Nordea Investment Management AB Sells 105,885 Shares of Zscaler, Inc. (NASDAQ:ZS)

Nordea Investment Management AB lessened its holdings in Zscaler, Inc. (NASDAQ:ZS) by 57.0% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 79,755 shares of the company’s stock after selling 105,885 shares during the period. Nordea Investment Management AB owned approximately 0.05% of Zscaler worth $14,516,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of ZS. Champlain Investment Partners LLC boosted its position in Zscaler by 28.2% in the third quarter. Champlain Investment Partners LLC now owns 1,289,350 shares of the company’s stock worth $220,401,000 after purchasing an additional 283,540 shares during the last quarter. International Assets Investment Management LLC boosted its holdings in shares of Zscaler by 13,498.6% in the 3rd quarter. International Assets Investment Management LLC now owns 285,299 shares of the company’s stock worth $48,769,000 after buying an additional 283,201 shares during the last quarter. GuoLine Advisory Pte Ltd bought a new position in Zscaler during the third quarter valued at about $32,660,000. Massachusetts Financial Services Co. MA purchased a new stake in Zscaler during the second quarter worth about $25,287,000. Finally, Westfield Capital Management Co. LP raised its position in Zscaler by 33.8% in the third quarter. Westfield Capital Management Co. LP now owns 399,516 shares of the company’s stock worth $68,293,000 after acquiring an additional 100,814 shares during the period. 46.45% of the stock is owned by institutional investors.

Insider Transactions at Zscaler

In other Zscaler news, CEO Jagtar Singh Chaudhry sold 2,863 shares of the firm’s stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $200.32, for a total value of $573,516.16. Following the sale, the chief executive officer now owns 358,569 shares of the company’s stock, valued at $71,828,542.08. This trade represents a 0.79 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Syam Nair sold 3,682 shares of the company’s stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $200.32, for a total transaction of $737,578.24. Following the transaction, the insider now directly owns 142,866 shares of the company’s stock, valued at approximately $28,618,917.12. This trade represents a 2.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 10,248 shares of company stock worth $2,052,879. Company insiders own 18.10% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on ZS. Stifel Nicolaus raised their price target on shares of Zscaler from $220.00 to $235.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. BNP Paribas initiated coverage on Zscaler in a research report on Tuesday, October 8th. They issued a “neutral” rating and a $180.00 target price for the company. BMO Capital Markets upped their price target on Zscaler from $197.00 to $222.00 and gave the company an “outperform” rating in a research report on Tuesday, December 3rd. Scotiabank lifted their price objective on Zscaler from $195.00 to $205.00 and gave the stock a “sector outperform” rating in a report on Tuesday, December 3rd. Finally, Citigroup boosted their price objective on Zscaler from $230.00 to $235.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Eleven analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company. According to MarketBeat, Zscaler currently has a consensus rating of “Moderate Buy” and a consensus price target of $224.84.

Zscaler Price Performance

Shares of ZS opened at $187.28 on Thursday. Zscaler, Inc. has a 1 year low of $153.45 and a 1 year high of $259.61. The stock has a 50 day simple moving average of $196.59 and a two-hundred day simple moving average of $188.10. The firm has a market cap of $28.74 billion, a P/E ratio of -749.12 and a beta of 0.87.

Zscaler (NASDAQ:ZS) last announced its quarterly earnings data on Monday, December 2nd. The company reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.14. The company had revenue of $628.00 million during 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 revenue was up 26.4% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.18) EPS. On average, equities analysts anticipate that Zscaler, Inc. will post -0.24 earnings per share for the current year.

Zscaler 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.