Sterling Investment Advisors Ltd. Lowers Stake in Zscaler, Inc. (NASDAQ:ZS)

Sterling Investment Advisors Ltd. reduced its position in shares of Zscaler, Inc. (NASDAQ:ZS) by 13.0% during the 4th quarter, HoldingsChannel reports. The fund owned 13,805 shares of the company’s stock after selling 2,070 shares during the period. Sterling Investment Advisors Ltd.’s holdings in Zscaler were worth $2,491,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of ZS. Signaturefd LLC raised its position in shares of Zscaler by 15.0% during the 3rd quarter. Signaturefd LLC now owns 1,028 shares of the company’s stock worth $176,000 after purchasing an additional 134 shares during the last quarter. Private Advisor Group LLC raised its position in shares of Zscaler by 2.0% during the 3rd quarter. Private Advisor Group LLC now owns 21,070 shares of the company’s stock worth $3,602,000 after purchasing an additional 415 shares during the last quarter. International Assets Investment Management LLC raised its position in shares of Zscaler by 13,498.6% during the 3rd quarter. International Assets Investment Management LLC now owns 285,299 shares of the company’s stock worth $48,769,000 after purchasing an additional 283,201 shares during the last quarter. Ballentine Partners LLC raised its position in shares of Zscaler by 144.4% during the 3rd quarter. Ballentine Partners LLC now owns 2,762 shares of the company’s stock worth $472,000 after purchasing an additional 1,632 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its position in shares of Zscaler by 8.9% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 44,188 shares of the company’s stock worth $7,590,000 after purchasing an additional 3,598 shares during the last quarter. 46.45% of the stock is owned by hedge funds and other institutional investors.

Zscaler Stock Performance

Shares of NASDAQ:ZS opened at $197.05 on Tuesday. Zscaler, Inc. has a one year low of $153.45 and a one year high of $251.55. The company has a 50-day simple moving average of $195.23 and a 200-day simple moving average of $191.07. The stock has a market capitalization of $30.24 billion, a price-to-earnings ratio of -788.20 and a beta of 0.89.

Zscaler (NASDAQ:ZS) last issued its quarterly earnings results on Monday, December 2nd. The company reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.63 by $0.14. Zscaler had a negative net margin of 1.58% and a negative return on equity of 0.75%. The business had revenue of $628.00 million for the quarter, compared to analyst estimates of $605.51 million. During the same period in the previous year, the business posted ($0.18) earnings per share. The business’s revenue was up 26.4% compared to the same quarter last year. As a group, research analysts forecast that Zscaler, Inc. will post -0.1 EPS for the current fiscal year.

Analyst Ratings Changes

ZS has been the subject of several research analyst reports. Mizuho upped their price target on shares of Zscaler from $210.00 to $225.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 12th. JPMorgan Chase & Co. increased their price objective on shares of Zscaler from $220.00 to $240.00 and gave the company an “overweight” rating in a report on Friday, November 29th. Needham & Company LLC reiterated a “buy” rating and issued a $240.00 price objective on shares of Zscaler in a report on Friday, January 10th. Guggenheim restated a “neutral” rating on shares of Zscaler in a report on Tuesday, December 3rd. Finally, BTIG Research raised their price target on shares of Zscaler from $205.00 to $238.00 and gave the stock a “buy” rating in a report on Wednesday, November 27th. Eleven investment analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Zscaler presently has a consensus rating of “Moderate Buy” and an average price target of $226.56.

Insiders Place Their Bets

In other news, CEO Jagtar Singh Chaudhry sold 2,863 shares of the stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $200.32, for a total value of $573,516.16. Following the sale, the chief executive officer now directly owns 358,569 shares in the company, valued at $71,828,542.08. This represents a 0.79 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Syam Nair sold 3,682 shares of the stock in a transaction that occurred 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 in the company, valued at $28,618,917.12. This represents a 2.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 10,248 shares of company stock worth $2,052,879. 18.10% of the stock is owned by company insiders.

Zscaler Company 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.