Zscaler, Inc. (NASDAQ:ZS) Shares Sold by Independent Advisor Alliance

Independent Advisor Alliance lessened its stake in shares of Zscaler, Inc. (NASDAQ:ZS) by 72.1% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,206 shares of the company’s stock after selling 5,690 shares during the quarter. Independent Advisor Alliance’s holdings in Zscaler were worth $377,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Quest Partners LLC purchased a new stake in Zscaler during the 2nd quarter worth $28,000. Asset Dedication LLC boosted its holdings in Zscaler by 436.8% in the second quarter. Asset Dedication LLC now owns 204 shares of the company’s stock valued at $39,000 after purchasing an additional 166 shares during the last quarter. American Capital Advisory LLC acquired a new stake in Zscaler during the 2nd quarter valued at approximately $50,000. GAMMA Investing LLC increased its holdings in Zscaler by 21.3% during the 2nd quarter. GAMMA Investing LLC now owns 382 shares of the company’s stock worth $73,000 after purchasing an additional 67 shares during the last quarter. Finally, Quarry LP raised its position in shares of Zscaler by 613.0% in the 2nd quarter. Quarry LP now owns 385 shares of the company’s stock valued at $74,000 after purchasing an additional 331 shares in the last quarter. Hedge funds and other institutional investors own 46.45% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. BTIG Research lifted their price target on shares of Zscaler from $205.00 to $238.00 and gave the stock a “buy” rating in a research note on Wednesday. Oppenheimer cut their target price on shares of Zscaler from $260.00 to $230.00 and set an “outperform” rating on the stock in a research note on Wednesday, September 4th. Cantor Fitzgerald upgraded Zscaler to a “hold” rating in a research note on Monday, November 18th. Rosenblatt Securities reaffirmed a “neutral” rating and set a $190.00 target price on shares of Zscaler in a report on Wednesday, September 4th. Finally, BNP Paribas started coverage on Zscaler in a research note on Tuesday, October 8th. They set a “neutral” rating and a $180.00 price objective on the stock. Ten investment analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Zscaler currently has an average rating of “Moderate Buy” and a consensus target price of $220.48.

Insiders Place Their Bets

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

Zscaler Price Performance

ZS opened at $204.96 on Friday. Zscaler, Inc. has a 1-year low of $153.45 and a 1-year high of $259.61. The business has a 50 day moving average price of $188.79 and a two-hundred day moving average price of $184.36. The company has a market capitalization of $31.45 billion, a price-to-earnings ratio of -512.39 and a beta of 0.82.

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

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.