Zscaler, Inc. (NASDAQ:ZS) Shares Sold by Freedom Investment Management Inc.

Freedom Investment Management Inc. cut its stake in Zscaler, Inc. (NASDAQ:ZS) by 7.6% in the third quarter, Holdings Channel reports. The fund owned 3,075 shares of the company’s stock after selling 252 shares during the period. Freedom Investment Management Inc.’s holdings in Zscaler were worth $526,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. EverSource Wealth Advisors LLC increased its position in Zscaler by 8.6% during the second quarter. EverSource Wealth Advisors LLC now owns 832 shares of the company’s stock worth $149,000 after purchasing an additional 66 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of Zscaler by 21.3% in the 2nd quarter. GAMMA Investing LLC now owns 382 shares of the company’s stock valued at $73,000 after buying an additional 67 shares during the period. American Trust increased its holdings in shares of Zscaler by 6.1% during the 2nd quarter. American Trust now owns 1,210 shares of the company’s stock worth $233,000 after buying an additional 70 shares during the last quarter. Valley Brook Capital Group Inc. raised its position in shares of Zscaler by 4.0% during the 3rd 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 during the period. Finally, Swedbank AB lifted its holdings in Zscaler by 0.8% in the second quarter. Swedbank AB now owns 9,036 shares of the company’s stock valued at $1,737,000 after acquiring an additional 76 shares during the last quarter. Hedge funds and other institutional investors own 46.45% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on ZS shares. Oppenheimer cut their target price on Zscaler from $260.00 to $230.00 and set an “outperform” rating for the company in a research note on Wednesday, September 4th. Royal Bank of Canada reissued an “outperform” rating and set a $230.00 price objective on shares of Zscaler in a research report on Wednesday, September 4th. Stifel Nicolaus upped their target price on shares of Zscaler from $220.00 to $235.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Scotiabank dropped their price target on shares of Zscaler from $210.00 to $195.00 and set a “sector outperform” rating for the company in a research report on Wednesday, September 4th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Zscaler from $220.00 to $240.00 and gave the stock an “overweight” rating in a report on Friday. Ten research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $221.13.

Insider Activity at Zscaler

In other news, CEO Jagtar Singh Chaudhry sold 2,852 shares of the business’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $171.28, for a total value of $488,490.56. Following the completion of the sale, the chief executive officer now directly owns 361,432 shares of the company’s stock, valued at approximately $61,906,072.96. The trade was a 0.78 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Robert Schlossman sold 1,435 shares of the firm’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 transaction, the insider now owns 105,806 shares in the company, valued at $19,224,950.20. This represents a 1.34 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 30,502 shares of company stock valued at $5,256,651 over the last three months. 19.20% of the stock is owned by corporate insiders.

Zscaler Trading Up 0.8 %

Zscaler stock opened at $206.59 on Friday. The stock has a market cap of $31.70 billion, a P/E ratio of -516.46 and a beta of 0.82. The company has a fifty day simple moving average of $189.44 and a 200-day simple moving average of $184.50. Zscaler, Inc. has a 12-month low of $153.45 and a 12-month high of $259.61.

Zscaler (NASDAQ:ZS) last announced its quarterly earnings results on Tuesday, September 3rd. The company reported ($0.05) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.09. Zscaler had a negative return on equity of 3.46% and a negative net margin of 2.66%. The company had revenue of $592.90 million during the quarter, compared to the consensus estimate of $567.46 million. During the same period in the previous year, the business earned ($0.17) EPS. Zscaler’s revenue for the quarter was up 30.3% on a year-over-year basis. As a group, sell-side analysts forecast that Zscaler, Inc. will post -0.95 earnings per share for the current fiscal year.

Zscaler 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.