Veracity Capital LLC Sells 78 Shares of Zscaler, Inc. (NASDAQ:ZS)

Veracity Capital LLC reduced its holdings in shares of Zscaler, Inc. (NASDAQ:ZS) by 3.7% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,029 shares of the company’s stock after selling 78 shares during the quarter. Veracity Capital LLC’s holdings in Zscaler were worth $391,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Sierra Summit Advisors LLC acquired a new position in Zscaler in the 4th quarter worth about $5,609,000. Sequoia Financial Advisors LLC acquired a new position in Zscaler in the 4th quarter worth about $9,674,000. Nordea Investment Management AB increased its holdings in Zscaler by 463.5% in the 4th quarter. Nordea Investment Management AB now owns 29,803 shares of the company’s stock worth $6,629,000 after purchasing an additional 24,514 shares in the last quarter. Norges Bank acquired a new position in Zscaler in the 4th quarter worth about $117,599,000. Finally, Vanguard Group Inc. increased its stake in shares of Zscaler by 1.5% in the third quarter. Vanguard Group Inc. now owns 8,636,864 shares of the company’s stock valued at $1,343,810,000 after buying an additional 129,090 shares during the period. 46.45% of the stock is currently owned by institutional investors.

Insider Activity at Zscaler

In related news, CFO Remo Canessa sold 7,981 shares of the business’s stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $177.21, for a total transaction of $1,414,313.01. Following the completion of the transaction, the chief financial officer now directly owns 243,486 shares in the company, valued at $43,148,154.06. The transaction was disclosed in a document filed with the SEC, which is available through this link. 19.20% of the stock is currently owned by corporate insiders.

Zscaler Stock Performance

NASDAQ:ZS opened at $198.87 on Friday. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.75 and a current ratio of 1.75. Zscaler, Inc. has a 52-week low of $131.59 and a 52-week high of $259.61. The firm has a market cap of $30.06 billion, a price-to-earnings ratio of -389.02 and a beta of 0.85. The business’s fifty day moving average is $178.72 and its 200 day moving average is $202.27.

Zscaler (NASDAQ:ZS) last released its quarterly earnings data on Thursday, May 30th. The company reported $0.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.39. Zscaler had a negative return on equity of 5.84% and a negative net margin of 3.62%. The company had revenue of $553.20 million for the quarter, compared to analyst estimates of $535.55 million. Research analysts predict that Zscaler, Inc. will post -0.34 EPS for the current year.

Analysts Set New Price Targets

ZS has been the subject of several recent research reports. Royal Bank of Canada increased their price target on Zscaler from $215.00 to $230.00 and gave the company an “outperform” rating in a research note on Friday, May 31st. JMP Securities reissued a “market outperform” rating and issued a $270.00 price target on shares of Zscaler in a research note on Monday, June 17th. UBS Group decreased their price target on Zscaler from $300.00 to $270.00 and set a “buy” rating for the company in a research note on Wednesday, May 29th. Canaccord Genuity Group decreased their price target on Zscaler from $260.00 to $220.00 and set a “buy” rating for the company in a research note on Tuesday, June 4th. Finally, Barclays raised their target price on Zscaler from $205.00 to $210.00 and gave the stock an “overweight” rating in a research note on Friday, May 31st. Six investment analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $225.21.

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.