Nissay Asset Management Corp Japan Lowers Holdings in Zscaler, Inc. $ZS

Nissay Asset Management Corp Japan trimmed its holdings in Zscaler, Inc. (NASDAQ:ZS) by 62.6% in the 2nd quarter, HoldingsChannel reports. The firm owned 14,031 shares of the company’s stock after selling 23,506 shares during the quarter. Nissay Asset Management Corp Japan’s holdings in Zscaler were worth $1,980,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in ZS. Integrated Wealth Concepts LLC raised its position in shares of Zscaler by 19.9% during the first quarter. Integrated Wealth Concepts LLC now owns 1,439 shares of the company’s stock valued at $285,000 after buying an additional 239 shares during the last quarter. NewEdge Advisors LLC boosted its position in shares of Zscaler by 8.2% during the first quarter. NewEdge Advisors LLC now owns 4,899 shares of the company’s stock worth $972,000 after acquiring an additional 370 shares during the last quarter. Empowered Funds LLC boosted its position in shares of Zscaler by 9.2% during the first quarter. Empowered Funds LLC now owns 2,811 shares of the company’s stock worth $558,000 after acquiring an additional 238 shares during the last quarter. Sivia Capital Partners LLC purchased a new position in Zscaler during the second quarter valued at $252,000. Finally, Jump Financial LLC purchased a new position in Zscaler during the second quarter valued at $3,019,000. 46.45% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have commented on the stock. UBS Group decreased their price target on shares of Zscaler from $260.00 to $225.00 and set a “buy” rating on the stock in a research note on Wednesday, May 27th. Rosenblatt Securities restated a “buy” rating and set a $200.00 price objective on shares of Zscaler in a research report on Wednesday, June 10th. Evercore set a $155.00 target price on Zscaler and gave the stock an “in-line” rating in a report on Wednesday, May 27th. Truist Financial set a $210.00 target price on Zscaler in a research report on Wednesday, May 27th. Finally, Robert W. Baird dropped their price target on Zscaler from $265.00 to $230.00 and set an “outperform” rating for the company in a research note on Wednesday, May 27th. Thirty-four investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $216.18.

Zscaler Price Performance

ZS stock opened at $178.37 on Wednesday. Zscaler, Inc. has a 52 week low of $114.63 and a 52 week high of $336.99. The firm has a market capitalization of $28.84 billion, a P/E ratio of -371.60, a price-to-earnings-growth ratio of 110.88 and a beta of 0.94. The company has a fifty day simple moving average of $158.52 and a two-hundred day simple moving average of $150.38. The company has a quick ratio of 1.86, a current ratio of 1.86 and a debt-to-equity ratio of 0.72.

Insider Buying and Selling at Zscaler

In related news, insider Robert Schlossman sold 3,146 shares of the stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $126.43, for a total value of $397,748.78. Following the completion of the transaction, the insider owned 69,366 shares of the company’s stock, valued at approximately $8,769,943.38. This trade represents a 4.34% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Adam Geller sold 2,817 shares of Zscaler stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $122.60, for a total value of $345,364.20. Following the completion of the transaction, the insider owned 42,314 shares of the company’s stock, valued at approximately $5,187,696.40. This represents a 6.24% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 16,772 shares of company stock valued at $2,139,799 over the last quarter. 17.20% of the stock is owned by corporate insiders.

About Zscaler

Zscaler is a cloud security company that delivers a cloud-native platform to protect users, applications and data as organizations move away from traditional, network-centric security architectures. The company focuses on a zero trust approach that assumes no implicit trust for users or devices, providing secure access to the internet, SaaS applications and private applications regardless of where users are located. Zscaler positions its services as an alternative to legacy appliances and site-centric VPNs, aiming to simplify security while enabling modern, distributed workforces.

Key offerings are built around the Zscaler Zero Trust Exchange, a multi-tenant cloud platform that enforces security and access policies in-line.