Zscaler, Inc. (NASDAQ:ZS) Stake Reduced by Highland Capital Management LLC

Highland Capital Management LLC decreased its holdings in shares of Zscaler, Inc. (NASDAQ:ZS) by 16.6% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 5,419 shares of the company’s stock after selling 1,078 shares during the period. Highland Capital Management LLC’s holdings in Zscaler were worth $1,041,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Jones Financial Companies Lllp acquired a new stake in shares of Zscaler during the fourth quarter worth $29,000. Parkside Financial Bank & Trust lifted its holdings in shares of Zscaler by 582.6% in the fourth quarter. Parkside Financial Bank & Trust now owns 157 shares of the company’s stock valued at $35,000 after purchasing an additional 134 shares in the last quarter. GAMMA Investing LLC acquired a new stake in shares of Zscaler in the fourth quarter worth $37,000. Quadrant Capital Group LLC grew its holdings in shares of Zscaler by 66.7% during the fourth quarter. Quadrant Capital Group LLC now owns 175 shares of the company’s stock valued at $39,000 after buying an additional 70 shares in the last quarter. Finally, Lindbrook Capital LLC lifted its position in shares of Zscaler by 41.1% in the fourth quarter. Lindbrook Capital LLC now owns 237 shares of the company’s stock worth $53,000 after purchasing an additional 69 shares in the last quarter. Institutional investors and hedge funds own 46.45% of the company’s stock.

Insiders Place Their Bets

In other Zscaler news, CFO Remo Canessa sold 4,689 shares of the company’s stock in a transaction on Tuesday, June 18th. The stock was sold at an average price of $180.93, for a total transaction of $848,380.77. Following the transaction, the chief financial officer now owns 251,467 shares of the company’s stock, valued at approximately $45,497,924.31. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 19.20% of the company’s stock.

Zscaler Price Performance

Zscaler stock traded up $1.78 during trading hours on Monday, hitting $201.21. 75,771 shares of the stock were exchanged, compared to its average volume of 2,084,674. Zscaler, Inc. has a 12 month low of $139.51 and a 12 month high of $259.61. The business’s 50-day moving average is $187.05 and its two-hundred day moving average is $191.41. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.75 and a current ratio of 1.75. The stock has a market capitalization of $30.41 billion, a P/E ratio of -390.06 and a beta of 0.85.

Zscaler (NASDAQ:ZS) last issued its quarterly earnings data on Thursday, May 30th. The company reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.24) by $0.39. Zscaler had a negative return on equity of 5.84% and a negative net margin of 3.62%. The firm had revenue of $553.20 million during the quarter, compared to the consensus estimate of $535.55 million. Equities research analysts expect that Zscaler, Inc. will post -0.32 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

ZS has been the subject of a number of research reports. Stifel Nicolaus lowered their target price on Zscaler from $270.00 to $220.00 and set a “buy” rating on the stock in a research note on Thursday, May 16th. Barclays raised their price objective on shares of Zscaler from $205.00 to $210.00 and gave the company an “overweight” rating in a research report on Friday, May 31st. Susquehanna decreased their target price on shares of Zscaler from $275.00 to $210.00 and set a “positive” rating for the company in a research report on Friday, May 31st. Scotiabank dropped their price target on shares of Zscaler from $250.00 to $210.00 and set a “sector outperform” rating on the stock in a research note on Friday, May 31st. Finally, Morgan Stanley upped their price objective on shares of Zscaler from $202.00 to $215.00 and gave the stock an “equal weight” rating in a report on Monday. Eight research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Zscaler has a consensus rating of “Moderate Buy” and a consensus target price of $225.59.

About Zscaler

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.