Firsthand Capital Management Inc. Sells 6,800 Shares of Zscaler, Inc. (NASDAQ:ZS)

Firsthand Capital Management Inc. cut its holdings in shares of Zscaler, Inc. (NASDAQ:ZS) by 25.4% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 20,000 shares of the company’s stock after selling 6,800 shares during the quarter. Zscaler accounts for about 6.7% of Firsthand Capital Management Inc.’s investment portfolio, making the stock its 4th largest holding. Firsthand Capital Management Inc.’s holdings in Zscaler were worth $3,419,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Champlain Investment Partners LLC increased its stake in shares of Zscaler by 28.2% in the third quarter. Champlain Investment Partners LLC now owns 1,289,350 shares of the company’s stock worth $220,401,000 after acquiring an additional 283,540 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of Zscaler by 5.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 496,047 shares of the company’s stock worth $95,335,000 after purchasing an additional 25,181 shares in the last quarter. Westfield Capital Management Co. LP lifted its holdings in shares of Zscaler by 33.8% during the 3rd quarter. Westfield Capital Management Co. LP now owns 399,516 shares of the company’s stock valued at $68,293,000 after buying an additional 100,814 shares during the last quarter. Federated Hermes Inc. grew its stake in shares of Zscaler by 18.3% in the 2nd quarter. Federated Hermes Inc. now owns 394,698 shares of the company’s stock valued at $75,857,000 after buying an additional 61,037 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in Zscaler by 4.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 355,070 shares of the company’s stock worth $60,696,000 after buying an additional 16,634 shares during the last quarter. Hedge funds and other institutional investors own 46.45% of the company’s stock.

Zscaler Stock Up 0.8 %

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 stock has a 50-day simple moving average of $189.44 and a 200 day simple moving average of $184.50. The stock has a market capitalization of $31.70 billion, a price-to-earnings ratio of -516.46 and a beta of 0.82.

Zscaler (NASDAQ:ZS) last posted 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 net margin of 2.66% and a negative return on equity of 3.46%. Zscaler’s revenue was up 30.3% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.17) EPS. As a group, sell-side analysts anticipate that Zscaler, Inc. will post -0.95 EPS for the current year.

Insider Transactions at Zscaler

In other Zscaler news, insider Michael J. Rich sold 4,813 shares of the stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $171.28, for a total value of $824,370.64. Following the sale, the insider now directly owns 103,259 shares in the company, valued at approximately $17,686,201.52. This trade represents a 4.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Andrew William Fraser Brown sold 8,000 shares of the business’s stock in a transaction 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 completion of the transaction, the director now directly owns 25,907 shares of the company’s stock, valued at $4,510,408.70. This trade represents a 23.59 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 30,502 shares of company stock worth $5,256,651 in the last quarter. 19.20% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

ZS has been the topic of several analyst reports. JMP Securities restated a “market outperform” rating and set a $270.00 target price on shares of Zscaler in a report on Monday, November 4th. BNP Paribas began coverage on Zscaler in a research note on Tuesday, October 8th. They issued a “neutral” rating and a $180.00 price objective on the stock. Wells Fargo & Company lowered their price target on Zscaler from $182.00 to $180.00 and set an “equal weight” 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 research note on Monday, August 26th. Finally, Barclays raised their target price on shares of Zscaler from $200.00 to $220.00 and gave the company an “overweight” rating in a research note on Thursday, November 21st. Ten investment analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $221.13.

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.