Independent Advisor Alliance Sells 5,690 Shares of Zscaler, Inc. (NASDAQ:ZS)

Independent Advisor Alliance trimmed its holdings in shares of Zscaler, Inc. (NASDAQ:ZS) by 72.1% in the third quarter, HoldingsChannel reports. The institutional investor owned 2,206 shares of the company’s stock after selling 5,690 shares during the quarter. Independent Advisor Alliance’s holdings in Zscaler were worth $377,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of ZS. EverSource Wealth Advisors LLC boosted its holdings in Zscaler by 8.6% during the second quarter. EverSource Wealth Advisors LLC now owns 832 shares of the company’s stock worth $149,000 after buying an additional 66 shares during the last quarter. GAMMA Investing LLC boosted its stake in Zscaler by 21.3% during the 2nd quarter. GAMMA Investing LLC now owns 382 shares of the company’s stock worth $73,000 after acquiring an additional 67 shares during the last quarter. American Trust increased its stake in Zscaler by 6.1% in the second quarter. American Trust now owns 1,210 shares of the company’s stock valued at $233,000 after purchasing an additional 70 shares in the last quarter. Valley Brook Capital Group Inc. raised its holdings in Zscaler by 4.0% in the third quarter. Valley Brook Capital Group Inc. now owns 1,972 shares of the company’s stock worth $337,000 after purchasing an additional 75 shares during the period. Finally, Swedbank AB boosted its position in shares of Zscaler by 0.8% during the second quarter. Swedbank AB now owns 9,036 shares of the company’s stock worth $1,737,000 after purchasing an additional 76 shares in the last quarter. 46.45% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Zscaler

In other news, CEO Jagtar Singh Chaudhry sold 2,852 shares of Zscaler 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 $488,490.56. Following the completion of the sale, the chief executive officer now directly owns 361,432 shares in the company, valued at approximately $61,906,072.96. The trade was a 0.78 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 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 directly owns 105,806 shares in the company, valued at $19,224,950.20. This represents a 1.34 % decrease in their position. 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 ninety days. 19.20% of the stock is currently owned by corporate insiders.

Zscaler Price Performance

Shares of ZS opened at $204.96 on Friday. Zscaler, Inc. has a fifty-two week low of $153.45 and a fifty-two week high of $259.61. The firm has a market capitalization of $31.45 billion, a PE ratio of -512.39 and a beta of 0.82. The company’s 50-day moving average is $188.79 and its 200-day moving average is $184.36.

Zscaler (NASDAQ:ZS) last issued its quarterly earnings data 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. Zscaler had a negative return on equity of 3.46% and a negative net margin of 2.66%. The company had revenue of $592.90 million during the quarter, compared to analysts’ expectations of $567.46 million. During the same quarter in the previous year, the company posted ($0.17) earnings per share. The business’s revenue was up 30.3% on a year-over-year basis. Analysts predict that Zscaler, Inc. will post -0.95 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have weighed in on ZS. BTIG Research lifted their target price on Zscaler from $205.00 to $238.00 and gave the stock a “buy” rating in a report on Wednesday. Bank of America lowered shares of Zscaler from a “buy” rating to a “neutral” rating and cut their price target for the company from $265.00 to $195.00 in a research note on Wednesday, September 4th. Loop Capital reduced their target price on shares of Zscaler from $180.00 to $165.00 and set a “hold” rating for the company in a research note on Wednesday, September 4th. Wedbush reduced their price objective on Zscaler from $260.00 to $220.00 and set an “outperform” rating for the company in a research report on Wednesday, September 4th. Finally, Rosenblatt Securities reissued a “neutral” rating and issued a $190.00 target price on shares of Zscaler in a research report on Wednesday, September 4th. Ten investment analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $220.48.

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.