Larson Financial Group LLC Increases Holdings in Zscaler, Inc. (NASDAQ:ZS)

Larson Financial Group LLC lifted its position in shares of Zscaler, Inc. (NASDAQ:ZS) by 765.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 831 shares of the company’s stock after acquiring an additional 735 shares during the quarter. Larson Financial Group LLC’s holdings in Zscaler were worth $142,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. EverSource Wealth Advisors LLC lifted its stake in 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 buying an additional 66 shares in the last quarter. GAMMA Investing LLC raised its holdings in 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 raised its holdings in 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. Valley Brook Capital Group Inc. raised its holdings in Zscaler by 4.0% in the 3rd quarter. Valley Brook Capital Group Inc. now owns 1,972 shares of the company’s stock valued at $337,000 after acquiring an additional 75 shares during the last quarter. Finally, Swedbank AB raised its holdings in 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. Hedge funds and other institutional investors own 46.45% of the company’s stock.

Insider Buying and Selling

In other Zscaler news, CFO Remo Canessa sold 8,455 shares of the firm’s 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 $1,448,172.40. Following the sale, the chief financial officer now owns 231,793 shares in the company, valued at approximately $39,701,505.04. This trade represents a 3.52 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jagtar Singh Chaudhry sold 2,852 shares of the firm’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $171.28, for a total transaction of $488,490.56. Following the completion of the sale, the chief executive officer now owns 361,432 shares in the company, valued at $61,906,072.96. The trade was a 0.78 % 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 worth $5,256,651 over the last quarter. 19.20% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on ZS shares. JPMorgan Chase & Co. cut their price target on Zscaler from $230.00 to $220.00 and set an “overweight” rating for the company in a report on Wednesday, September 4th. KeyCorp upped their price objective on Zscaler from $220.00 to $245.00 and gave the stock an “overweight” rating in a report on Friday, November 22nd. Bank of America downgraded Zscaler from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $265.00 to $195.00 in a report on Wednesday, September 4th. Loop Capital dropped their price objective on Zscaler from $180.00 to $165.00 and set a “hold” rating for the company in a report on Wednesday, September 4th. Finally, Wells Fargo & Company lowered their price target on Zscaler from $182.00 to $180.00 and set an “equal weight” rating for the company in a report on Wednesday, September 4th. Ten analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $220.48.

Zscaler Stock Performance

Shares of ZS stock opened at $204.96 on Friday. Zscaler, Inc. has a one year low of $153.45 and a one year high of $259.61. The company’s 50-day simple moving average is $188.79 and its 200-day simple moving average is $184.36. The stock has a market capitalization of $31.45 billion, a price-to-earnings ratio of -512.39 and a beta of 0.82.

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