CIBC Asset Management Inc Has $5.09 Million Holdings in Zscaler, Inc. (NASDAQ:ZS)

CIBC Asset Management Inc raised its holdings in shares of Zscaler, Inc. (NASDAQ:ZS) by 4.7% in the third quarter, Holdings Channel reports. The institutional investor owned 29,774 shares of the company’s stock after buying an additional 1,323 shares during the quarter. CIBC Asset Management Inc’s holdings in Zscaler were worth $5,090,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of ZS. DekaBank Deutsche Girozentrale raised its stake in shares of Zscaler by 7.1% in the third quarter. DekaBank Deutsche Girozentrale now owns 221,212 shares of the company’s stock valued at $37,495,000 after purchasing an additional 14,701 shares in the last quarter. Creative Planning raised its stake in shares of Zscaler by 7.6% in the third quarter. Creative Planning now owns 148,534 shares of the company’s stock valued at $25,390,000 after purchasing an additional 10,551 shares in the last quarter. Massachusetts Financial Services Co. MA acquired a new position in shares of Zscaler in the second quarter valued at $25,287,000. Strategic Advisors LLC raised its stake in shares of Zscaler by 470.0% in the third quarter. Strategic Advisors LLC now owns 8,140 shares of the company’s stock valued at $1,391,000 after purchasing an additional 6,712 shares in the last quarter. Finally, Van ECK Associates Corp raised its stake in shares of Zscaler by 1,786.5% in the third quarter. Van ECK Associates Corp now owns 15,073 shares of the company’s stock valued at $2,728,000 after purchasing an additional 14,274 shares in the last quarter. 46.45% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Raymond James assumed coverage on Zscaler in a research report on Tuesday, July 23rd. They issued a “market perform” rating on the stock. Needham & Company LLC lowered their price target on Zscaler from $290.00 to $235.00 and set a “strong-buy” rating on the stock in a research report on Wednesday, September 4th. Barclays lowered their price target on Zscaler from $230.00 to $200.00 and set an “overweight” rating on the stock in a research report on Wednesday, September 4th. Wedbush lowered their price target on Zscaler from $260.00 to $220.00 and set an “outperform” rating on the stock in a research report on Wednesday, September 4th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $270.00 price target on shares of Zscaler in a research report on Monday, November 4th. Ten analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $217.18.

Insider Transactions at Zscaler

In related news, Director Andrew William Fraser Brown sold 8,000 shares of Zscaler stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $174.10, for a total value of $1,392,800.00. Following the sale, the director now owns 25,907 shares of the company’s stock, valued at approximately $4,510,408.70. This trade represents a 23.59 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Robert Schlossman sold 4,947 shares of Zscaler stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $170.22, for a total value of $842,078.34. Following the completion of the sale, the insider now directly owns 107,241 shares in the company, valued at approximately $18,254,563.02. This represents a 4.41 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 30,502 shares of company stock valued at $5,256,651 over the last 90 days. 19.20% of the stock is owned by company insiders.

Zscaler Price Performance

NASDAQ ZS opened at $201.47 on Monday. The firm has a market cap of $30.72 billion, a P/E ratio of -503.68 and a beta of 0.82. The stock’s 50-day moving average is $182.23 and its 200-day moving average is $182.66. Zscaler, Inc. has a one year low of $153.45 and a one year high of $259.61.

Zscaler (NASDAQ:ZS) last released its quarterly 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. The company had revenue of $592.90 million for the quarter, compared to analyst estimates of $567.46 million. Zscaler had a negative return on equity of 3.46% and a negative net margin of 2.66%. Zscaler’s revenue was up 30.3% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.17) earnings per share. Equities analysts anticipate that Zscaler, Inc. will post -0.97 EPS for the current year.

About Zscaler

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.