Assenagon Asset Management S.A. Sells 18,809 Shares of Zscaler, Inc. (NASDAQ:ZS)

Assenagon Asset Management S.A. reduced its stake in Zscaler, Inc. (NASDAQ:ZS) by 13.6% in the third quarter, Holdings Channel.com reports. The fund owned 119,497 shares of the company’s stock after selling 18,809 shares during the period. Assenagon Asset Management S.A.’s holdings in Zscaler were worth $20,427,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in Zscaler by 1.3% during the 1st quarter. Vanguard Group Inc. now owns 8,961,774 shares of the company’s stock worth $1,726,307,000 after purchasing an additional 118,002 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Zscaler by 19.9% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 619,293 shares of the company’s stock worth $119,294,000 after buying an additional 102,616 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of Zscaler by 5.3% in 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 acquiring an additional 25,181 shares during the period. Federated Hermes Inc. grew its stake in 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 acquiring an additional 61,037 shares in the last quarter. Finally, Acadian Asset Management LLC increased its holdings in Zscaler by 0.9% during the 1st quarter. Acadian Asset Management LLC now owns 336,197 shares of the company’s stock worth $64,744,000 after acquiring an additional 2,937 shares during the period. 46.45% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Loop Capital cut their price target on shares of Zscaler from $180.00 to $165.00 and set a “hold” rating for the company in a report on Wednesday, September 4th. Bank of America lowered Zscaler from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $265.00 to $195.00 in a research note on Wednesday, September 4th. JMP Securities restated a “market outperform” rating and set a $270.00 target price on shares of Zscaler in a research report on Wednesday, September 4th. Robert W. Baird lowered their price target on Zscaler from $260.00 to $225.00 and set an “outperform” rating on the stock in a report on Wednesday, September 4th. Finally, Raymond James began coverage on Zscaler in a report on Tuesday, July 23rd. They set a “market perform” rating for the company. Ten research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Zscaler presently has an average rating of “Moderate Buy” and a consensus price target of $216.73.

Insider Activity

In other news, CEO Jagtar Singh Chaudhry sold 2,852 shares of Zscaler 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 $488,490.56. Following the completion of the sale, the chief executive officer now directly owns 361,432 shares in the company, valued at $61,906,072.96. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, insider Robert Schlossman sold 4,947 shares of the stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $170.22, for a total value of $842,078.34. Following the transaction, the insider now owns 107,241 shares in the company, valued at $18,254,563.02. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Jagtar Singh Chaudhry sold 2,852 shares of the firm’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $171.28, for a total transaction of $488,490.56. Following the completion of the transaction, the chief executive officer now directly owns 361,432 shares in the company, valued at approximately $61,906,072.96. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 30,502 shares of company stock valued at $5,256,651 over the last ninety days. 19.20% of the stock is currently owned by corporate insiders.

Zscaler Stock Performance

NASDAQ:ZS opened at $184.96 on Friday. The firm has a market cap of $27.96 billion, a P/E ratio of -362.67 and a beta of 0.82. Zscaler, Inc. has a fifty-two week low of $152.60 and a fifty-two week high of $259.61. The firm has a 50-day simple moving average of $180.90 and a two-hundred day simple moving average of $180.76.

Zscaler (NASDAQ:ZS) last announced its quarterly earnings data on Tuesday, September 3rd. The company reported ($0.05) earnings per share for the quarter, topping analysts’ consensus estimates 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 company had revenue of $592.90 million during the quarter, compared to analyst estimates of $567.46 million. During the same period in the previous year, the business earned ($0.17) EPS. The firm’s revenue for the quarter was up 30.3% on a year-over-year basis. On average, equities research analysts predict that Zscaler, Inc. will post -0.95 EPS for the current year.

Zscaler Company 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.