Zscaler, Inc. (NASDAQ:ZS) Position Lowered by Shikiar Asset Management Inc.

Shikiar Asset Management Inc. decreased its stake in shares of Zscaler, Inc. (NASDAQ:ZS) by 26.3% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 8,945 shares of the company’s stock after selling 3,190 shares during the period. Zscaler comprises about 0.6% of Shikiar Asset Management Inc.’s investment portfolio, making the stock its 29th biggest holding. Shikiar Asset Management Inc.’s holdings in Zscaler were worth $1,982,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Vanguard Group Inc. raised its holdings in shares of Zscaler by 1.5% during the third quarter. Vanguard Group Inc. now owns 8,636,864 shares of the company’s stock valued at $1,343,810,000 after buying an additional 129,090 shares during the last quarter. First Trust Advisors LP increased its stake in shares of Zscaler by 4.7% during the first quarter. First Trust Advisors LP now owns 1,862,369 shares of the company’s stock valued at $217,581,000 after acquiring an additional 84,440 shares during the period. Geode Capital Management LLC increased its stake in shares of Zscaler by 3.5% during the first quarter. Geode Capital Management LLC now owns 1,241,626 shares of the company’s stock valued at $144,855,000 after acquiring an additional 42,565 shares during the period. Renaissance Technologies LLC increased its stake in shares of Zscaler by 40.7% during the first quarter. Renaissance Technologies LLC now owns 1,219,700 shares of the company’s stock valued at $142,498,000 after acquiring an additional 353,112 shares during the period. Finally, Whale Rock Capital Management LLC increased its stake in shares of Zscaler by 71.4% during the second quarter. Whale Rock Capital Management LLC now owns 776,972 shares of the company’s stock valued at $113,671,000 after acquiring an additional 323,719 shares during the period. Institutional investors own 46.45% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on ZS. Macquarie restated an “outperform” rating and issued a $245.00 price target on shares of Zscaler in a research report on Tuesday, March 19th. Citigroup lifted their price target on shares of Zscaler from $235.00 to $265.00 and gave the stock a “buy” rating in a research report on Wednesday, January 10th. The Goldman Sachs Group lifted their price target on shares of Zscaler from $189.00 to $215.00 and gave the stock a “neutral” rating in a research report on Monday, March 4th. Barclays lowered their price objective on shares of Zscaler from $259.00 to $240.00 and set an “overweight” rating on the stock in a research report on Friday, March 1st. Finally, Robert W. Baird lifted their price objective on shares of Zscaler from $255.00 to $265.00 and gave the stock an “outperform” rating in a research report on Friday, March 1st. Five research analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Zscaler presently has an average rating of “Moderate Buy” and a consensus target price of $230.24.

Insider Buying and Selling

In other Zscaler news, Director Karen Blasing sold 7,000 shares of Zscaler stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $250.90, for a total value of $1,756,300.00. Following the completion of the transaction, the director now owns 40,372 shares in the company, valued at approximately $10,129,334.80. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Zscaler news, Director Karen Blasing sold 7,000 shares of Zscaler stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $250.90, for a total value of $1,756,300.00. Following the completion of the transaction, the director now owns 40,372 shares in the company, valued at approximately $10,129,334.80. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Jagtar Singh Chaudhry sold 2,115 shares of Zscaler stock in a transaction on Monday, March 18th. The shares were sold at an average price of $193.15, for a total value of $408,512.25. Following the completion of the transaction, the chief executive officer now owns 367,152 shares of the company’s stock, valued at approximately $70,915,408.80. The disclosure for this sale can be found here. Insiders sold 26,715 shares of company stock worth $5,865,882 in the last 90 days. 19.20% of the stock is owned by company insiders.

Zscaler Stock Performance

Shares of NASDAQ:ZS traded down $3.76 during trading on Friday, hitting $169.21. 2,285,496 shares of the stock were exchanged, compared to its average volume of 1,483,631. Zscaler, Inc. has a 1-year low of $84.93 and a 1-year high of $259.61. The company has a market capitalization of $25.36 billion, a price-to-earnings ratio of -178.12 and a beta of 0.80. The company’s fifty day simple moving average is $206.08 and its 200-day simple moving average is $203.02. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.98 and a current ratio of 1.98.

Zscaler (NASDAQ:ZS) last posted its earnings results on Thursday, February 29th. The company reported ($0.16) EPS for the quarter, topping the consensus estimate of ($0.24) by $0.08. The business had revenue of $525.00 million during the quarter, compared to the consensus estimate of $507.56 million. Zscaler had a negative return on equity of 14.60% and a negative net margin of 7.32%. Sell-side analysts expect that Zscaler, Inc. will post -0.81 EPS for the current fiscal year.

About Zscaler

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.