Kestra Private Wealth Services LLC Sells 610 Shares of Zscaler, Inc. (NASDAQ:ZS)

Kestra Private Wealth Services LLC lowered its stake in shares of Zscaler, Inc. (NASDAQ:ZS) by 9.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,980 shares of the company’s stock after selling 610 shares during the period. Kestra Private Wealth Services LLC’s holdings in Zscaler were worth $1,079,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ZS. Champlain Investment Partners LLC boosted its holdings in Zscaler by 28.2% during the third quarter. Champlain Investment Partners LLC now owns 1,289,350 shares of the company’s stock worth $220,401,000 after buying an additional 283,540 shares during the last quarter. International Assets Investment Management LLC boosted its holdings in Zscaler by 13,498.6% during the third quarter. International Assets Investment Management LLC now owns 285,299 shares of the company’s stock worth $48,769,000 after buying an additional 283,201 shares during the last quarter. Westfield Capital Management Co. LP boosted its holdings in Zscaler by 33.8% during the third quarter. Westfield Capital Management Co. LP now owns 399,516 shares of the company’s stock worth $68,293,000 after buying an additional 100,814 shares during the last quarter. Assenagon Asset Management S.A. boosted its holdings in Zscaler by 59.7% during the fourth quarter. Assenagon Asset Management S.A. now owns 190,794 shares of the company’s stock worth $34,421,000 after buying an additional 71,297 shares during the last quarter. Finally, Thematics Asset Management boosted its holdings in Zscaler by 88.5% during the third quarter. Thematics Asset Management now owns 147,000 shares of the company’s stock worth $25,128,000 after buying an additional 69,000 shares during the last quarter. Institutional investors own 46.45% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on ZS. Morgan Stanley cut their price objective on Zscaler from $215.00 to $205.00 and set an “equal weight” rating on the stock in a report on Tuesday, December 3rd. Canaccord Genuity Group lifted their price objective on Zscaler from $220.00 to $230.00 and gave the company a “buy” rating in a report on Tuesday, December 3rd. Barclays lifted their price objective on Zscaler from $200.00 to $220.00 and gave the company an “overweight” rating in a report on Thursday, November 21st. Deutsche Bank Aktiengesellschaft lifted their price objective on Zscaler from $200.00 to $225.00 and gave the company a “buy” rating in a report on Tuesday, December 3rd. Finally, Oppenheimer lifted their price objective on Zscaler from $230.00 to $250.00 and gave the company an “outperform” rating in a report on Tuesday, December 3rd. Eleven research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company. According to data from MarketBeat, Zscaler currently has an average rating of “Moderate Buy” and an average price target of $225.63.

Insider Buying and Selling

In related news, insider Syam Nair sold 3,682 shares of the business’s stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $200.32, for a total value of $737,578.24. Following the completion of the sale, the insider now directly owns 142,866 shares in the company, valued at $28,618,917.12. The trade was a 2.51 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Remo Canessa sold 3,703 shares of the business’s stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $200.32, for a total value of $741,784.96. Following the completion of the sale, 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 ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 10,248 shares of company stock valued at $2,052,879. 18.10% of the stock is owned by insiders.

Zscaler Trading Up 1.8 %

ZS stock opened at $214.84 on Friday. The firm has a market capitalization of $32.97 billion, a PE ratio of -859.36 and a beta of 0.89. Zscaler, Inc. has a 1-year low of $153.45 and a 1-year high of $255.00. The business’s 50 day simple moving average is $194.77 and its 200 day simple moving average is $189.04.

Zscaler (NASDAQ:ZS) last posted its earnings results on Monday, December 2nd. The company reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.14. The business had revenue of $628.00 million for the quarter, compared to analyst estimates of $605.51 million. Zscaler had a negative return on equity of 0.75% and a negative net margin of 1.58%. The firm’s revenue was up 26.4% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.18) EPS. As a group, sell-side analysts predict that Zscaler, Inc. will post -0.1 EPS 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.