Zscaler, Inc. (NASDAQ:ZS) Shares Sold by L & S Advisors Inc

L & S Advisors Inc lowered its position in Zscaler, Inc. (NASDAQ:ZS) by 7.0% in the third quarter, HoldingsChannel reports. The fund owned 8,109 shares of the company’s stock after selling 607 shares during the quarter. L & S Advisors Inc’s holdings in Zscaler were worth $1,386,000 at the end of the most recent reporting period.

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

Wall Street Analyst Weigh In

ZS has been the subject of a number of recent research reports. Morgan Stanley lifted their price target on shares of Zscaler from $202.00 to $215.00 and gave the stock an “equal weight” rating in a report on Monday, August 26th. Citigroup reduced their target price on shares of Zscaler from $240.00 to $230.00 and set a “buy” rating on the stock in a research report on Friday, October 4th. Stifel Nicolaus boosted their target price on shares of Zscaler from $220.00 to $235.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $190.00 price target on shares of Zscaler in a report on Wednesday, September 4th. Finally, Robert W. Baird lowered their target price on shares of Zscaler from $260.00 to $225.00 and set an “outperform” rating for the company in a research note on Wednesday, September 4th. Ten investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Zscaler has a consensus rating of “Moderate Buy” and a consensus price target of $217.79.

Insider Transactions at Zscaler

In other Zscaler news, CFO Remo Canessa sold 8,455 shares of the stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $171.28, for a total transaction of $1,448,172.40. Following the sale, the chief financial officer now owns 231,793 shares of the company’s stock, valued at approximately $39,701,505.04. This trade represents a 3.52 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Michael J. Rich sold 4,813 shares of the stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $171.28, for a total value of $824,370.64. Following the sale, the insider now owns 103,259 shares of the company’s stock, valued at approximately $17,686,201.52. This represents a 4.45 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 30,502 shares of company stock valued at $5,256,651 over the last 90 days. Company insiders own 19.20% of the company’s stock.

Zscaler Stock Performance

Shares of NASDAQ:ZS opened at $207.30 on Friday. Zscaler, Inc. has a 52-week low of $153.45 and a 52-week high of $259.61. The firm has a market capitalization of $31.61 billion, a P/E ratio of -518.25 and a beta of 0.82. The stock has a 50 day moving average price of $185.67 and a 200-day moving average price of $183.33.

Zscaler (NASDAQ:ZS) last posted its earnings results on Tuesday, September 3rd. The company reported ($0.05) EPS for the quarter, topping 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 business had revenue of $592.90 million during the quarter, compared to analyst estimates of $567.46 million. During the same quarter last year, the company earned ($0.17) EPS. The company’s quarterly revenue was up 30.3% compared to the same quarter last year. On average, equities analysts forecast 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.