Zscaler, Inc. (NASDAQ:ZS) Shares Sold by Gulf International Bank UK Ltd

Gulf International Bank UK Ltd lowered its holdings in shares of Zscaler, Inc. (NASDAQ:ZS) by 1.0% in the fourth quarter, HoldingsChannel.com reports. The fund owned 6,857 shares of the company’s stock after selling 67 shares during the quarter. Gulf International Bank UK Ltd’s holdings in Zscaler were worth $1,237,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Global X Japan Co. Ltd. raised its position in shares of Zscaler by 127.4% in the fourth quarter. Global X Japan Co. Ltd. now owns 141 shares of the company’s stock valued at $25,000 after buying an additional 79 shares during the last quarter. Stonebridge Financial Group LLC acquired a new position in shares of Zscaler in the fourth quarter valued at approximately $29,000. Prestige Wealth Management Group LLC acquired a new position in shares of Zscaler in the third quarter valued at approximately $31,000. Versant Capital Management Inc raised its position in shares of Zscaler by 136.8% in the fourth quarter. Versant Capital Management Inc now owns 180 shares of the company’s stock valued at $32,000 after buying an additional 104 shares during the last quarter. Finally, True Wealth Design LLC raised its position in shares of Zscaler by 18,500.0% in the third quarter. True Wealth Design LLC now owns 186 shares of the company’s stock valued at $32,000 after buying an additional 185 shares during the last quarter. Institutional investors and hedge funds own 46.45% of the company’s stock.

Wall Street Analysts Forecast Growth

ZS has been the subject of a number of recent analyst reports. Jefferies Financial Group boosted their target price on shares of Zscaler from $225.00 to $245.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Stifel Nicolaus boosted their target price on shares of Zscaler from $220.00 to $235.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Scotiabank boosted their target price on shares of Zscaler from $205.00 to $225.00 and gave the company a “sector outperform” rating in a report on Tuesday, January 21st. BMO Capital Markets boosted their target price on shares of Zscaler from $197.00 to $222.00 and gave the company an “outperform” rating in a report on Tuesday, December 3rd. Finally, Morgan Stanley lowered their target price on shares of Zscaler from $215.00 to $205.00 and set an “equal weight” rating for the company in a report on Tuesday, December 3rd. Eleven equities research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company’s stock. According to data from MarketBeat, Zscaler currently has a consensus rating of “Moderate Buy” and a consensus price target of $226.56.

Zscaler Price Performance

ZS opened at $196.23 on Friday. The stock has a market capitalization of $30.11 billion, a PE ratio of -784.92 and a beta of 0.89. The firm’s fifty day moving average price is $195.64 and its 200 day moving average price is $191.49. Zscaler, Inc. has a 12-month low of $153.45 and a 12-month high of $243.94.

Zscaler (NASDAQ:ZS) last posted its quarterly 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 0.75%. The firm’s quarterly revenue was up 26.4% on a year-over-year basis. During the same period in the prior year, the company posted ($0.18) earnings per share. On average, equities research analysts forecast that Zscaler, Inc. will post -0.1 earnings per share for the current fiscal year.

Insider Activity at Zscaler

In other Zscaler news, insider Syam Nair sold 3,682 shares of the stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $200.32, for a total transaction of $737,578.24. Following the sale, the insider now directly owns 142,866 shares of the company’s stock, valued at approximately $28,618,917.12. This represents a 2.51 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Remo Canessa sold 3,703 shares of the stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $200.32, for a total transaction of $741,784.96. Following the sale, the chief financial officer now directly owns 220,635 shares in the company, valued at $44,197,603.20. This trade represents a 1.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 10,248 shares of company stock valued at $2,052,879 over the last ninety days. Corporate insiders own 18.10% of the company’s stock.

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.