Essex Investment Management Co. LLC Cuts Stake in Zscaler, Inc. (NASDAQ:ZS)

by · The Markets Daily

Essex Investment Management Co. LLC lessened its holdings in Zscaler, Inc. (NASDAQ:ZS – Free Report) by 4.4% during the third quarter, Holdings Channel.com reports. The firm owned 19,629 shares of the company’s stock after selling 898 shares during the quarter. Essex Investment Management Co. LLC’s holdings in Zscaler were worth $3,355,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Quest Partners LLC bought a new stake in Zscaler in the 2nd quarter worth $28,000. Asset Dedication LLC grew its stake in shares of Zscaler by 436.8% in the second quarter. Asset Dedication LLC now owns 204 shares of the company’s stock worth $39,000 after purchasing an additional 166 shares during the last quarter. American Capital Advisory LLC purchased a new position in Zscaler during the 2nd quarter valued at about $50,000. GAMMA Investing LLC raised its position in Zscaler by 103.2% during the 1st quarter. GAMMA Investing LLC now owns 315 shares of the company’s stock valued at $61,000 after purchasing an additional 160 shares during the last quarter. Finally, Sanders Morris Harris LLC purchased a new stake in Zscaler in the 1st quarter worth approximately $67,000. 46.45% of the stock is owned by institutional investors.

Analysts Set New Price Targets

ZS has been the subject of a number of recent analyst reports. BTIG Research decreased their target price on Zscaler from $220.00 to $205.00 and set a “buy” rating for the company in a report on Wednesday, September 4th. JMP Securities reaffirmed a “market outperform” rating and set a $270.00 target price on shares of Zscaler in a research note on Wednesday, September 4th. Rosenblatt Securities reissued a “neutral” rating and issued a $190.00 price target on shares of Zscaler in a research note on Wednesday, September 4th. Wedbush cut their price objective on Zscaler from $260.00 to $220.00 and set an “outperform” rating on the stock in a research report on Wednesday, September 4th. Finally, Wells Fargo & Company decreased their target price on Zscaler from $182.00 to $180.00 and set an “equal weight” rating for the company in a research report on Wednesday, September 4th. Ten analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $216.97.

View Our Latest Report on Zscaler

Insider Activity

In other news, insider Robert Schlossman sold 4,947 shares of Zscaler stock in a transaction on Monday, September 30th. The shares were sold at an average price of $170.22, for a total transaction of $842,078.34. Following the transaction, the insider now owns 107,241 shares in the company, valued at $18,254,563.02. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, insider Michael J. Rich sold 4,813 shares of the 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 $824,370.64. Following the completion of the sale, the insider now directly owns 103,259 shares of the company’s stock, valued at approximately $17,686,201.52. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Robert Schlossman sold 4,947 shares of Zscaler stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $170.22, for a total transaction of $842,078.34. Following the transaction, the insider now directly owns 107,241 shares in the company, valued at $18,254,563.02. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 30,502 shares of company stock valued at $5,256,651 in the last quarter. 19.20% of the stock is currently owned by insiders.

Zscaler Trading Up 1.4 %

ZS stock traded up $2.76 on Friday, hitting $198.26. The company had a trading volume of 2,827,689 shares, compared to its average volume of 1,656,354. Zscaler, Inc. has a 12-month low of $152.60 and a 12-month high of $259.61. The stock has a market cap of $29.97 billion, a price-to-earnings ratio of -388.75 and a beta of 0.82. The stock’s 50-day simple moving average is $178.40 and its 200 day simple moving average is $180.68.

Zscaler (NASDAQ:ZS – Get Free Report) last released its quarterly earnings results on Tuesday, September 3rd. The company reported ($0.05) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.09. The firm had revenue of $592.90 million for 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%. The company’s revenue for the quarter was up 30.3% on a year-over-year basis. During the same period last year, the business posted ($0.17) EPS. Research analysts forecast that Zscaler, Inc. will post -0.95 earnings per share for the current year.

Zscaler Company Profile

(Free Report)

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.

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