BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Acquires 6,593 Shares of Zscaler, Inc. (NASDAQ:ZS)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its stake in Zscaler, Inc. (NASDAQ:ZS) by 62.0% during the second quarter, HoldingsChannel.com reports. The firm owned 17,219 shares of the company’s stock after purchasing an additional 6,593 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Zscaler were worth $3,309,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Dimensional Fund Advisors LP grew its position in Zscaler by 3.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 145,455 shares of the company’s stock valued at $32,230,000 after purchasing an additional 4,257 shares during the last quarter. Corient Private Wealth LLC increased its position in shares of Zscaler by 26.8% during the fourth quarter. Corient Private Wealth LLC now owns 9,123 shares of the company’s stock valued at $2,021,000 after acquiring an additional 1,928 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its holdings in Zscaler by 64.9% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 19,855 shares of the company’s stock worth $4,399,000 after acquiring an additional 7,817 shares during the last quarter. Steward Partners Investment Advisory LLC lifted its position in Zscaler by 132.2% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 2,715 shares of the company’s stock valued at $602,000 after acquiring an additional 1,546 shares in the last quarter. Finally, Stifel Financial Corp boosted its stake in Zscaler by 41.7% during the 4th quarter. Stifel Financial Corp now owns 82,020 shares of the company’s stock valued at $18,172,000 after purchasing an additional 24,132 shares during the last quarter. Hedge funds and other institutional investors own 46.45% of the company’s stock.

Insiders Place Their Bets

In related news, CFO Remo Canessa sold 8,455 shares of the company’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $171.28, for a total transaction of $1,448,172.40. Following the sale, the chief financial officer now owns 231,793 shares of the company’s stock, valued at $39,701,505.04. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, Director Andrew William Fraser Brown sold 8,000 shares of Zscaler stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $174.10, for a total value of $1,392,800.00. Following the completion of the transaction, the director now owns 25,907 shares in the company, valued at approximately $4,510,408.70. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Remo Canessa sold 8,455 shares of the business’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $171.28, for a total value of $1,448,172.40. Following the transaction, the chief financial officer now directly owns 231,793 shares in the company, valued at approximately $39,701,505.04. The disclosure for this sale can be found here. Insiders have sold a total of 24,120 shares of company stock valued at $4,153,834 in the last quarter. 19.20% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Mizuho cut shares of Zscaler from an “outperform” rating to a “neutral” rating and set a $220.00 price objective for the company. in a report on Tuesday, July 16th. Loop Capital reduced their price objective on Zscaler from $180.00 to $165.00 and set a “hold” rating for the company in a research report on Wednesday, September 4th. Stifel Nicolaus reissued a “buy” rating and issued a $220.00 target price on shares of Zscaler in a research report on Wednesday, September 4th. Citigroup reduced their price target on shares of Zscaler from $270.00 to $240.00 and set a “buy” rating for the company in a research report on Wednesday, June 5th. Finally, Wedbush dropped their price objective on shares of Zscaler from $260.00 to $220.00 and set an “outperform” rating on the stock in a report on Wednesday, September 4th. Nine analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Zscaler currently has an average rating of “Moderate Buy” and an average price target of $218.39.

Zscaler Stock Performance

ZS stock opened at $171.77 on Friday. The company’s fifty day moving average price is $178.92 and its 200-day moving average price is $182.11. Zscaler, Inc. has a one year low of $146.71 and a one year high of $259.61. The company has a market capitalization of $25.96 billion, a PE ratio of -336.80 and a beta of 0.82.

Zscaler (NASDAQ:ZS) last released its quarterly earnings data on Tuesday, September 3rd. The company reported ($0.05) EPS for the quarter, beating the consensus estimate of ($0.14) by $0.09. Zscaler had a negative net margin of 2.66% and a negative return on equity of 3.46%. The business had revenue of $592.90 million during the quarter, compared to the consensus estimate of $567.46 million. During the same quarter in the prior year, the firm earned ($0.17) EPS. The business’s revenue was up 30.3% on a year-over-year basis. On average, research analysts predict that Zscaler, Inc. will post -0.92 EPS 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.