SG Americas Securities LLC Reduces Stake in Zscaler, Inc.
SG Americas Securities LLC has reduced its investment in Zscaler, Inc. (NASDAQ:ZS) by 3.7% during the fourth quarter, as reported in their recent Form 13F filing with the Securities and Exchange Commission (SEC). After selling 486 shares, the firm now holds 12,712 shares of Zscaler's stock, which is valued at approximately $2,293,000 at the end of their latest reporting period.
Several other institutional investors and hedge funds have also adjusted their stakes in Zscaler recently. For instance, Geode Capital Management LLC increased its holdings by 3.9% in the third quarter, accumulating a total of 1,625,861 shares worth around $277.3 million after acquiring an additional 60,414 shares. Similarly, Champlain Investment Partners LLC raised its position by 28.2% to own 1,289,350 shares valued at $220.4 million, following a purchase of 283,540 shares during the last quarter. Westfield Capital Management Co. LP enhanced its holdings by 33.8%, reaching 399,516 shares worth about $68.3 million after acquiring an additional 100,814 shares. Nomura Asset Management Co. Ltd. also increased its position by 11.0%, holding 380,463 shares valued at $65.0 million after purchasing 37,801 shares. Lastly, Charles Schwab Investment Management Inc. raised its stake by 4.9%, totaling 355,070 shares worth around $60.7 million following an acquisition of 16,634 shares. Overall, institutional investors and hedge funds own approximately 46.45% of Zscaler's stock.
Analysts Assess Zscaler
The stock has attracted attention from various Wall Street analysts. KeyCorp recently raised its price target for Zscaler from $245.00 to $250.00 and assigned an “overweight” rating. Conversely, Morgan Stanley lowered its target from $215.00 to $205.00 while maintaining an “equal weight” rating. Stifel Nicolaus increased their target from $220.00 to $235.00 while suggesting a “buy” rating, as did Barclays, which raised their target from $200.00 to $220.00. Deutsche Bank also lifted its price target from $200.00 to $225.00. According to available data, 23 analysts have given the stock a buy rating, while 11 have a hold rating. The consensus rating for Zscaler is considered a “Moderate Buy,” with an average price target of $225.47.
Insider Trading Activities
In other developments, insider Syam Nair sold 3,682 shares on December 17th at an average price of $200.32, totaling approximately $737,578.24. Following this transaction, Nair holds 142,866 shares valued at around $28.6 million. Additionally, CEO Jagtar Singh Chaudhry also sold shares on the same day, offloading 2,863 shares for $573,516.16, reducing his holdings to 358,569 shares valued at about $71.8 million. In the last three months, insiders have sold a total of 10,248 shares, amounting to $2,052,879. Company insiders currently own 18.10% of Zscaler's stock.
Zscaler's Performance Metrics
On the stock market, shares of Zscaler (NASDAQ:ZS) opened at $193.47. The stock has seen a 52-week low of $153.45 and a high of $259.61. Currently, Zscaler has a market capitalization of approximately $29.69 billion, with a PE ratio of -773.88 and a beta of 0.87. The stock's fifty-day moving average stands at $195.05, while the 200-day moving average is $187.72.
In their most recent earnings report on December 2nd, Zscaler announced an earnings per share (EPS) of $0.77, surpassing analysts’ expectations of $0.63. The company showed a negative return on equity of 0.75% and a negative net margin of 1.58%. Their revenue for the quarter was reported at $628 million, exceeding the consensus estimate of $605.51 million. This marks a 26.4% increase in revenue compared to the same period last year. Analysts predict an EPS of -0.16 for Zscaler in the current year.
Overview of Zscaler, Inc.
Zscaler, Inc. operates globally as a cloud security provider. The company’s services include Zscaler Internet Access, which enables safe access to both SaaS applications and online resources for users, workloads, IoT, and OT devices, and Zscaler Private Access, which grants access to internally managed applications hosted in data centers and in various cloud environments.
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