Zscaler, Inc. (NASDAQ:ZS) Stock Position Cut by Advisors Asset Management Inc.

Advisors Asset Management Inc. reduced its stake in Zscaler, Inc. (NASDAQ:ZSGet Rating) by 11.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,251 shares of the company’s stock after selling 956 shares during the period. Advisors Asset Management Inc.’s holdings in Zscaler were worth $1,084,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Arthur M. Cohen & Associates LLC raised its position in Zscaler by 0.5% in the first quarter. Arthur M. Cohen & Associates LLC now owns 12,269 shares of the company’s stock worth $2,960,000 after acquiring an additional 66 shares in the last quarter. Archford Capital Strategies LLC raised its holdings in shares of Zscaler by 1.6% in the 2nd quarter. Archford Capital Strategies LLC now owns 4,212 shares of the company’s stock worth $630,000 after purchasing an additional 66 shares in the last quarter. Arizona State Retirement System lifted its stake in Zscaler by 0.3% during the second quarter. Arizona State Retirement System now owns 23,457 shares of the company’s stock valued at $3,507,000 after purchasing an additional 66 shares during the last quarter. International Assets Investment Management LLC boosted its holdings in Zscaler by 2.7% during the first quarter. International Assets Investment Management LLC now owns 2,558 shares of the company’s stock worth $617,000 after buying an additional 67 shares in the last quarter. Finally, Gulf International Bank UK Ltd grew its position in Zscaler by 0.4% in the first quarter. Gulf International Bank UK Ltd now owns 17,936 shares of the company’s stock worth $4,327,000 after buying an additional 80 shares during the last quarter. 45.51% of the stock is currently owned by institutional investors.

Insider Transactions at Zscaler

In related news, insider Robert Schlossman sold 8,045 shares of the company’s stock in a transaction on Friday, September 16th. The shares were sold at an average price of $167.97, for a total transaction of $1,351,318.65. Following the completion of the transaction, the insider now directly owns 135,381 shares in the company, valued at approximately $22,739,946.57. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, insider Robert Schlossman sold 8,045 shares of the business’s stock in a transaction dated Friday, September 16th. The stock was sold at an average price of $167.97, for a total transaction of $1,351,318.65. Following the transaction, the insider now directly owns 135,381 shares in the company, valued at $22,739,946.57. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Dali Rajic sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, September 30th. The stock was sold at an average price of $168.00, for a total value of $3,360,000.00. Following the completion of the sale, the chief operating officer now owns 270,599 shares of the company’s stock, valued at approximately $45,460,632. The disclosure for this sale can be found here. Insiders sold a total of 175,339 shares of company stock worth $29,386,731 over the last three months. 20.30% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on ZS shares. Canaccord Genuity Group increased their price objective on Zscaler from $210.00 to $220.00 and gave the company a “buy” rating in a research report on Friday, September 9th. Barclays raised their target price on shares of Zscaler from $168.00 to $175.00 and gave the stock an “equal weight” rating in a report on Friday, September 9th. Stephens boosted their price target on shares of Zscaler from $200.00 to $210.00 and gave the company an “overweight” rating in a report on Friday, September 9th. BTIG Research lowered shares of Zscaler from a “buy” rating to a “neutral” rating in a research note on Tuesday, July 26th. Finally, Canaccord Genuity Group boosted their target price on shares of Zscaler from $210.00 to $220.00 in a research note on Friday, September 9th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, twenty-seven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $230.41.

Zscaler Price Performance

NASDAQ:ZS opened at $140.35 on Thursday. The company has a current ratio of 1.99, a quick ratio of 1.99 and a debt-to-equity ratio of 1.69. Zscaler, Inc. has a 1 year low of $114.21 and a 1 year high of $376.11. The firm’s fifty day simple moving average is $155.57 and its 200 day simple moving average is $156.86.

Zscaler (NASDAQ:ZSGet Rating) last issued its quarterly earnings results on Thursday, September 8th. The company reported ($0.40) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.63) by $0.23. Zscaler had a negative return on equity of 55.59% and a negative net margin of 35.77%. The company had revenue of $318.06 million for the quarter, compared to the consensus estimate of $305.54 million. During the same period last year, the business posted ($0.48) earnings per share. The firm’s revenue was up 61.4% compared to the same quarter last year. As a group, sell-side analysts expect that Zscaler, Inc. will post -2.13 earnings per share for the current fiscal year.

Zscaler Company Profile

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Zscaler, Inc operates as a cloud security company worldwide. It 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.

Further Reading

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Institutional Ownership by Quarter for Zscaler (NASDAQ:ZS)

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