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

Truvestments Capital LLC trimmed its holdings in shares of Zscaler, Inc. (NASDAQ:ZS) by 6.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund 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 reporting period.

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

Insider Activity

In other Zscaler news, CEO Jagtar Singh Chaudhry sold 2,852 shares of the stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $171.28, for a total transaction of $488,490.56. Following the completion of the transaction, the chief executive officer now owns 361,432 shares of the company’s stock, valued at $61,906,072.96. This trade represents a 0.78 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Robert Schlossman sold 4,947 shares of the business’s stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $170.22, for a total transaction of $842,078.34. Following the completion of the sale, the insider now directly owns 107,241 shares in the company, valued at $18,254,563.02. This trade represents a 4.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 30,502 shares of company stock valued at $5,256,651 in the last 90 days. Company insiders own 19.20% of the company’s stock.

Zscaler Price Performance

NASDAQ ZS opened at $213.90 on Monday. The stock’s fifty day moving average is $186.49 and its two-hundred day moving average is $183.69. Zscaler, Inc. has a fifty-two week low of $153.45 and a fifty-two week high of $259.61.

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

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on ZS. Bank of America downgraded shares of Zscaler from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $265.00 to $195.00 in a research note on Wednesday, September 4th. KeyCorp upped their price objective on shares of Zscaler from $220.00 to $245.00 and gave the company an “overweight” rating in a report on Friday. Cantor Fitzgerald raised Zscaler to a “hold” rating in a research report on Monday, November 18th. JMP Securities restated a “market outperform” rating and issued a $270.00 price objective on shares of Zscaler in a research note on Monday, November 4th. Finally, BMO Capital Markets dropped their target price on Zscaler from $208.00 to $197.00 and set an “outperform” rating on the stock in a research report on Wednesday, September 4th. 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. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $218.55.

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.