Prudential PLC Sells 644 Shares of Zscaler, Inc. (NASDAQ:ZS)

Prudential PLC lowered its position in shares of Zscaler, Inc. (NASDAQ:ZS) by 15.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,506 shares of the company’s stock after selling 644 shares during the quarter. Prudential PLC’s holdings in Zscaler were worth $674,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in ZS. 1832 Asset Management L.P. purchased a new position in shares of Zscaler in the 4th quarter worth about $217,683,000. Norges Bank purchased a new position in shares of Zscaler in the 4th quarter worth about $117,599,000. Quadrature Capital Ltd purchased a new position in shares of Zscaler in the 1st quarter worth about $47,217,000. Vanguard Group Inc. raised its position in shares of Zscaler by 2.4% in the 4th quarter. Vanguard Group Inc. now owns 8,843,772 shares of the company’s stock worth $1,959,426,000 after purchasing an additional 206,908 shares during the last quarter. Finally, Jupiter Asset Management Ltd. purchased a new position in shares of Zscaler in the 1st quarter worth about $27,954,000. Hedge funds and other institutional investors own 46.45% of the company’s stock.

Analyst Upgrades and Downgrades

ZS has been the subject of a number of recent analyst reports. Robert W. Baird decreased their target price on Zscaler from $260.00 to $225.00 and set an “outperform” rating for the company in a research report on Wednesday, September 4th. UBS Group decreased their target price on Zscaler from $270.00 to $250.00 and set a “buy” rating for the company in a research report on Wednesday, September 4th. Wedbush decreased their target price on Zscaler from $260.00 to $220.00 and set an “outperform” rating for the company in a research report on Wednesday, September 4th. Canaccord Genuity Group decreased their target price on Zscaler from $260.00 to $220.00 and set a “buy” rating for the company in a research report on Tuesday, June 4th. Finally, Bank of America lowered Zscaler from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $265.00 to $195.00 in a research report on Wednesday, September 4th. Nine equities research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Zscaler currently has a consensus rating of “Moderate Buy” and an average price target of $218.39.

Zscaler Stock Up 3.1 %

NASDAQ ZS opened at $166.71 on Friday. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.75 and a current ratio of 1.75. The company has a market capitalization of $25.20 billion, a P/E ratio of -326.88 and a beta of 0.82. Zscaler, Inc. has a one year low of $146.59 and a one year high of $259.61. The stock has a 50 day moving average price of $184.68 and a 200-day moving average price of $185.70.

Zscaler (NASDAQ:ZS) last issued its quarterly earnings results on Tuesday, September 3rd. The company reported $0.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.70 by $0.18. The company had revenue of $592.90 million during the quarter, compared to the consensus estimate of $567.46 million. Zscaler had a negative return on equity of 3.75% and a negative net margin of 2.66%. Zscaler’s revenue was up 30.3% on a year-over-year basis. During the same period last year, the company earned ($0.17) earnings per share. As a group, equities analysts predict that Zscaler, Inc. will post -0.92 EPS for the current fiscal year.

Insider Transactions at Zscaler

In other news, CFO Remo Canessa sold 7,981 shares of Zscaler stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $177.21, for a total transaction of $1,414,313.01. Following the completion of the sale, the chief financial officer now directly owns 243,486 shares in the company, valued at $43,148,154.06. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 19.20% of the company’s stock.

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.