Valicenti Advisory Services Inc. Increases Holdings in Zscaler, Inc. (NASDAQ:ZS)

Valicenti Advisory Services Inc. grew its holdings in shares of Zscaler, Inc. (NASDAQ:ZS) by 18.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,056 shares of the company’s stock after buying an additional 2,386 shares during the quarter. Valicenti Advisory Services Inc.’s holdings in Zscaler were worth $2,574,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. State Board of Administration of Florida Retirement System grew its holdings in Zscaler by 6.9% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 103,937 shares of the company’s stock valued at $20,021,000 after purchasing an additional 6,683 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in Zscaler by 9.1% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 116,691 shares of the company’s stock valued at $22,478,000 after purchasing an additional 9,689 shares during the last quarter. Wealthcare Advisory Partners LLC grew its holdings in Zscaler by 40.0% during the 1st quarter. Wealthcare Advisory Partners LLC now owns 2,438 shares of the company’s stock valued at $470,000 after purchasing an additional 696 shares during the last quarter. Norden Group LLC bought a new position in Zscaler in the 1st quarter worth about $846,000. Finally, Central Pacific Bank Trust Division bought a new position in Zscaler in the 1st quarter worth about $809,000. 46.45% of the stock is currently owned by institutional investors.

Insider Activity at Zscaler

In related news, insider Robert Schlossman sold 4,947 shares of the firm’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 sale, the insider now owns 107,241 shares in the company, valued at approximately $18,254,563.02. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Robert Schlossman sold 4,947 shares of Zscaler stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $170.22, for a total value of $842,078.34. Following the sale, the insider now owns 107,241 shares in the company, valued at $18,254,563.02. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Jagtar Singh Chaudhry sold 2,852 shares of Zscaler stock in a transaction dated 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 in the company, valued at approximately $61,906,072.96. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 30,502 shares of company stock worth $5,256,651. 19.20% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of brokerages have commented on ZS. Oppenheimer dropped 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. JPMorgan Chase & Co. dropped their target price on shares of Zscaler from $230.00 to $220.00 and set an “overweight” rating on the stock in a research note on Wednesday, September 4th. Loop Capital dropped their target price on shares of Zscaler from $180.00 to $165.00 and set a “hold” rating on the stock in a research note on Wednesday, September 4th. BNP Paribas began coverage on shares of Zscaler in a research note on Tuesday, October 8th. They issued a “neutral” rating and a $180.00 target price on the stock. Finally, Scotiabank dropped their target price on shares of Zscaler from $210.00 to $195.00 and set a “sector outperform” rating on the stock in a research note on Wednesday, September 4th. Ten research 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 stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $216.73.

Zscaler Price Performance

Shares of Zscaler stock opened at $183.93 on Friday. The firm has a fifty day moving average price of $181.06 and a 200 day moving average price of $180.75. Zscaler, Inc. has a 1 year low of $152.60 and a 1 year high of $259.61. The stock has a market cap of $27.80 billion, a PE ratio of -360.65 and a beta of 0.82.

Zscaler (NASDAQ:ZS) last issued its earnings results on Tuesday, September 3rd. The company reported ($0.05) earnings per share (EPS) for the quarter, topping 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 analysts’ expectations of $567.46 million. During the same quarter last year, the company posted ($0.17) earnings per share. The firm’s revenue was up 30.3% compared to the same quarter last year. As a group, equities analysts expect that Zscaler, Inc. will post -0.95 EPS for the current year.

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.