Zscaler, Inc. (NASDAQ:ZS) Stock Holdings Trimmed by Kestra Private Wealth Services LLC

Kestra Private Wealth Services LLC reduced its stake in Zscaler, Inc. (NASDAQ:ZS) by 7.4% in the fourth quarter, HoldingsChannel.com reports. The fund owned 1,906 shares of the company’s stock after selling 153 shares during the quarter. Kestra Private Wealth Services LLC’s holdings in Zscaler were worth $422,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of ZS. Commonwealth Equity Services LLC boosted its stake in Zscaler by 17.0% in the third quarter. Commonwealth Equity Services LLC now owns 39,070 shares of the company’s stock valued at $6,079,000 after acquiring an additional 5,679 shares during the period. Cambridge Investment Research Advisors Inc. boosted its stake in Zscaler by 5.9% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 12,038 shares of the company’s stock valued at $1,873,000 after acquiring an additional 672 shares during the period. Bank of New York Mellon Corp boosted its stake in Zscaler by 1.3% in the third quarter. Bank of New York Mellon Corp now owns 512,094 shares of the company’s stock valued at $79,677,000 after acquiring an additional 6,821 shares during the period. Forsta AP Fonden boosted its stake in Zscaler by 27.7% in the third quarter. Forsta AP Fonden now owns 24,400 shares of the company’s stock valued at $3,796,000 after acquiring an additional 5,300 shares during the period. Finally, BluePath Capital Management LLC acquired a new position in shares of Zscaler during the third quarter worth approximately $32,000. 46.45% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. KeyCorp upgraded Zscaler from a “sector weight” rating to an “overweight” rating and set a $220.00 price objective for the company in a research report on Thursday, April 18th. Rosenblatt Securities boosted their price objective on Zscaler from $285.00 to $290.00 and gave the stock a “buy” rating in a research report on Friday, March 1st. Wedbush boosted their price objective on Zscaler from $250.00 to $260.00 and gave the stock an “outperform” rating in a research report on Friday, March 1st. Robert W. Baird boosted their price objective on Zscaler from $255.00 to $265.00 and gave the stock an “outperform” rating in a research report on Friday, March 1st. Finally, Truist Financial reiterated a “buy” rating and set a $260.00 price objective on shares of Zscaler in a research report on Monday, April 1st. Five analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $230.24.

Insider Activity

In other news, CEO Jagtar Singh Chaudhry sold 2,115 shares of the business’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $193.15, for a total transaction of $408,512.25. Following the transaction, the chief executive officer now directly owns 367,152 shares in the company, valued at approximately $70,915,408.80. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, Director Karen Blasing sold 7,000 shares of the company’s stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $250.90, for a total value of $1,756,300.00. Following the completion of the sale, the director now directly owns 40,372 shares in the company, valued at $10,129,334.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jagtar Singh Chaudhry sold 2,115 shares of the company’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $193.15, for a total transaction of $408,512.25. Following the completion of the sale, the chief executive officer now owns 367,152 shares of the company’s stock, valued at $70,915,408.80. The disclosure for this sale can be found here. Insiders have sold a total of 19,715 shares of company stock worth $4,212,202 in the last ninety days. Corporate insiders own 19.20% of the company’s stock.

Zscaler Price Performance

Shares of NASDAQ:ZS opened at $178.14 on Tuesday. The company’s fifty day moving average is $191.25 and its two-hundred day moving average is $203.91. The company has a quick ratio of 1.98, a current ratio of 1.98 and a debt-to-equity ratio of 1.19. Zscaler, Inc. has a 12-month low of $103.62 and a 12-month high of $259.61. The company has a market cap of $26.70 billion, a P/E ratio of -187.52 and a beta of 0.85.

Zscaler (NASDAQ:ZS) last announced its earnings results on Thursday, February 29th. The company reported ($0.16) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.24) by $0.08. Zscaler had a negative net margin of 7.32% and a negative return on equity of 14.60%. The company had revenue of $525.00 million for the quarter, compared to the consensus estimate of $507.56 million. Equities analysts expect that Zscaler, Inc. will post -0.8 earnings per share 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.