Nwam LLC Increases Stock Holdings in Zscaler, Inc. (NASDAQ:ZS)

Nwam LLC boosted its stake in shares of Zscaler, Inc. (NASDAQ:ZS) by 19.5% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 2,308 shares of the company’s stock after acquiring an additional 377 shares during the period. Nwam LLC’s holdings in Zscaler were worth $395,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Quest Partners LLC acquired a new position in Zscaler in the 2nd quarter valued at $28,000. Asset Dedication LLC raised its position 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 last quarter. American Capital Advisory LLC acquired a new position in Zscaler during the second quarter worth about $50,000. GAMMA Investing LLC boosted its position in Zscaler by 21.3% during the second quarter. GAMMA Investing LLC now owns 382 shares of the company’s stock worth $73,000 after acquiring an additional 67 shares during the last quarter. Finally, Quarry LP raised its holdings in Zscaler by 613.0% in the 2nd quarter. Quarry LP now owns 385 shares of the company’s stock valued at $74,000 after acquiring an additional 331 shares during the last quarter. 46.45% of the stock is owned by hedge funds and other institutional investors.

Zscaler Trading Up 1.8 %

Shares of NASDAQ ZS opened at $210.96 on Monday. The business’s fifty day simple moving average is $186.49 and its 200-day simple moving average is $183.69. Zscaler, Inc. has a 12-month low of $153.45 and a 12-month high of $259.61.

Zscaler (NASDAQ:ZS) last posted its quarterly earnings results on Tuesday, September 3rd. The company reported ($0.05) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company had revenue of $592.90 million for the quarter, compared to analyst estimates of $567.46 million. During the same quarter last year, the company earned ($0.17) EPS. Zscaler’s revenue for the quarter was up 30.3% compared to the same quarter last year. On average, research analysts forecast that Zscaler, Inc. will post -0.95 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Robert Schlossman sold 1,435 shares of the company’s stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $181.70, for a total value of $260,739.50. Following the completion of the transaction, the insider now directly owns 105,806 shares of the company’s stock, valued at $19,224,950.20. This represents a 1.34 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Jagtar Singh Chaudhry sold 2,852 shares of the 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 completion of the transaction, the chief executive officer now owns 361,432 shares in the company, valued at $61,906,072.96. This represents a 0.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 30,502 shares of company stock worth $5,256,651 in the last 90 days. Corporate insiders own 19.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. Morgan Stanley upped their price target on Zscaler from $202.00 to $215.00 and gave the company an “equal weight” rating in a research report on Monday, August 26th. Wedbush cut their target price on Zscaler from $260.00 to $220.00 and set an “outperform” rating for the company in a research note on Wednesday, September 4th. Scotiabank lowered their price target on shares of Zscaler from $210.00 to $195.00 and set a “sector outperform” rating on the stock in a research report on Wednesday, September 4th. Loop Capital cut their price objective on shares of Zscaler from $180.00 to $165.00 and set a “hold” rating for the company in a research report on Wednesday, September 4th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Zscaler from $230.00 to $220.00 and set an “overweight” 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 issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $218.55.

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.