Lake Street Private Wealth LLC Sells 555 Shares of Zscaler, Inc. (NASDAQ:ZS)

Lake Street Private Wealth LLC reduced its holdings in shares of Zscaler, Inc. (NASDAQ:ZS) by 15.7% in the 4th quarter, HoldingsChannel.com reports. The fund owned 2,975 shares of the company’s stock after selling 555 shares during the quarter. Lake Street Private Wealth LLC’s holdings in Zscaler were worth $537,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in the business. Quest Partners LLC acquired a new position in Zscaler in the 2nd quarter valued at about $28,000. Massachusetts Financial Services Co. MA acquired a new position in shares of Zscaler in the second quarter valued at approximately $25,287,000. Dimensional Fund Advisors LP increased its stake in shares of Zscaler by 13.2% during the second quarter. Dimensional Fund Advisors LP now owns 160,828 shares of the company’s stock worth $30,908,000 after purchasing an additional 18,758 shares during the period. Vanguard Personalized Indexing Management LLC lifted its holdings in Zscaler by 7.9% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 6,412 shares of the company’s stock worth $1,230,000 after purchasing an additional 472 shares during the last quarter. Finally, Intech Investment Management LLC grew its holdings in Zscaler by 69.0% in the 2nd quarter. Intech Investment Management LLC now owns 7,910 shares of the company’s stock valued at $1,520,000 after buying an additional 3,230 shares in the last quarter. 46.45% of the stock is owned by institutional investors and hedge funds.

Zscaler Stock Up 0.0 %

Shares of ZS opened at $187.58 on Friday. The business’s fifty day moving average is $196.44 and its 200 day moving average is $188.06. Zscaler, Inc. has a 12-month low of $153.45 and a 12-month high of $259.61. The stock has a market cap of $28.78 billion, a P/E ratio of -750.32 and a beta of 0.87.

Zscaler (NASDAQ:ZS) last released its quarterly earnings data on Monday, December 2nd. The company reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.14. The firm had revenue of $628.00 million for the quarter, compared to analyst estimates of $605.51 million. Zscaler had a negative net margin of 1.58% and a negative return on equity of 0.75%. The business’s quarterly revenue was up 26.4% compared to the same quarter last year. During the same period last year, the firm earned ($0.18) earnings per share. On average, analysts expect that Zscaler, Inc. will post -0.16 EPS for the current year.

Insiders Place Their Bets

In other Zscaler news, CFO Remo Canessa sold 3,703 shares of Zscaler stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $200.32, for a total transaction of $741,784.96. Following the transaction, the chief financial officer now owns 220,635 shares of the company’s stock, valued at $44,197,603.20. This trade represents a 1.65 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jagtar Singh Chaudhry sold 2,863 shares of the company’s stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $200.32, for a total value of $573,516.16. Following the completion of the transaction, the chief executive officer now directly owns 358,569 shares of the company’s stock, valued at approximately $71,828,542.08. This represents a 0.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 10,248 shares of company stock valued at $2,052,879. Corporate insiders own 18.10% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Scotiabank boosted their target price on shares of Zscaler from $195.00 to $205.00 and gave the company a “sector outperform” rating in a research report on Tuesday, December 3rd. Guggenheim restated a “neutral” rating on shares of Zscaler in a research report on Tuesday, December 3rd. JMP Securities reiterated a “market outperform” rating and issued a $240.00 price target (down from $270.00) on shares of Zscaler in a research report on Tuesday, December 3rd. Royal Bank of Canada reissued an “outperform” rating and set a $230.00 price target on shares of Zscaler in a research report on Tuesday, December 3rd. Finally, BTIG Research lifted their price objective on Zscaler from $205.00 to $238.00 and gave the company a “buy” rating in a report on Wednesday, November 27th. Eleven investment analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company. Based on data from MarketBeat, Zscaler presently has a consensus rating of “Moderate Buy” and an average target price of $224.84.

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.