Farther Finance Advisors LLC Decreases Stake in Zscaler, Inc. (NASDAQ:ZS)

Farther Finance Advisors LLC lessened its stake in Zscaler, Inc. (NASDAQ:ZS) by 73.6% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 308 shares of the company’s stock after selling 859 shares during the quarter. Farther Finance Advisors LLC’s holdings in Zscaler were worth $53,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently added to or reduced their stakes in ZS. Quest Partners LLC purchased a new stake in Zscaler during the second quarter worth approximately $28,000. Asset Dedication LLC increased its position in Zscaler by 436.8% during the second quarter. Asset Dedication LLC now owns 204 shares of the company’s stock worth $39,000 after buying an additional 166 shares during the period. American Capital Advisory LLC acquired a new position in Zscaler during the second quarter worth approximately $50,000. GAMMA Investing LLC increased its position in Zscaler by 21.3% during the second quarter. GAMMA Investing LLC now owns 382 shares of the company’s stock worth $73,000 after buying an additional 67 shares during the period. Finally, Quarry LP increased 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 buying an additional 331 shares during the period. Hedge funds and other institutional investors own 46.45% of the company’s stock.

Insiders Place Their Bets

In other news, insider Robert Schlossman sold 1,435 shares of the stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $181.70, for a total transaction of $260,739.50. Following the sale, the insider now directly owns 105,806 shares in the company, valued at approximately $19,224,950.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Andrew William Fraser Brown sold 8,000 shares of the stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $174.10, for a total transaction of $1,392,800.00. Following the sale, the director now directly owns 25,907 shares in the company, valued at approximately $4,510,408.70. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Robert Schlossman sold 1,435 shares of the stock in a transaction that occurred 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 in the company, valued at $19,224,950.20. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 30,502 shares of company stock valued at $5,256,651 in the last quarter. Insiders own 19.20% of the company’s stock.

Zscaler Stock Performance

ZS stock opened at $209.85 on Thursday. Zscaler, Inc. has a 1 year low of $153.45 and a 1 year high of $259.61. The firm has a market cap of $32.00 billion, a P/E ratio of -524.63 and a beta of 0.82. The stock has a 50-day simple moving average of $180.42 and a 200-day simple moving average of $182.18.

Zscaler (NASDAQ:ZS) last issued its quarterly earnings results on Tuesday, September 3rd. The company reported ($0.05) EPS for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.09. The firm had revenue of $592.90 million during the quarter, compared to the consensus estimate of $567.46 million. Zscaler had a negative return on equity of 3.46% and a negative net margin of 2.66%. Zscaler’s revenue for the quarter was up 30.3% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.17) earnings per share. On average, equities research analysts predict that Zscaler, Inc. will post -0.95 EPS for the current year.

Wall Street Analysts Forecast Growth

ZS has been the topic of a number of recent research reports. Robert W. Baird dropped their target price on Zscaler from $260.00 to $225.00 and set an “outperform” rating on the stock in a report on Wednesday, September 4th. Needham & Company LLC dropped their target price on Zscaler from $290.00 to $235.00 and set a “strong-buy” rating on the stock in a report on Wednesday, September 4th. JPMorgan Chase & Co. dropped their target price on Zscaler from $230.00 to $220.00 and set an “overweight” rating on the stock in a report on Wednesday, September 4th. Piper Sandler dropped their target price on Zscaler from $255.00 to $215.00 and set an “overweight” rating on the stock in a report on Wednesday, September 4th. Finally, Bank of America lowered Zscaler from a “buy” rating to a “neutral” rating and dropped their target price for the company from $265.00 to $195.00 in a report on Wednesday, September 4th. Ten equities research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $216.73.

Zscaler 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.