Firsthand Capital Management Inc. Has $3.42 Million Stake in Zscaler, Inc. (NASDAQ:ZS)

Firsthand Capital Management Inc. lessened its position in Zscaler, Inc. (NASDAQ:ZS) by 25.4% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 20,000 shares of the company’s stock after selling 6,800 shares during the quarter. Zscaler makes up about 6.7% of Firsthand Capital Management Inc.’s portfolio, making the stock its 4th biggest position. Firsthand Capital Management Inc.’s holdings in Zscaler were worth $3,419,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of ZS. EverSource Wealth Advisors LLC increased its position in shares of Zscaler by 8.6% in the second quarter. EverSource Wealth Advisors LLC now owns 832 shares of the company’s stock valued at $149,000 after acquiring an additional 66 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of Zscaler by 21.3% during the 2nd quarter. GAMMA Investing LLC now owns 382 shares of the company’s stock worth $73,000 after purchasing an additional 67 shares in the last quarter. American Trust boosted its holdings in shares of Zscaler by 6.1% in the 2nd quarter. American Trust now owns 1,210 shares of the company’s stock valued at $233,000 after buying an additional 70 shares during the last quarter. Valley Brook Capital Group Inc. grew its stake in shares of Zscaler by 4.0% in the third quarter. Valley Brook Capital Group Inc. now owns 1,972 shares of the company’s stock valued at $337,000 after buying an additional 75 shares in the last quarter. Finally, Swedbank AB increased its holdings in Zscaler by 0.8% during the second quarter. Swedbank AB now owns 9,036 shares of the company’s stock worth $1,737,000 after buying an additional 76 shares during the last quarter. Institutional investors and hedge funds own 46.45% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on ZS shares. Morgan Stanley increased their price target on shares of Zscaler from $202.00 to $215.00 and gave the company an “equal weight” rating in a research note on Monday, August 26th. JMP Securities reiterated a “market outperform” rating and set a $270.00 price target on shares of Zscaler in a report on Monday, November 4th. Oppenheimer dropped 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. Rosenblatt Securities reiterated a “neutral” rating and set a $190.00 target price on shares of Zscaler in a research note on Wednesday, September 4th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $230.00 price target on shares of Zscaler in a research note on Wednesday, September 4th. Ten research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Zscaler has a consensus rating of “Moderate Buy” and a consensus target price of $221.13.

Zscaler Stock Up 0.8 %

Shares of Zscaler stock opened at $206.59 on Friday. Zscaler, Inc. has a 12-month low of $153.45 and a 12-month high of $259.61. The company has a market capitalization of $31.70 billion, a price-to-earnings ratio of -516.46 and a beta of 0.82. The firm’s 50-day moving average price is $189.44 and its two-hundred day moving average price is $184.50.

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, topping the consensus estimate of ($0.14) by $0.09. Zscaler had a negative net margin of 2.66% and a negative return on equity of 3.46%. The business had revenue of $592.90 million for the quarter, compared to analyst estimates of $567.46 million. During the same quarter last year, the business posted ($0.17) EPS. The firm’s revenue for the quarter was up 30.3% on a year-over-year basis. On average, sell-side analysts expect that Zscaler, Inc. will post -0.95 earnings per share for the current year.

Insider Activity

In other Zscaler news, CEO Jagtar Singh Chaudhry sold 2,852 shares of the firm’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 value of $488,490.56. Following the sale, the chief executive officer now owns 361,432 shares in the company, valued at $61,906,072.96. This trade represents a 0.78 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Andrew William Fraser Brown sold 8,000 shares of the business’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $174.10, for a total transaction of $1,392,800.00. Following the sale, the director now directly owns 25,907 shares in the company, valued at approximately $4,510,408.70. The trade was a 23.59 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 30,502 shares of company stock worth $5,256,651. Insiders own 19.20% of the company’s stock.

Zscaler Company 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.