Truvestments Capital LLC Trims Stock Holdings in Zscaler, Inc. (NASDAQ:ZS)

Truvestments Capital LLC lowered its position in shares of Zscaler, Inc. (NASDAQ:ZS) by 6.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,597 shares of the company’s stock after selling 254 shares during the quarter. Truvestments Capital LLC’s holdings in Zscaler were worth $615,000 at the end of the most recent quarter.

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

Wall Street Analyst Weigh In

Several analysts recently commented on ZS shares. Barclays increased their price objective on shares of Zscaler from $200.00 to $220.00 and gave the company an “overweight” rating in a research report on Thursday. Robert W. Baird cut their price target on shares of Zscaler from $260.00 to $225.00 and set an “outperform” rating on the stock in a report on Wednesday, September 4th. BNP Paribas assumed 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. Bank of America cut Zscaler from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $265.00 to $195.00 in a research report on Wednesday, September 4th. Finally, Wedbush reduced their target price on Zscaler from $260.00 to $220.00 and set an “outperform” rating for the company in a report on Wednesday, September 4th. Ten investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $218.55.

Zscaler Trading Up 1.4 %

ZS opened at $213.90 on Monday. The company has a 50 day simple moving average of $186.49 and a two-hundred day simple moving average of $183.69. Zscaler, Inc. has a 1-year low of $153.45 and a 1-year high of $259.61.

Zscaler (NASDAQ:ZS) last issued its earnings results on Tuesday, September 3rd. The company reported ($0.05) earnings per share for the quarter, topping the consensus estimate of ($0.14) by $0.09. The company had revenue of $592.90 million during the quarter, compared to the consensus estimate of $567.46 million. Zscaler had a negative net margin of 2.66% and a negative return on equity of 3.46%. Zscaler’s quarterly revenue was up 30.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.17) EPS. On average, equities research analysts expect that Zscaler, Inc. will post -0.95 EPS for the current year.

Insider Buying and Selling

In related news, Director Andrew William Fraser Brown sold 8,000 shares of the business’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $174.10, for a total value of $1,392,800.00. Following the sale, the director now owns 25,907 shares in the company, valued at approximately $4,510,408.70. The trade was a 23.59 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Robert Schlossman sold 1,435 shares of the company’s 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 sale, the insider now owns 105,806 shares in the company, valued at $19,224,950.20. This represents a 1.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 30,502 shares of company stock worth $5,256,651. 19.20% of the stock is owned by corporate insiders.

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.