Flagship Harbor Advisors LLC Sells 1,009 Shares of Zscaler, Inc. (NASDAQ:ZS)

Flagship Harbor Advisors LLC lowered its holdings in Zscaler, Inc. (NASDAQ:ZS) by 22.9% during the 4th quarter, HoldingsChannel.com reports. The firm owned 3,401 shares of the company’s stock after selling 1,009 shares during the quarter. Flagship Harbor Advisors LLC’s holdings in Zscaler were worth $614,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of the business. Champlain Investment Partners LLC raised its holdings in Zscaler by 28.2% during the 3rd quarter. Champlain Investment Partners LLC now owns 1,289,350 shares of the company’s stock valued at $220,401,000 after acquiring an additional 283,540 shares during the period. International Assets Investment Management LLC grew its position in shares of Zscaler by 13,498.6% in the third quarter. International Assets Investment Management LLC now owns 285,299 shares of the company’s stock valued at $48,769,000 after purchasing an additional 283,201 shares in the last quarter. GuoLine Advisory Pte Ltd bought a new stake in shares of Zscaler during the 3rd quarter valued at $32,660,000. Westfield Capital Management Co. LP lifted its holdings in Zscaler by 33.8% during the 3rd quarter. Westfield Capital Management Co. LP now owns 399,516 shares of the company’s stock worth $68,293,000 after purchasing an additional 100,814 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its stake in Zscaler by 59.7% in the 4th quarter. Assenagon Asset Management S.A. now owns 190,794 shares of the company’s stock worth $34,421,000 after purchasing an additional 71,297 shares during the period. 46.45% of the stock is currently owned by hedge funds and other institutional investors.

Zscaler Stock Performance

NASDAQ ZS opened at $191.24 on Tuesday. Zscaler, Inc. has a fifty-two week low of $153.45 and a fifty-two week high of $259.61. The stock has a market cap of $29.34 billion, a P/E ratio of -764.96 and a beta of 0.87. The stock has a 50 day simple moving average of $194.81 and a two-hundred day simple moving average of $187.69.

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

Insider Buying and Selling

In other Zscaler news, insider Syam Nair sold 3,682 shares of the firm’s stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $200.32, for a total transaction of $737,578.24. Following the completion of 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 filing with the SEC, which can be accessed through this link. 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 completion of the transaction, the chief financial officer now owns 220,635 shares of the company’s stock, valued at approximately $44,197,603.20. The trade was a 1.65 % decrease in their ownership of the stock. 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 over the last three months. Corporate insiders own 18.10% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on ZS shares. Stifel Nicolaus increased their price target on shares of Zscaler from $220.00 to $235.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. BNP Paribas initiated coverage on shares of Zscaler in a report on Tuesday, October 8th. They issued a “neutral” rating and a $180.00 price target for the company. BTIG Research upped their price target on shares of Zscaler from $205.00 to $238.00 and gave the stock a “buy” rating in a report on Wednesday, November 27th. Loop Capital dropped their price objective on Zscaler from $200.00 to $195.00 and set a “hold” rating for the company in a research note on Tuesday, December 3rd. Finally, Scotiabank boosted their target price on Zscaler from $205.00 to $225.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, January 21st. Eleven equities research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $225.47.

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.