Sterling Investment Advisors Ltd. Cuts Stock Position in Zscaler, Inc. (NASDAQ:ZS)

Sterling Investment Advisors Ltd. decreased its holdings in Zscaler, Inc. (NASDAQ:ZS) by 5.6% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 15,875 shares of the company’s stock after selling 950 shares during the period. Sterling Investment Advisors Ltd.’s holdings in Zscaler were worth $2,714,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in ZS. Quest Partners LLC purchased a new position in shares of Zscaler during the second quarter valued at about $28,000. Asset Dedication LLC increased its stake in Zscaler by 436.8% in the 2nd quarter. Asset Dedication LLC now owns 204 shares of the company’s stock worth $39,000 after acquiring an additional 166 shares during the last quarter. American Capital Advisory LLC bought a new position in shares of Zscaler during the 2nd quarter valued at approximately $50,000. GAMMA Investing LLC increased its position in Zscaler by 21.3% in the second quarter. GAMMA Investing LLC now owns 382 shares of the company’s stock worth $73,000 after purchasing an additional 67 shares during the last quarter. Finally, Quarry LP raised its stake in Zscaler by 613.0% during the second quarter. Quarry LP now owns 385 shares of the company’s stock valued at $74,000 after purchasing an additional 331 shares in the last quarter. Hedge funds and other institutional investors own 46.45% of the company’s stock.

Zscaler Stock Performance

NASDAQ:ZS traded up $1.03 during trading hours on Friday, reaching $184.96. The company’s stock had a trading volume of 927,178 shares, compared to its average volume of 2,074,672. The stock has a 50 day moving average price of $180.90 and a two-hundred day moving average price of $180.70. The company has a market capitalization of $27.96 billion, a P/E ratio of -362.67 and a beta of 0.82. Zscaler, Inc. has a 12 month low of $152.60 and a 12 month high of $259.61.

Zscaler (NASDAQ:ZS) last released its quarterly earnings results on Tuesday, September 3rd. The company reported ($0.05) EPS for the quarter, topping the consensus estimate 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 firm had revenue of $592.90 million during the quarter, compared to analyst estimates of $567.46 million. During the same period in the previous year, the company posted ($0.17) EPS. The business’s revenue for the quarter was up 30.3% compared to the same quarter last year. As a group, analysts predict that Zscaler, Inc. will post -0.95 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Michael J. Rich sold 4,813 shares of the stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $171.28, for a total transaction of $824,370.64. Following the completion of the sale, the insider now owns 103,259 shares in the company, valued at approximately $17,686,201.52. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Zscaler news, CEO Jagtar Singh Chaudhry sold 2,852 shares of the business’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 sale, the chief executive officer now owns 361,432 shares of the company’s stock, valued at approximately $61,906,072.96. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Michael J. Rich sold 4,813 shares of the company’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 $824,370.64. Following the transaction, the insider now owns 103,259 shares in the company, valued at $17,686,201.52. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 30,502 shares of company stock worth $5,256,651 in the last 90 days. 19.20% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

ZS has been the subject of a number of recent research reports. Wells Fargo & Company dropped their price objective on shares of Zscaler from $182.00 to $180.00 and set an “equal weight” rating for the company in a research note on Wednesday, September 4th. Oppenheimer reduced their price objective on Zscaler from $260.00 to $230.00 and set an “outperform” rating on the stock in a research note on Wednesday, September 4th. Needham & Company LLC decreased their price objective on Zscaler from $290.00 to $235.00 and set a “strong-buy” rating on the stock in a research report on Wednesday, September 4th. Barclays dropped their target price on Zscaler from $230.00 to $200.00 and set an “overweight” rating for the company in a report on Wednesday, September 4th. Finally, Robert W. Baird decreased their price target on Zscaler from $260.00 to $225.00 and set an “outperform” rating on the stock in a report on Wednesday, September 4th. Ten analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Zscaler has an average rating of “Moderate Buy” and an average target price of $216.73.

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.