Bamco Inc. NY Trims Stock Position in Zscaler, Inc. (NASDAQ:ZS)

Bamco Inc. NY reduced its stake in shares of Zscaler, Inc. (NASDAQ:ZS) by 6.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 100,272 shares of the company’s stock after selling 6,468 shares during the period. Bamco Inc. NY’s holdings in Zscaler were worth $17,140,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. EverSource Wealth Advisors LLC raised its holdings in shares of Zscaler by 8.6% in the second quarter. EverSource Wealth Advisors LLC now owns 832 shares of the company’s stock worth $149,000 after acquiring an additional 66 shares during the last quarter. GAMMA Investing LLC raised its stake in 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 purchasing an additional 67 shares during the last quarter. American Trust lifted its holdings in Zscaler by 6.1% in the 2nd quarter. American Trust now owns 1,210 shares of the company’s stock valued at $233,000 after purchasing an additional 70 shares in the last quarter. Valley Brook Capital Group Inc. boosted its stake 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 worth $337,000 after purchasing an additional 75 shares during the last quarter. Finally, Swedbank AB grew its holdings in shares of Zscaler by 0.8% during the second quarter. Swedbank AB now owns 9,036 shares of the company’s stock worth $1,737,000 after buying an additional 76 shares in the last quarter. Hedge funds and other institutional investors own 46.45% of the company’s stock.

Zscaler Stock Performance

Shares of NASDAQ ZS opened at $208.51 on Tuesday. The business has a 50 day moving average price of $190.12 and a two-hundred day moving average price of $184.80. Zscaler, Inc. has a fifty-two week low of $153.45 and a fifty-two week high of $259.61.

Zscaler (NASDAQ:ZS) last issued its quarterly earnings results on Monday, December 2nd. The company reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.63 by $0.14. The business had revenue of $628.00 million during the quarter, compared to analyst estimates of $605.51 million. Zscaler had a negative net margin of 2.66% and a negative return on equity of 3.46%. The business’s revenue was up 26.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.18) earnings per share. As a group, sell-side analysts expect that Zscaler, Inc. will post -0.95 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Robert Schlossman sold 1,435 shares of the firm’s stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $181.70, for a total transaction of $260,739.50. Following the transaction, the insider now directly owns 105,806 shares in the company, valued at $19,224,950.20. This trade represents a 1.34 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Andrew William Fraser Brown sold 8,000 shares of Zscaler stock in a transaction on Monday, September 23rd. The stock was 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 approximately $4,510,408.70. This represents a 23.59 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 30,502 shares of company stock worth $5,256,651. Corporate insiders own 18.10% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. Needham & Company LLC decreased their target price on shares of Zscaler from $290.00 to $235.00 and set a “strong-buy” rating on the stock in a research report on Wednesday, September 4th. Piper Sandler lowered their price objective on Zscaler from $255.00 to $215.00 and set an “overweight” rating for the company in a research report on Wednesday, September 4th. Oppenheimer reduced their target price on Zscaler from $260.00 to $230.00 and set an “outperform” rating on the stock in a research report on Wednesday, September 4th. Bank of America cut Zscaler from a “buy” rating to a “neutral” rating and lowered their price target for the company from $265.00 to $195.00 in a report on Wednesday, September 4th. Finally, Citigroup cut their price objective on shares of Zscaler from $240.00 to $230.00 and set a “buy” rating on the stock in a report on Friday, October 4th. Ten research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $221.13.

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.