Allspring Global Investments Holdings LLC Cuts Holdings in Zscaler, Inc. (NASDAQ:ZS)

Allspring Global Investments Holdings LLC decreased its stake in shares of Zscaler, Inc. (NASDAQ:ZS) by 99.8% during the 3rd quarter, Holdings Channel.com reports. The firm owned 199 shares of the company’s stock after selling 126,617 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Zscaler were worth $34,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of ZS. EverSource Wealth Advisors LLC increased its holdings in shares of Zscaler by 8.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 832 shares of the company’s stock valued at $149,000 after acquiring an additional 66 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of Zscaler by 21.3% in the 2nd quarter. GAMMA Investing LLC now owns 382 shares of the company’s stock valued at $73,000 after acquiring an additional 67 shares during the last quarter. American Trust increased its holdings in shares of Zscaler by 6.1% in the 2nd quarter. American Trust now owns 1,210 shares of the company’s stock valued at $233,000 after acquiring an additional 70 shares during the last quarter. Swedbank AB increased its holdings in shares of Zscaler by 0.8% in the 2nd quarter. Swedbank AB now owns 9,036 shares of the company’s stock valued at $1,737,000 after acquiring an additional 76 shares during the last quarter. Finally, Rockline Wealth Management LLC increased its holdings in shares of Zscaler by 5.1% in the 2nd quarter. Rockline Wealth Management LLC now owns 1,798 shares of the company’s stock valued at $345,000 after acquiring an additional 88 shares during the last quarter. Hedge funds and other institutional investors own 46.45% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Oppenheimer dropped their price objective on Zscaler from $260.00 to $230.00 and set an “outperform” rating on the stock in a report on Wednesday, September 4th. Citigroup decreased their target price on Zscaler from $240.00 to $230.00 and set a “buy” rating for the company in a research report on Friday, October 4th. Bank of America cut Zscaler from a “buy” rating to a “neutral” rating and decreased their target price for the company from $265.00 to $195.00 in a research report on Wednesday, September 4th. BTIG Research decreased their target price on Zscaler from $220.00 to $205.00 and set a “buy” rating for the company in a research report on Wednesday, September 4th. Finally, Morgan Stanley upped their target price on Zscaler from $202.00 to $215.00 and gave the company an “equal weight” rating in a research report on Monday, August 26th. Ten investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $216.73.

Insiders Place Their Bets

In other Zscaler news, insider Robert Schlossman sold 1,435 shares of the firm’s stock in a transaction 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 completion of the transaction, the insider now owns 105,806 shares of the company’s stock, valued at approximately $19,224,950.20. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, CEO Jagtar Singh Chaudhry sold 2,852 shares of the company’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $171.28, for a total value of $488,490.56. Following the completion of the transaction, the chief executive officer now directly owns 361,432 shares in the company, valued at approximately $61,906,072.96. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Robert Schlossman sold 1,435 shares of the company’s stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $181.70, for a total value of $260,739.50. Following the completion of the transaction, the insider now owns 105,806 shares of the company’s stock, 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. Over the last 90 days, insiders sold 30,502 shares of company stock valued at $5,256,651. Corporate insiders own 19.20% of the company’s stock.

Zscaler Price Performance

NASDAQ ZS opened at $186.91 on Wednesday. Zscaler, Inc. has a 1-year low of $153.45 and a 1-year high of $259.61. The company has a market capitalization of $28.50 billion, a P/E ratio of -464.30 and a beta of 0.82. The business has a 50 day moving average price of $179.37 and a 200 day moving average price of $181.04.

Zscaler (NASDAQ:ZS) last released its quarterly earnings data on Tuesday, September 3rd. The company reported ($0.05) earnings per share for the quarter, beating the consensus estimate 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 quarterly revenue was up 30.3% on a year-over-year basis. During the same period last year, the business posted ($0.17) EPS. On average, research analysts expect that Zscaler, Inc. will post -0.95 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.