GraniteShares Advisors LLC Trims Stake in Zscaler, Inc. (NASDAQ:ZS)

GraniteShares Advisors LLC lowered its stake in Zscaler, Inc. (NASDAQ:ZS) by 18.1% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,624 shares of the company’s stock after selling 580 shares during the quarter. GraniteShares Advisors LLC’s holdings in Zscaler were worth $473,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Bank of New York Mellon Corp lifted its stake in Zscaler by 3.2% in the 4th quarter. Bank of New York Mellon Corp now owns 539,113 shares of the company’s stock valued at $97,261,000 after buying an additional 16,742 shares in the last quarter. IFP Advisors Inc lifted its stake in Zscaler by 13.8% in the 4th quarter. IFP Advisors Inc now owns 1,007 shares of the company’s stock valued at $182,000 after buying an additional 122 shares in the last quarter. RPG Investment Advisory LLC lifted its stake in Zscaler by 2.1% in the 4th quarter. RPG Investment Advisory LLC now owns 46,719 shares of the company’s stock valued at $8,429,000 after buying an additional 956 shares in the last quarter. Y Intercept Hong Kong Ltd purchased a new stake in Zscaler in the 4th quarter valued at approximately $528,000. Finally, Sigma Planning Corp purchased a new stake in Zscaler in the 4th quarter valued at approximately $208,000. Hedge funds and other institutional investors own 46.45% of the company’s stock.

Zscaler Price Performance

NASDAQ:ZS opened at $193.04 on Wednesday. The firm has a 50-day moving average of $195.08 and a two-hundred day moving average of $191.20. The stock has a market cap of $29.62 billion, a P/E ratio of -772.16 and a beta of 0.89. Zscaler, Inc. has a 1-year low of $153.45 and a 1-year high of $251.55.

Zscaler (NASDAQ:ZS) last posted its quarterly earnings data on Monday, December 2nd. The company reported $0.77 earnings per share 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%. The firm’s revenue for the quarter was up 26.4% on a year-over-year basis. During the same period in the prior year, the company posted ($0.18) EPS. As a group, equities analysts expect that Zscaler, Inc. will post -0.1 earnings per share for the current year.

Insider Buying and Selling at Zscaler

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

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on ZS shares. Morgan Stanley cut their price target on Zscaler from $215.00 to $205.00 and set an “equal weight” rating for the company in a report on Tuesday, December 3rd. Wells Fargo & Company boosted their price target on Zscaler from $180.00 to $190.00 and gave the company an “equal weight” rating in a report on Wednesday, December 4th. JMP Securities reiterated a “market outperform” rating and issued a $240.00 price target (down from $270.00) on shares of Zscaler in a report on Tuesday, December 3rd. Royal Bank of Canada reiterated an “outperform” rating and issued a $230.00 price target on shares of Zscaler in a report on Tuesday, December 3rd. Finally, Piper Sandler boosted their price target on Zscaler from $215.00 to $235.00 and gave the company an “overweight” rating in a report on Tuesday, December 3rd. Eleven research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the stock. According to data from MarketBeat, Zscaler has a consensus rating of “Moderate Buy” and an average target price of $226.56.

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.