Healthcare of Ontario Pension Plan Trust Fund Reduces Position in Zscaler, Inc. (NASDAQ:ZS)

Healthcare of Ontario Pension Plan Trust Fund decreased its holdings in shares of Zscaler, Inc. (NASDAQ:ZS) by 28.2% during the third quarter, HoldingsChannel reports. The institutional investor owned 9,871 shares of the company’s stock after selling 3,885 shares during the period. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Zscaler were worth $1,687,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. DekaBank Deutsche Girozentrale lifted its position in shares of Zscaler by 7.1% during the third quarter. DekaBank Deutsche Girozentrale now owns 221,212 shares of the company’s stock worth $37,495,000 after purchasing an additional 14,701 shares during the last quarter. Creative Planning increased its stake in Zscaler by 7.6% in the 3rd quarter. Creative Planning now owns 148,534 shares of the company’s stock worth $25,390,000 after buying an additional 10,551 shares during the period. Massachusetts Financial Services Co. MA bought a new stake in Zscaler during the 2nd quarter valued at about $25,287,000. Strategic Advisors LLC boosted its position in Zscaler by 470.0% in the 3rd quarter. Strategic Advisors LLC now owns 8,140 shares of the company’s stock valued at $1,391,000 after buying an additional 6,712 shares during the period. Finally, Van ECK Associates Corp grew its stake in Zscaler by 1,786.5% in the 3rd quarter. Van ECK Associates Corp now owns 15,073 shares of the company’s stock worth $2,728,000 after acquiring an additional 14,274 shares in the last quarter. 46.45% of the stock is owned by institutional investors.

Zscaler Stock Performance

Shares of ZS opened at $206.59 on Monday. The stock has a 50-day moving average of $190.12 and a two-hundred day moving average of $184.78. The stock has a market cap of $31.70 billion, a P/E ratio of -516.46 and a beta of 0.82. Zscaler, Inc. has a one year low of $153.45 and a one year high of $259.61.

Zscaler (NASDAQ:ZS) last released its earnings results on Tuesday, September 3rd. The company reported ($0.05) EPS for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.09. Zscaler had a negative return on equity of 3.46% and a negative net margin of 2.66%. The firm had revenue of $592.90 million during the quarter, compared to the consensus estimate of $567.46 million. During the same quarter in the previous year, the company posted ($0.17) earnings per share. The company’s revenue was up 30.3% compared to the same quarter last year. Analysts predict that Zscaler, Inc. will post -0.95 EPS for the current fiscal year.

Insider Activity

In related news, insider Michael J. Rich sold 4,813 shares of the business’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $171.28, for a total value of $824,370.64. Following the completion of the transaction, the insider now directly owns 103,259 shares in the company, valued at $17,686,201.52. The trade was a 4.45 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Remo Canessa sold 8,455 shares of the stock in a transaction dated Tuesday, September 17th. The stock was 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 directly owns 231,793 shares in the company, valued at approximately $39,701,505.04. The trade was a 3.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 30,502 shares of company stock valued at $5,256,651 in the last ninety days. Insiders own 19.20% of the company’s stock.

Wall Street Analyst Weigh In

ZS has been the subject of several research analyst reports. KeyCorp boosted their price target on Zscaler from $220.00 to $245.00 and gave the company an “overweight” rating in a report on Friday, November 22nd. Scotiabank lowered their target price on Zscaler from $210.00 to $195.00 and set a “sector outperform” rating for the company in a report on Wednesday, September 4th. Wells Fargo & Company cut their price target on Zscaler from $182.00 to $180.00 and set an “equal weight” rating on the stock in a research note on Wednesday, September 4th. Robert W. Baird dropped their price objective on shares of Zscaler from $260.00 to $225.00 and set an “outperform” rating on the stock in a research note on Wednesday, September 4th. Finally, Stifel Nicolaus upped their target price on Zscaler from $220.00 to $235.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Ten equities research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Zscaler currently has an average rating of “Moderate Buy” and a consensus price target of $221.13.

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.