Zscaler, Inc. (NASDAQ:ZS) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. cut its stake in Zscaler, Inc. (NASDAQ:ZS) by 1.0% in the third quarter, HoldingsChannel reports. The fund owned 7,902 shares of the company’s stock after selling 76 shares during the period. Principal Financial Group Inc.’s holdings in Zscaler were worth $1,351,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also bought and sold shares of the stock. Rhumbline Advisers increased its holdings in shares of Zscaler by 11.5% during the 2nd quarter. Rhumbline Advisers now owns 134,555 shares of the company’s stock valued at $25,860,000 after purchasing an additional 13,926 shares in the last quarter. Victory Capital Management Inc. grew its position in Zscaler by 9.2% during the second quarter. Victory Capital Management Inc. now owns 130,139 shares of the company’s stock valued at $25,011,000 after buying an additional 11,012 shares during the period. Arizona State Retirement System increased its holdings in Zscaler by 0.9% in the second quarter. Arizona State Retirement System now owns 24,699 shares of the company’s stock valued at $4,747,000 after buying an additional 220 shares in the last quarter. Private Advisor Group LLC raised its position in shares of Zscaler by 878.9% in the second quarter. Private Advisor Group LLC now owns 20,655 shares of the company’s stock worth $3,970,000 after acquiring an additional 18,545 shares during the period. Finally, North Star Asset Management Inc. boosted its stake in shares of Zscaler by 10.9% during the 2nd quarter. North Star Asset Management Inc. now owns 35,067 shares of the company’s stock worth $6,740,000 after acquiring an additional 3,459 shares in the last quarter. Hedge funds and other institutional investors own 46.45% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on ZS. Needham & Company LLC reaffirmed a “buy” rating and issued a $240.00 price target on shares of Zscaler in a report on Tuesday, December 3rd. Oppenheimer upped their target price on Zscaler from $230.00 to $250.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 3rd. JMP Securities reissued a “market outperform” rating and issued a $240.00 price target (down previously from $270.00) on shares of Zscaler in a research note on Tuesday, December 3rd. BMO Capital Markets upped their price objective on shares of Zscaler from $197.00 to $222.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 3rd. Finally, Citigroup increased their price objective on shares of Zscaler from $230.00 to $235.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Eleven research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $224.84.

Zscaler Stock Up 2.3 %

ZS stock opened at $185.84 on Friday. Zscaler, Inc. has a 52-week low of $153.45 and a 52-week high of $259.61. The stock has a market cap of $28.52 billion, a price-to-earnings ratio of -743.36 and a beta of 0.87. The business has a fifty day moving average of $196.66 and a two-hundred day moving average of $187.94.

Zscaler (NASDAQ:ZS) last issued its quarterly earnings data 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 return on equity of 0.75% and a negative net margin of 1.58%. The firm had revenue of $628.00 million during the quarter, compared to the consensus estimate of $605.51 million. During the same period last year, the company earned ($0.18) EPS. The company’s quarterly revenue was up 26.4% on a year-over-year basis. As a group, sell-side analysts anticipate that Zscaler, Inc. will post -0.24 EPS for the current year.

Insider Buying and Selling at Zscaler

In other news, CFO Remo Canessa sold 3,703 shares of the firm’s stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $200.32, for a total value of $741,784.96. Following the completion of the transaction, the chief financial officer now owns 220,635 shares of the company’s stock, valued at approximately $44,197,603.20. This trade represents a 1.65 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Jagtar Singh Chaudhry sold 2,863 shares of the company’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 sale, the chief executive officer now directly owns 358,569 shares in the company, valued at approximately $71,828,542.08. The trade was a 0.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 11,683 shares of company stock worth $2,313,619 over the last three months. 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.