Sequoia Financial Advisors LLC Increases Stock Position in Zscaler, Inc. (NASDAQ:ZS)

Sequoia Financial Advisors LLC grew its stake in shares of Zscaler, Inc. (NASDAQ:ZS) by 5.6% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 45,584 shares of the company’s stock after buying an additional 2,432 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Zscaler were worth $7,792,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in the stock. Quest Partners LLC acquired a new position in shares of Zscaler during the 2nd quarter valued at $28,000. Asset Dedication LLC lifted its holdings in shares of Zscaler by 436.8% during the 2nd quarter. Asset Dedication LLC now owns 204 shares of the company’s stock valued at $39,000 after acquiring an additional 166 shares in the last quarter. American Capital Advisory LLC acquired a new position in shares of Zscaler during the 2nd quarter valued at $50,000. GAMMA Investing LLC lifted its holdings in shares of Zscaler by 103.2% during the 1st quarter. GAMMA Investing LLC now owns 315 shares of the company’s stock valued at $61,000 after acquiring an additional 160 shares in the last quarter. Finally, Quarry LP lifted its holdings in shares of Zscaler by 613.0% during the 2nd 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 owned by hedge funds and other institutional investors.

Insider Transactions at Zscaler

In other news, Director Andrew William Fraser Brown sold 8,000 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $174.10, for a total value of $1,392,800.00. Following the completion of the sale, the director now directly owns 25,907 shares of the company’s stock, valued at approximately $4,510,408.70. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CFO Remo Canessa sold 8,455 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 $1,448,172.40. Following the completion of the sale, the chief financial officer now directly owns 231,793 shares of the company’s stock, valued at $39,701,505.04. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Andrew William Fraser Brown sold 8,000 shares of the stock in a transaction that occurred on Monday, September 23rd. The shares were 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 of the company’s stock, valued at approximately $4,510,408.70. This represents a 0.00 % 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. Company insiders own 19.20% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Piper Sandler reduced their target price on shares of Zscaler from $255.00 to $215.00 and set an “overweight” rating on the stock in a report on Wednesday, September 4th. Wells Fargo & Company cut their price objective on shares of Zscaler from $182.00 to $180.00 and set an “equal weight” rating on the stock in a 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 on the stock in a report on Wednesday, September 4th. Morgan Stanley boosted their price objective on shares of Zscaler from $202.00 to $215.00 and gave the stock an “equal weight” rating in a report on Monday, August 26th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $230.00 price objective on shares of Zscaler in a report on Wednesday, September 4th. Ten analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $216.73.

Zscaler Trading Down 1.0 %

NASDAQ ZS opened at $186.16 on Wednesday. Zscaler, Inc. has a 52 week low of $152.60 and a 52 week high of $259.61. The stock has a market cap of $28.14 billion, a price-to-earnings ratio of -365.02 and a beta of 0.82. The company has a 50-day moving average price of $181.09 and a two-hundred day moving average price of $180.70.

Zscaler (NASDAQ:ZS) last posted its earnings results on Tuesday, September 3rd. The company reported ($0.05) 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 firm had revenue of $592.90 million during the quarter, compared to analysts’ expectations of $567.46 million. During the same quarter in the prior year, the firm earned ($0.17) EPS. Zscaler’s quarterly revenue was up 30.3% on a year-over-year basis. As a group, equities research analysts expect that Zscaler, Inc. will post -0.95 earnings per share for the current fiscal 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.