zscaler from $260.00 to $220.00 and set an “outperform” rating for the company in a research report on Wednesday, September 4th. Scotiabank increased their target price on shares of Zscaler from $195.00 to $205.00 and gave the company a “sector outperform” rating in a research report on Tuesday. Finally, Guggenheim reissued a “neutral” rating on shares of Zscaler in a research report on Tuesday. Eleven research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $224.84.

Insider Activity at Zscaler

In other news, insider Robert Schlossman sold 4,947 shares of Zscaler stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $170.22, for a total value of $842,078.34. Following the sale, the insider now owns 107,241 shares in the company, valued at $18,254,563.02. This trade represents a 4.41 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Jagtar Singh Chaudhry sold 2,852 shares of Zscaler stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $171.28, for a total transaction of $488,490.56. Following the completion of the sale, the chief executive officer now owns 361,432 shares in the company, valued at approximately $61,906,072.96. This trade represents a 0.78 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 30,502 shares of company stock worth $5,256,651. 18.10% of the stock is owned by company insiders.

Zscaler Stock Performance

ZS stock opened at $206.36 on Thursday. The firm has a market cap of $31.66 billion, a PE ratio of -825.44 and a beta of 0.82. The firm’s fifty day moving average is $191.28 and its 200 day moving average is $185.15. Zscaler, Inc. has a one year low of $153.45 and a one year high of $259.61.

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