Dai ichi Life Insurance Company Ltd Trims Position in Zscaler, Inc. (NASDAQ:ZS)

Dai ichi Life Insurance Company Ltd lowered its stake in Zscaler, Inc. (NASDAQ:ZS) by 46.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,853 shares of the company’s stock after selling 5,000 shares during the period. Dai ichi Life Insurance Company Ltd’s holdings in Zscaler were worth $1,001,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Advisors Asset Management Inc. boosted its position in shares of Zscaler by 59.8% during the first quarter. Advisors Asset Management Inc. now owns 2,229 shares of the company’s stock valued at $429,000 after purchasing an additional 834 shares in the last quarter. Janus Henderson Group PLC lifted its holdings in shares of Zscaler by 11.8% during the first quarter. Janus Henderson Group PLC now owns 9,121 shares of the company’s stock valued at $1,757,000 after purchasing an additional 963 shares during the last quarter. B. Riley Wealth Advisors Inc. raised its stake in Zscaler by 3.0% during the first quarter. B. Riley Wealth Advisors Inc. now owns 3,761 shares of the company’s stock valued at $724,000 after buying an additional 111 shares during the last quarter. Tidal Investments LLC grew its stake in shares of Zscaler by 7.4% in the first quarter. Tidal Investments LLC now owns 4,938 shares of the company’s stock worth $951,000 after acquiring an additional 341 shares during the last quarter. Finally, Plato Investment Management Ltd increased its holdings in shares of Zscaler by 1,176.3% during the first quarter. Plato Investment Management Ltd now owns 4,365 shares of the company’s stock valued at $841,000 after acquiring an additional 4,023 shares in the last quarter. 46.45% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently commented on the stock. Needham & Company LLC cut their price objective on shares of Zscaler from $290.00 to $235.00 and set a “strong-buy” rating on the stock in a research report on Wednesday, September 4th. Susquehanna reissued a “positive” rating and set a $210.00 price target on shares of Zscaler in a research report on Thursday, September 5th. JPMorgan Chase & Co. lowered their price objective on Zscaler from $230.00 to $220.00 and set an “overweight” rating on the stock in a research report on Wednesday, September 4th. BMO Capital Markets cut their price objective on Zscaler from $208.00 to $197.00 and set an “outperform” rating for the company in a report on Wednesday, September 4th. Finally, UBS Group dropped their target price on Zscaler from $270.00 to $250.00 and set a “buy” rating on the stock in a research report on Wednesday, September 4th. Ten investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $220.29.

Insiders Place Their Bets

In other Zscaler news, CEO Jagtar Singh Chaudhry sold 2,852 shares of the company’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $171.28, for a total value of $488,490.56. Following the transaction, the chief executive officer now directly owns 361,432 shares in the company, valued at $61,906,072.96. This represents a 0.78 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Robert Schlossman sold 1,435 shares of Zscaler stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $181.70, for a total transaction of $260,739.50. Following the sale, the insider now directly owns 105,806 shares of the company’s stock, valued at $19,224,950.20. This represents a 1.34 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 30,502 shares of company stock valued at $5,256,651 over the last 90 days. Insiders own 19.20% of the company’s stock.

Zscaler Stock Down 2.5 %

Zscaler stock opened at $204.96 on Thursday. Zscaler, Inc. has a 52-week low of $153.45 and a 52-week high of $259.61. The firm’s fifty day moving average is $188.06 and its 200 day moving average is $184.21.

Zscaler (NASDAQ:ZS) last announced its quarterly earnings results on Tuesday, September 3rd. The company reported ($0.05) EPS for the quarter, beating 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 firm had revenue of $592.90 million during the quarter, compared to the consensus estimate of $567.46 million. During the same quarter last year, the firm earned ($0.17) EPS. The firm’s revenue for the quarter was up 30.3% compared to the same quarter last year. Equities research analysts expect that Zscaler, Inc. will post -0.95 EPS for the current fiscal 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.