Raymond James Financial Services Advisors Inc. Cuts Stock Holdings in Zscaler, Inc. (NASDAQ:ZS)

Raymond James Financial Services Advisors Inc. trimmed its stake in shares of Zscaler, Inc. (NASDAQ:ZS – Get Rating) by 27.8% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 22,399 shares of the company’s stock after selling 8,605 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Zscaler were worth $2,506,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. International Assets Investment Management LLC lifted its holdings in Zscaler by 2.7% during the 1st quarter. International Assets Investment Management LLC now owns 2,558 shares of the company’s stock valued at $617,000 after buying an additional 67 shares in the last quarter. Van ECK Associates Corp raised its holdings in shares of Zscaler by 9.2% in the 4th quarter. Van ECK Associates Corp now owns 1,006 shares of the company’s stock valued at $113,000 after purchasing an additional 85 shares in the last quarter. Huntington National Bank raised its holdings in shares of Zscaler by 29.8% in the 3rd quarter. Huntington National Bank now owns 388 shares of the company’s stock valued at $63,000 after purchasing an additional 89 shares in the last quarter. Sepio Capital LP raised its holdings in shares of Zscaler by 1.5% in the 4th quarter. Sepio Capital LP now owns 6,585 shares of the company’s stock valued at $737,000 after purchasing an additional 97 shares in the last quarter. Finally, Utah Retirement Systems raised its holdings in shares of Zscaler by 0.7% in the 3rd quarter. Utah Retirement Systems now owns 14,942 shares of the company’s stock valued at $2,456,000 after purchasing an additional 100 shares in the last quarter. 45.33% of the stock is owned by hedge funds and other institutional investors.

Zscaler Price Performance

Shares of NASDAQ ZS opened at $124.47 on Wednesday. The company’s fifty day moving average price is $106.92 and its 200 day moving average price is $117.54. Zscaler, Inc. has a 1 year low of $84.93 and a 1 year high of $194.21. The company has a debt-to-equity ratio of 2.16, a current ratio of 2.01 and a quick ratio of 2.01.

Zscaler (NASDAQ:ZS – Get Rating) last announced its quarterly earnings results on Thursday, March 2nd. The company reported ($0.35) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.43) by $0.08. The firm had revenue of $387.60 million for the quarter, compared to the consensus estimate of $363.80 million. Zscaler had a negative net margin of 24.08% and a negative return on equity of 50.58%. Equities analysts forecast that Zscaler, Inc. will post -1.19 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently commented on ZS. Citigroup boosted their price target on shares of Zscaler from $145.00 to $148.00 in a report on Monday, May 8th. JPMorgan Chase & Co. began coverage on shares of Zscaler in a report on Tuesday, January 24th. They issued a “neutral” rating and a $124.00 price target for the company. Cantor Fitzgerald reduced their price target on shares of Zscaler from $160.00 to $140.00 in a report on Friday, March 3rd. Wedbush cut their price objective on shares of Zscaler from $180.00 to $150.00 in a research report on Friday, March 3rd. Finally, 888 reaffirmed a “maintains” rating on shares of Zscaler in a research report on Tuesday, May 9th. Fourteen investment analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $167.68.

Insider Buying and Selling at Zscaler

In other Zscaler news, insider Robert Schlossman sold 3,645 shares of the stock in a transaction on Thursday, March 16th. The shares were sold at an average price of $106.79, for a total transaction of $389,249.55. Following the transaction, the insider now directly owns 132,553 shares of the company’s stock, valued at $14,155,334.87. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, insider Robert Schlossman sold 3,645 shares of the firm’s stock in a transaction dated Thursday, March 16th. The shares were sold at an average price of $106.79, for a total value of $389,249.55. Following the transaction, the insider now directly owns 132,553 shares of the company’s stock, valued at $14,155,334.87. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Dali Rajic sold 5,638 shares of the firm’s stock in a transaction dated Thursday, March 16th. The stock was sold at an average price of $106.79, for a total transaction of $602,082.02. Following the completion of the transaction, the chief operating officer now directly owns 291,182 shares in the company, valued at $31,095,325.78. The disclosure for this sale can be found here. Insiders have sold a total of 16,412 shares of company stock valued at $1,752,637 over the last ninety days. Corporate insiders own 19.80% of the company’s stock.

Zscaler Company Profile

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Zscaler, Inc engages in the provision of a cloud-based internet security platform. It offers Zero Trust Exchange, Zscaler Client Connector, Zscaler Internet Access, Zscaler Private Access, Zscaler B2B, Zscaler Cloud Protection, and Zscaler Digital Experience. The company was founded by Jagtar Singh Chaudhry and K.