Zscaler, Inc. (NASDAQ:ZS) Shares Sold by Kingsview Wealth Management LLC

Kingsview Wealth Management LLC cut its position in shares of Zscaler, Inc. (NASDAQ:ZS) by 5.3% during the third quarter, Holdings Channel.com reports. The firm owned 2,689 shares of the company’s stock after selling 150 shares during the quarter. Kingsview Wealth Management LLC’s holdings in Zscaler were worth $460,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. Cerity Partners LLC raised its stake in Zscaler by 73.5% during the third quarter. Cerity Partners LLC now owns 10,562 shares of the company’s stock worth $1,806,000 after purchasing an additional 4,476 shares during the period. Champlain Investment Partners LLC raised its stake in Zscaler by 28.2% during the third quarter. Champlain Investment Partners LLC now owns 1,289,350 shares of the company’s stock worth $220,401,000 after purchasing an additional 283,540 shares during the period. Nwam LLC raised its stake in Zscaler by 19.5% during the third quarter. Nwam LLC now owns 2,308 shares of the company’s stock worth $395,000 after purchasing an additional 377 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of Zscaler by 4.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 355,070 shares of the company’s stock valued at $60,696,000 after acquiring an additional 16,634 shares during the period. Finally, Advisors Asset Management Inc. raised its stake in shares of Zscaler by 50.1% in the 3rd quarter. Advisors Asset Management Inc. now owns 4,082 shares of the company’s stock valued at $698,000 after acquiring an additional 1,363 shares during the period. 46.45% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on ZS shares. Barclays boosted their price target on shares of Zscaler from $200.00 to $220.00 and gave the company an “overweight” rating in a research note on Thursday, November 21st. Cantor Fitzgerald raised shares of Zscaler to a “hold” rating in a research note on Monday, November 18th. Susquehanna reissued a “positive” rating and issued a $210.00 price target on shares of Zscaler in a research note on Thursday, September 5th. UBS Group reduced their price target on shares of Zscaler from $270.00 to $250.00 and set a “buy” rating on the stock in a research note on Wednesday, September 4th. Finally, Jefferies Financial Group upped their target price on shares of Zscaler from $225.00 to $245.00 and gave the stock a “buy” rating in a research note on Tuesday. Ten investment analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $220.48.

Zscaler Trading Down 2.5 %

Shares of Zscaler stock opened at $204.96 on Friday. The company has a fifty day simple moving average of $188.79 and a 200-day simple moving average of $184.36. Zscaler, Inc. has a 12-month low of $153.45 and a 12-month high of $259.61. The stock has a market cap of $31.45 billion, a price-to-earnings ratio of -512.39 and a beta of 0.82.

Zscaler (NASDAQ:ZS) last released its quarterly earnings results on Tuesday, September 3rd. The company reported ($0.05) EPS for the quarter, beating the consensus estimate of ($0.14) by $0.09. Zscaler had a negative net margin of 2.66% and a negative return on equity of 3.46%. The firm had revenue of $592.90 million during the quarter, compared to the consensus estimate of $567.46 million. During the same quarter in the prior year, the firm earned ($0.17) EPS. Zscaler’s revenue for the quarter was up 30.3% on a year-over-year basis. On average, analysts forecast that Zscaler, Inc. will post -0.95 earnings per share for the current fiscal year.

Insider Activity at Zscaler

In other Zscaler news, insider Robert Schlossman sold 4,947 shares of the company’s stock in a transaction on Monday, September 30th. The shares were sold at an average price of $170.22, for a total transaction of $842,078.34. Following the completion of the transaction, the insider now owns 107,241 shares in the company, valued at approximately $18,254,563.02. This represents a 4.41 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jagtar Singh Chaudhry sold 2,852 shares of the company’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $171.28, for a total transaction of $488,490.56. Following the transaction, the chief executive officer now owns 361,432 shares of the company’s stock, valued at approximately $61,906,072.96. The trade was a 0.78 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 30,502 shares of company stock worth $5,256,651 in the last 90 days. 19.20% of the stock is owned by 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.