Wells Fargo & Company MN increased its stake in shares of Zscaler Inc (NASDAQ:ZS) by 19.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 119,452 shares of the company’s stock after acquiring an additional 19,128 shares during the period. Wells Fargo & Company MN’s holdings in Zscaler were worth $9,156,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Geode Capital Management LLC boosted its stake in shares of Zscaler by 92.5% in the fourth quarter. Geode Capital Management LLC now owns 432,787 shares of the company’s stock worth $16,969,000 after acquiring an additional 207,920 shares during the last quarter. Bank of Montreal Can boosted its stake in shares of Zscaler by 140.3% in the first quarter. Bank of Montreal Can now owns 5,404 shares of the company’s stock worth $384,000 after acquiring an additional 3,155 shares during the last quarter. SG Americas Securities LLC acquired a new stake in shares of Zscaler in the first quarter worth approximately $195,000. State Board of Administration of Florida Retirement System lifted its position in Zscaler by 26.2% during the first quarter. State Board of Administration of Florida Retirement System now owns 22,223 shares of the company’s stock worth $1,576,000 after buying an additional 4,610 shares in the last quarter. Finally, California Public Employees Retirement System lifted its position in Zscaler by 104.3% during the first quarter. California Public Employees Retirement System now owns 58,219 shares of the company’s stock worth $4,129,000 after buying an additional 29,719 shares in the last quarter. 33.49% of the stock is currently owned by hedge funds and other institutional investors.

A number of equities analysts recently commented on ZS shares. Morgan Stanley reduced their price objective on Zscaler to $47.00 and set an “underweight” rating on the stock in a research report on Wednesday. Robert W. Baird reduced their price objective on Zscaler from $80.00 to $70.00 and set an “outperform” rating on the stock in a research report on Wednesday. Cowen reduced their price objective on Zscaler from $85.00 to $70.00 and set an “outperform” rating on the stock in a research report on Wednesday. Piper Jaffray Companies reduced their price objective on Zscaler from $82.00 to $70.00 and set an “overweight” rating on the stock in a research report on Wednesday. Finally, Credit Suisse Group reiterated an “outperform” rating and set a $70.00 price objective (down previously from $78.00) on shares of Zscaler in a research report on Wednesday. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $67.50.

In other news, EVP Amit Sinha sold 18,000 shares of the company’s stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $80.78, for a total transaction of $1,454,040.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Manoj Apte sold 95,544 shares of the company’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $84.91, for a total value of $8,112,641.04. The disclosure for this sale can be found here. Insiders sold a total of 189,774 shares of company stock worth $15,730,959 in the last quarter. Company insiders own 27.40% of the company’s stock.

NASDAQ:ZS traded down $1.48 on Friday, reaching $48.11. The company’s stock had a trading volume of 115,071 shares, compared to its average volume of 2,876,411. Zscaler Inc has a 12-month low of $30.72 and a 12-month high of $89.54. The firm has a market cap of $7.74 billion, a price-to-earnings ratio of -402.75 and a beta of 1.29. The stock has a 50 day moving average price of $76.08 and a 200 day moving average price of $72.13.

Zscaler (NASDAQ:ZS) last posted its quarterly earnings data on Tuesday, September 10th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.08) by $0.06. The firm had revenue of $86.11 million for the quarter, compared to the consensus estimate of $82.15 million. Zscaler had a negative return on equity of 9.78% and a negative net margin of 9.46%. Research analysts anticipate that Zscaler Inc will post -0.24 earnings per share for the current fiscal year.

Zscaler Company Profile

Zscaler, Inc operates as a cloud security company worldwide. The company's flagship services include Zscaler Internet Access solution that connect users to externally managed applications, including software-as-a-service applications and Internet destinations; and Zscaler Private Access solution, which is designed to provide access to internally managed applications, either hosted internally in data centers, and private or public clouds.

Further Reading: After-Hours Trading

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Institutional Ownership by Quarter for Zscaler (NASDAQ:ZS)

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