Prime Capital Investment Advisors LLC Has $223,000 Stock Position in Zscaler, Inc. (NASDAQ:ZS)

Prime Capital Investment Advisors LLC trimmed its position in Zscaler, Inc. (NASDAQ:ZS) by 8.7% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 1,306 shares of the company’s stock after selling 125 shares during the period. Prime Capital Investment Advisors LLC’s holdings in Zscaler were worth $223,000 at the end of the most recent quarter.

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

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Morgan Stanley raised their price objective on shares of Zscaler from $202.00 to $215.00 and gave the company an “equal weight” rating in a research report on Monday, August 26th. JMP Securities reaffirmed a “market outperform” rating and set a $270.00 price objective on shares of Zscaler in a research report on Monday, November 4th. BTIG Research cut their price objective on shares of Zscaler from $220.00 to $205.00 and set a “buy” rating on the stock in a research report on Wednesday, September 4th. Cantor Fitzgerald cut their price objective on shares of Zscaler from $200.00 to $170.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 4th. Finally, BNP Paribas started coverage on shares of Zscaler in a research report on Tuesday, October 8th. They set a “neutral” rating and a $180.00 price objective on the stock. Ten research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $217.18.

Insiders Place Their Bets

In related news, insider Robert Schlossman sold 1,435 shares of the business’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 in the company, valued at approximately $19,224,950.20. The trade was a 1.34 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 value of $488,490.56. Following the completion of the transaction, the chief executive officer now owns 361,432 shares of the company’s stock, 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. In the last three months, insiders sold 30,502 shares of company stock valued at $5,256,651. 19.20% of the stock is currently owned by insiders.

Zscaler Stock Down 3.4 %

Zscaler stock opened at $201.47 on Monday. The stock has a 50-day simple moving average of $182.23 and a 200 day simple moving average of $182.66. Zscaler, Inc. has a 12-month low of $153.45 and a 12-month high of $259.61. The stock has a market capitalization of $30.72 billion, a price-to-earnings ratio of -503.68 and a beta of 0.82.

Zscaler (NASDAQ:ZS) last announced its quarterly earnings data 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. The firm had revenue of $592.90 million during the quarter, compared to analysts’ expectations of $567.46 million. Zscaler had a negative return on equity of 3.46% and a negative net margin of 2.66%. The company’s quarterly revenue was up 30.3% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.17) EPS. As a group, sell-side analysts anticipate that Zscaler, Inc. will post -0.97 EPS for the current year.

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.