TCI Wealth Advisors Inc. Decreases Holdings in Zscaler, Inc. (NASDAQ:ZS)

TCI Wealth Advisors Inc. cut its stake in shares of Zscaler, Inc. (NASDAQ:ZS) by 11.3% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,941 shares of the company’s stock after selling 500 shares during the period. TCI Wealth Advisors Inc.’s holdings in Zscaler were worth $674,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of ZS. Quest Partners LLC acquired a new position in Zscaler during the 2nd quarter worth approximately $28,000. Asset Dedication LLC lifted its holdings in shares of Zscaler by 436.8% in the second quarter. Asset Dedication LLC now owns 204 shares of the company’s stock valued at $39,000 after buying an additional 166 shares during the period. American Capital Advisory LLC acquired a new position in Zscaler during the second quarter valued at $50,000. GAMMA Investing LLC grew its stake in Zscaler by 21.3% in the second quarter. GAMMA Investing LLC now owns 382 shares of the company’s stock valued at $73,000 after purchasing an additional 67 shares in the last quarter. Finally, Quarry LP boosted its stake in Zscaler by 613.0% during the 2nd quarter. Quarry LP now owns 385 shares of the company’s stock valued at $74,000 after purchasing an additional 331 shares during the period. 46.45% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Zscaler

In other news, insider Michael J. Rich sold 4,813 shares of the business’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $171.28, for a total value of $824,370.64. Following the completion of the sale, the insider now directly owns 103,259 shares in the company, valued at approximately $17,686,201.52. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Jagtar Singh Chaudhry sold 2,852 shares of the company’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $171.28, for a total transaction of $488,490.56. Following the transaction, the chief executive officer now directly 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Michael J. Rich sold 4,813 shares of the business’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $171.28, for a total value of $824,370.64. Following the completion of the transaction, the insider now owns 103,259 shares in the company, valued at $17,686,201.52. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 30,502 shares of company stock worth $5,256,651. 19.20% of the stock is currently owned by company insiders.

Zscaler Stock Up 1.1 %

ZS traded up $2.04 on Monday, reaching $187.00. The company’s stock had a trading volume of 243,794 shares, compared to its average volume of 2,065,878. The stock has a 50 day moving average of $180.90 and a two-hundred day moving average of $180.68. The company has a market capitalization of $28.52 billion, a price-to-earnings ratio of -469.69 and a beta of 0.82. Zscaler, Inc. has a fifty-two week low of $152.60 and a fifty-two week high of $259.61.

Zscaler (NASDAQ:ZS) last issued its quarterly earnings results 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. 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 the consensus estimate of $567.46 million. During the same period last year, the company earned ($0.17) earnings per share. The company’s revenue for the quarter was up 30.3% on a year-over-year basis. As a group, analysts anticipate that Zscaler, Inc. will post -0.95 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages recently commented on ZS. JMP Securities reaffirmed a “market outperform” rating and set a $270.00 price objective on shares of Zscaler in a research note on Wednesday, September 4th. BTIG Research cut their target price on Zscaler from $220.00 to $205.00 and set a “buy” rating for the company in a research note on Wednesday, September 4th. Scotiabank lowered their target price on Zscaler from $210.00 to $195.00 and set a “sector outperform” rating for the company in a research report on Wednesday, September 4th. Bank of America downgraded Zscaler from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $265.00 to $195.00 in a report on Wednesday, September 4th. Finally, Citigroup reduced their target price on Zscaler from $240.00 to $230.00 and set a “buy” rating for the company in a research note on Friday, October 4th. Ten equities research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus 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.