Shepherd Financial Partners LLC Grows Position in Zscaler, Inc. (NASDAQ:ZS)

Shepherd Financial Partners LLC raised its stake in Zscaler, Inc. (NASDAQ:ZS) by 42.8% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,035 shares of the company’s stock after acquiring an additional 1,509 shares during the quarter. Shepherd Financial Partners LLC’s holdings in Zscaler were worth $861,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in ZS. International Assets Investment Management LLC raised its stake in 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 purchasing an additional 283,201 shares during the period. Quadrature Capital Ltd acquired a new position in Zscaler in the first quarter valued at $47,217,000. GuoLine Advisory Pte Ltd purchased a new stake in Zscaler during the third quarter valued at about $32,660,000. Jupiter Asset Management Ltd. acquired a new stake in Zscaler during the first quarter worth about $27,954,000. Finally, Massachusetts Financial Services Co. MA acquired a new position in shares of Zscaler in the 2nd quarter valued at about $25,287,000. 46.45% of the stock is currently owned by hedge funds and other institutional investors.

Zscaler Price Performance

Zscaler stock traded up $2.81 during trading hours on Friday, hitting $183.60. The company had a trading volume of 495,180 shares, compared to its average volume of 2,050,229. The firm’s fifty day moving average is $179.97 and its 200-day moving average is $180.80. The firm has a market capitalization of $28.00 billion, a P/E ratio of -459.48 and a beta of 0.82. Zscaler, Inc. has a fifty-two week low of $153.45 and a fifty-two week high of $259.61.

Zscaler (NASDAQ:ZS) last posted its quarterly earnings results on Tuesday, September 3rd. The company reported ($0.05) earnings per share 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 company had revenue of $592.90 million during the quarter, compared to the consensus estimate of $567.46 million. During the same period last year, the business earned ($0.17) EPS. The business’s quarterly revenue was up 30.3% on a year-over-year basis. Analysts anticipate that Zscaler, Inc. will post -0.95 earnings per share for the current year.

Insider Activity

In other news, CEO Jagtar Singh Chaudhry sold 2,852 shares of Zscaler stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $171.28, for a total value of $488,490.56. Following the transaction, the chief executive officer now owns 361,432 shares of the company’s stock, valued at $61,906,072.96. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, insider Robert Schlossman sold 1,435 shares of the business’s stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $181.70, for a total value of $260,739.50. Following the sale, the insider now owns 105,806 shares of the company’s stock, valued at $19,224,950.20. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Jagtar Singh Chaudhry sold 2,852 shares of the company’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $171.28, for a total value of $488,490.56. Following the completion of the sale, the chief executive officer now owns 361,432 shares in the company, valued at $61,906,072.96. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 30,502 shares of company stock valued at $5,256,651. Insiders own 19.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on ZS. BTIG Research decreased their price target on shares of Zscaler from $220.00 to $205.00 and set a “buy” rating for the company in a research report on Wednesday, September 4th. Wedbush lowered their target price on Zscaler from $260.00 to $220.00 and set an “outperform” rating for the company in a research note on Wednesday, September 4th. UBS Group reduced their price target on Zscaler from $270.00 to $250.00 and set a “buy” rating on the stock in a research report on Wednesday, September 4th. Oppenheimer reduced their target price on shares of Zscaler from $260.00 to $230.00 and set an “outperform” rating on the stock in a research report on Wednesday, September 4th. Finally, Bank of America lowered shares of Zscaler from a “buy” rating to a “neutral” rating and lowered their price target for the company from $265.00 to $195.00 in a report on Wednesday, September 4th. Ten research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $216.73.

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.