Plato Investment Management Ltd Trims Holdings in Zscaler, Inc. (NASDAQ:ZS)

Plato Investment Management Ltd reduced its holdings in shares of Zscaler, Inc. (NASDAQ:ZS) by 54.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,191 shares of the company’s stock after selling 2,665 shares during the period. Plato Investment Management Ltd’s holdings in Zscaler were worth $374,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the business. Quest Partners LLC purchased a new stake in shares of Zscaler in the second quarter worth $28,000. Asset Dedication LLC grew its position in Zscaler by 436.8% during the 2nd quarter. Asset Dedication LLC now owns 204 shares of the company’s stock valued at $39,000 after purchasing an additional 166 shares during the last quarter. American Capital Advisory LLC bought a new stake in Zscaler during the 2nd quarter valued at about $50,000. GAMMA Investing LLC raised its holdings in Zscaler by 21.3% in the second quarter. GAMMA Investing LLC now owns 382 shares of the company’s stock worth $73,000 after buying an additional 67 shares during the last quarter. Finally, Quarry LP lifted its stake in shares of Zscaler by 613.0% in the second quarter. Quarry LP now owns 385 shares of the company’s stock worth $74,000 after buying an additional 331 shares in the last quarter. 46.45% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ZS has been the subject of a number of recent analyst reports. BNP Paribas started coverage on shares of Zscaler in a report on Tuesday, October 8th. They issued a “neutral” rating and a $180.00 price objective for the company. Susquehanna reaffirmed a “positive” rating and set a $210.00 price target on shares of Zscaler in a report on Thursday, September 5th. Needham & Company LLC dropped their price objective on Zscaler from $290.00 to $235.00 and set a “strong-buy” rating on the stock in a research report on Wednesday, September 4th. Oppenheimer decreased their target price on Zscaler from $260.00 to $230.00 and set an “outperform” rating for the company in a research report on Wednesday, September 4th. Finally, Morgan Stanley raised their price target on shares of Zscaler from $202.00 to $215.00 and gave the company an “equal weight” rating in a report on Monday, August 26th. Ten research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $217.18.

Zscaler Trading Down 0.6 %

NASDAQ:ZS opened at $208.50 on Friday. The stock has a 50-day moving average price of $181.34 and a 200 day moving average price of $182.36. Zscaler, Inc. has a 12-month low of $153.45 and a 12-month high of $259.61.

Zscaler (NASDAQ:ZS) last issued its quarterly earnings data on Tuesday, September 3rd. The company reported ($0.05) earnings per share (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $592.90 million for the quarter, compared to analysts’ expectations of $567.46 million. During the same period in the prior year, the firm earned ($0.17) EPS. The company’s revenue for the quarter was up 30.3% on a year-over-year basis. On average, equities research analysts anticipate that Zscaler, Inc. will post -0.95 earnings per share for the current year.

Insider Buying and Selling at Zscaler

In related news, insider Robert Schlossman sold 1,435 shares of Zscaler stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $181.70, for a total transaction of $260,739.50. Following the completion of the transaction, the insider now directly owns 105,806 shares of the company’s stock, valued at approximately $19,224,950.20. The trade was a 1.34 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Andrew William Fraser Brown sold 8,000 shares of the stock in a transaction dated 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 sale, the director now directly owns 25,907 shares in the company, valued at $4,510,408.70. This trade represents a 23.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 30,502 shares of company stock worth $5,256,651 over the last ninety days. Company insiders own 19.20% of the company’s stock.

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.