Zscaler, Inc. (NASDAQ:ZS) Position Cut by Arthur M. Cohen & Associates LLC

Arthur M. Cohen & Associates LLC lowered its holdings in shares of Zscaler, Inc. (NASDAQ:ZS) by 57.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,900 shares of the company’s stock after selling 3,951 shares during the period. Arthur M. Cohen & Associates LLC’s holdings in Zscaler were worth $505,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the business. Quest Partners LLC bought a new position in shares of Zscaler in the second quarter valued at approximately $28,000. Prestige Wealth Management Group LLC acquired a new stake in Zscaler in the third quarter worth approximately $31,000. True Wealth Design LLC boosted its stake in Zscaler by 18,500.0% during the 3rd quarter. True Wealth Design LLC now owns 186 shares of the company’s stock valued at $32,000 after purchasing an additional 185 shares in the last quarter. Versant Capital Management Inc increased its position in shares of Zscaler by 136.8% during the 4th quarter. Versant Capital Management Inc now owns 180 shares of the company’s stock valued at $32,000 after purchasing an additional 104 shares during the period. Finally, Modus Advisors LLC bought a new stake in shares of Zscaler in the 4th quarter worth $36,000. Institutional investors and hedge funds own 46.45% of the company’s stock.

Analysts Set New Price Targets

ZS has been the subject of a number of research reports. Wells Fargo & Company raised their target price on shares of Zscaler from $180.00 to $190.00 and gave the stock an “equal weight” rating in a report on Wednesday, December 4th. JPMorgan Chase & Co. increased their price target on Zscaler from $220.00 to $240.00 and gave the company an “overweight” rating in a research report on Friday, November 29th. Oppenheimer lifted their price target on Zscaler from $230.00 to $250.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 3rd. Morgan Stanley reduced their price objective on shares of Zscaler from $215.00 to $205.00 and set an “equal weight” rating for the company in a research note on Tuesday, December 3rd. Finally, BMO Capital Markets lifted their target price on shares of Zscaler from $197.00 to $222.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 3rd. Eleven analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $224.84.

Zscaler Stock Performance

Shares of ZS stock opened at $187.58 on Friday. The firm has a fifty day moving average of $196.44 and a 200-day moving average of $188.12. Zscaler, Inc. has a 52-week low of $153.45 and a 52-week high of $259.61.

Zscaler (NASDAQ:ZS) last posted its earnings results on Monday, December 2nd. The company reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.14. The company had revenue of $628.00 million during the quarter, compared to analysts’ expectations of $605.51 million. Zscaler had a negative net margin of 1.58% and a negative return on equity of 0.75%. Zscaler’s quarterly revenue was up 26.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.18) earnings per share. Sell-side analysts expect that Zscaler, Inc. will post -0.16 earnings per share for the current year.

Insider Activity at Zscaler

In other news, insider Syam Nair sold 3,682 shares of the stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $200.32, for a total value of $737,578.24. Following the transaction, the insider now owns 142,866 shares of the company’s stock, valued at $28,618,917.12. This represents a 2.51 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Remo Canessa sold 3,703 shares of the company’s stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $200.32, for a total value of $741,784.96. Following the completion of the sale, the chief financial officer now owns 220,635 shares of the company’s stock, valued at $44,197,603.20. This represents a 1.65 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 10,248 shares of company stock worth $2,052,879 over the last 90 days. Insiders own 18.10% of the company’s stock.

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.