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

CIBC Asset Management Inc lifted its holdings in Zscaler, Inc. (NASDAQ:ZS) by 5.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 31,385 shares of the company’s stock after purchasing 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 filing with the SEC.

A number of other institutional investors have also made changes to their positions in the business. KRS Capital Management LLC increased its stake in shares of Zscaler by 1.9% in the fourth quarter. KRS Capital Management LLC now owns 3,261 shares of the company’s stock worth $588,000 after purchasing an additional 60 shares during the period. GAMMA Investing LLC increased its stake in Zscaler by 18.5% during the fourth quarter. GAMMA Investing LLC now owns 448 shares of the company’s stock valued at $81,000 after acquiring an additional 70 shares during the period. Avior Wealth Management LLC increased its stake in Zscaler by 50.7% during the fourth quarter. Avior Wealth Management LLC now owns 214 shares of the company’s stock valued at $39,000 after acquiring an additional 72 shares during the period. Choreo LLC increased its stake in Zscaler by 2.6% during the fourth quarter. Choreo LLC now owns 2,833 shares of the company’s stock valued at $517,000 after acquiring an additional 73 shares during the period. Finally, Valley Brook Capital Group Inc. increased its stake in Zscaler by 4.0% during the third quarter. Valley Brook Capital Group Inc. now owns 1,972 shares of the company’s stock valued at $337,000 after acquiring an additional 75 shares during the period. 46.45% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on ZS. Barclays boosted their price target on Zscaler from $200.00 to $220.00 and gave the company an “overweight” rating in a research note on Thursday, November 21st. BTIG Research boosted their price target on Zscaler from $205.00 to $238.00 and gave the company a “buy” rating in a research note on Wednesday, November 27th. Wells Fargo & Company boosted their price target on Zscaler from $180.00 to $190.00 and gave the company an “equal weight” rating in a research note on Wednesday, December 4th. Morgan Stanley lowered their price objective on 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, Cantor Fitzgerald upgraded Zscaler to a “hold” rating in a research note on Monday, November 18th. Eleven research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $225.63.

Zscaler Stock Performance

NASDAQ:ZS opened at $214.67 on Thursday. The stock’s fifty day moving average price is $195.36 and its two-hundred day moving average price is $190.19. Zscaler, Inc. has a 52-week low of $153.45 and a 52-week high of $251.94. The company has a market cap of $32.94 billion, a price-to-earnings ratio of -858.68 and a beta of 0.89.

Zscaler (NASDAQ:ZS) last posted its quarterly 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 company had revenue of $628.00 million for the quarter, compared to the consensus estimate of $605.51 million. Zscaler had a negative return on equity of 0.75% and a negative net margin of 1.58%. The firm’s quarterly revenue was up 26.4% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.18) EPS. On average, equities analysts predict that Zscaler, Inc. will post -0.1 EPS for the current fiscal year.

Insider Activity

In related news, CFO Remo Canessa sold 3,703 shares of the company’s stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $200.32, for a total value of $741,784.96. Following the completion of the sale, the chief financial officer now owns 220,635 shares in the company, valued at $44,197,603.20. This represents a 1.65 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Syam Nair sold 3,682 shares of the company’s stock in a transaction 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 completion of the sale, the insider now owns 142,866 shares of the company’s stock, valued at approximately $28,618,917.12. This represents a 2.51 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 10,248 shares of company stock valued at $2,052,879 in the last 90 days. 18.10% of the stock is owned by company insiders.

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.