ING Groep NV has significantly reduced its investment in Zscaler, Inc. (NASDAQ: ZS) by selling 3,479 shares, representing a decrease of 75.1% in its holdings during the third quarter of 2023. Following this sale, the institutional investor now owns only 1,156 shares of Zscaler, valued at approximately $346,000 as of the end of the reporting period.
Several other institutional investors have also adjusted their positions in Zscaler. For instance, Federated Hermes Inc. increased its stake by an impressive 314.0% in the second quarter, now holding 1,171,983 shares valued at $367.9 million after acquiring an additional 888,888 shares. Similarly, Vanguard Group Inc. raised its shareholding by 8.3%, bringing its total to 10,715,132 shares, worth approximately $3.36 billion.
Insider Transactions and Market Performance
In recent insider trading activity, Zscaler’s Executive Vice President, Raj Judge, sold 3,438 shares on December 16, 2023, at an average price of $230.82, totaling about $793,559.16. Following this transaction, Judge still holds 70,394 shares, valued at around $16.25 million. CEO Jagtar Singh Chaudhry also sold 2,843 shares on the same day for approximately $656,221.26, reducing his total holdings to 347,857 shares worth about $80.29 million.
In the last quarter, insiders collectively sold 19,350 shares valued at $4.47 million, indicating a trend in insider selling. Corporate insiders now own 17.20% of Zscaler’s stock, while institutional investors account for 46.45% of the company’s shares.
Zscaler’s Financial Highlights
Zscaler’s stock recently opened at $177.72. The company has experienced notable market fluctuations, with a 50-day moving average of $213.90 and a 200-day average of $263.35. Zscaler currently boasts a market capitalization of $28.34 billion, a price-to-earnings (P/E) ratio of -683.51, and a beta of 1.02. The company’s stock has a 52-week low of $162.87 and a high of $336.99.
On November 25, 2023, Zscaler released its quarterly earnings, reporting earnings per share (EPS) of $0.96, surpassing the consensus estimate of $0.85. Revenue for the quarter reached $788.11 million, exceeding analysts’ expectations of $773.86 million. Year-over-year, Zscaler’s revenue increased by 25.5%, up from $0.77 EPS in the same quarter last year.
Looking ahead, Zscaler has provided guidance for fiscal year 2026, projecting EPS between $3.780 and $3.820, with a second-quarter estimate of $0.890 to $0.900. Analysts forecast Zscaler will post an EPS of -0.1 for the current year.
Zscaler operates as a cloud security company, offering a cloud-native platform that protects users, applications, and data. The company adopts a zero trust approach, ensuring secure access to the internet and applications regardless of user location. Its offerings are designed to replace traditional security appliances, emphasizing simplicity and efficiency for modern workforces.
For further insights into Zscaler’s performance and other institutional investments, interested parties can visit HoldingsChannel.com for updates on 13F filings and insider trades.
