CIBC Asset Management Inc Purchases 1,611 Shares of Zscaler, Inc. (NASDAQ:ZS)

CIBC Asset Management Inc lifted its holdings in shares of Zscaler, Inc. (NASDAQ:ZS) by 5.4% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 31,385 shares of the company’s stock after buying an additional 1,611 shares during the period. CIBC Asset Management Inc’s holdings in Zscaler were worth $5,662,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. KRS Capital Management LLC boosted its stake in shares of Zscaler by 1.9% during the 4th quarter. KRS Capital Management LLC now owns 3,261 shares of the company’s stock worth $588,000 after buying an additional 60 shares during the last quarter. GAMMA Investing LLC lifted its position in Zscaler by 18.5% during the fourth quarter. GAMMA Investing LLC now owns 448 shares of the company’s stock worth $81,000 after acquiring an additional 70 shares during the last quarter. Avior Wealth Management LLC lifted its position in Zscaler by 50.7% during the fourth quarter. Avior Wealth Management LLC now owns 214 shares of the company’s stock worth $39,000 after acquiring an additional 72 shares during the last quarter. Choreo LLC lifted its position in Zscaler by 2.6% during the fourth quarter. Choreo LLC now owns 2,833 shares of the company’s stock worth $517,000 after acquiring an additional 73 shares during the last quarter. Finally, Valley Brook Capital Group Inc. lifted its position in Zscaler by 4.0% during the third quarter. Valley Brook Capital Group Inc. now owns 1,972 shares of the company’s stock worth $337,000 after acquiring an additional 75 shares during the last quarter. 46.45% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. Canaccord Genuity Group raised their target price on shares of Zscaler from $220.00 to $230.00 and gave the stock a “buy” rating in a report on Tuesday, December 3rd. JMP Securities reissued a “market outperform” rating and issued a $240.00 price objective (down from $270.00) on shares of Zscaler in a research note on Tuesday, December 3rd. Royal Bank of Canada reaffirmed an “outperform” rating and set a $230.00 target price on shares of Zscaler in a research note on Tuesday, December 3rd. Morgan Stanley decreased their target price on shares of Zscaler from $215.00 to $205.00 and set an “equal weight” rating on the stock in a research note on Tuesday, December 3rd. Finally, Susquehanna lifted their price target on shares of Zscaler from $210.00 to $225.00 and gave the stock a “positive” rating in a report on Tuesday, December 3rd. Eleven investment analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $225.63.

Zscaler Stock Performance

Shares of ZS stock opened at $214.67 on Thursday. Zscaler, Inc. has a 52-week low of $153.45 and a 52-week high of $251.94. The company has a 50-day simple moving average of $195.36 and a two-hundred day simple moving average of $190.19. The company has a market capitalization of $32.94 billion, a price-to-earnings ratio of -858.68 and a beta of 0.89.

Zscaler (NASDAQ:ZS) last released its earnings results on Monday, December 2nd. The company reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.14. The firm had revenue of $628.00 million for 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 company’s quarterly revenue was up 26.4% on a year-over-year basis. During the same period in the previous year, the company earned ($0.18) earnings per share. On average, sell-side analysts forecast that Zscaler, Inc. will post -0.1 EPS for the current fiscal year.

Insider Buying and Selling at Zscaler

In related news, CFO Remo Canessa sold 3,703 shares of the company’s stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $200.32, for a total transaction of $741,784.96. Following the sale, the chief financial officer now directly owns 220,635 shares in the company, valued at approximately $44,197,603.20. This represents a 1.65 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Syam Nair sold 3,682 shares of the company’s stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $200.32, for a total transaction of $737,578.24. Following the sale, the insider now owns 142,866 shares in the company, valued at $28,618,917.12. The trade was a 2.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 10,248 shares of company stock worth $2,052,879 over the last three months. 18.10% of the stock is currently owned by insiders.

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.