Oppenheimer & Co. Inc. Has $1.12 Million Position in Zscaler, Inc. (NASDAQ:ZS)

Oppenheimer & Co. Inc. reduced its stake in Zscaler, Inc. (NASDAQ:ZS) by 9.0% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 6,568 shares of the company’s stock after selling 649 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Zscaler were worth $1,123,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. International Assets Investment Management LLC lifted its holdings in shares of Zscaler by 13,498.6% during the third quarter. International Assets Investment Management LLC now owns 285,299 shares of the company’s stock worth $48,769,000 after buying an additional 283,201 shares during the last quarter. Quadrature Capital Ltd acquired a new position in shares of Zscaler during the first quarter worth approximately $47,217,000. GuoLine Advisory Pte Ltd acquired a new position in shares of Zscaler during the third quarter worth approximately $32,660,000. Massachusetts Financial Services Co. MA acquired a new position in shares of Zscaler during the second quarter worth approximately $25,287,000. Finally, Vanguard Group Inc. lifted its holdings in shares of Zscaler by 1.3% during the first quarter. Vanguard Group Inc. now owns 8,961,774 shares of the company’s stock worth $1,726,307,000 after buying an additional 118,002 shares during the last quarter. 46.45% of the stock is currently owned by institutional investors and hedge funds.

Zscaler Stock Up 0.7 %

Shares of Zscaler stock opened at $202.85 on Tuesday. Zscaler, Inc. has a 12 month low of $153.45 and a 12 month high of $259.61. The business has a fifty day simple moving average of $183.11 and a 200 day simple moving average of $182.84. The stock has a market cap of $30.93 billion, a PE ratio of -507.11 and a beta of 0.82.

Zscaler (NASDAQ:ZS) last posted its earnings results on Tuesday, September 3rd. The company reported ($0.05) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.09. Zscaler had a negative return on equity of 3.46% and a negative net margin of 2.66%. The firm had revenue of $592.90 million during the quarter, compared to analysts’ expectations of $567.46 million. During the same period in the previous year, the firm earned ($0.17) earnings per share. The company’s revenue was up 30.3% on a year-over-year basis. Analysts expect that Zscaler, Inc. will post -0.97 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on ZS shares. Needham & Company LLC lowered their price objective on Zscaler from $290.00 to $235.00 and set a “strong-buy” rating on the stock in a research report on Wednesday, September 4th. Wells Fargo & Company lowered their price objective on Zscaler from $182.00 to $180.00 and set an “equal weight” rating on the stock in a research report on Wednesday, September 4th. UBS Group lowered their price objective on Zscaler from $270.00 to $250.00 and set a “buy” rating on the stock in a research report on Wednesday, September 4th. Susquehanna restated a “positive” rating and set a $210.00 price objective on shares of Zscaler in a research report on Thursday, September 5th. Finally, Wedbush lowered their price objective on Zscaler from $260.00 to $220.00 and set an “outperform” rating on the stock in a research report on Wednesday, September 4th. Ten investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $217.18.

Insider Buying and Selling at Zscaler

In other news, insider Robert Schlossman sold 1,435 shares of the company’s stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $181.70, for a total transaction of $260,739.50. Following the completion of the transaction, the insider now directly owns 105,806 shares of the company’s stock, valued at $19,224,950.20. This represents a 1.34 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Andrew William Fraser Brown sold 8,000 shares of the company’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $174.10, for a total value of $1,392,800.00. Following the transaction, the director now directly owns 25,907 shares of the company’s stock, valued at $4,510,408.70. This represents a 23.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 30,502 shares of company stock valued at $5,256,651. Company insiders own 19.20% of the company’s stock.

About Zscaler

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.