Teamwork Financial Advisors LLC Sells 17,595 Shares of Zscaler, Inc. (NASDAQ:ZS)

Teamwork Financial Advisors LLC cut its stake in Zscaler, Inc. (NASDAQ:ZS) by 80.0% in the fourth quarter, HoldingsChannel.com reports. The fund owned 4,408 shares of the company’s stock after selling 17,595 shares during the period. Teamwork Financial Advisors LLC’s holdings in Zscaler were worth $795,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in ZS. Dimensional Fund Advisors LP boosted its position in Zscaler by 13.2% in the second quarter. Dimensional Fund Advisors LP now owns 160,828 shares of the company’s stock worth $30,908,000 after purchasing an additional 18,758 shares during the last quarter. Intech Investment Management LLC grew its position in Zscaler by 69.0% during the second quarter. Intech Investment Management LLC now owns 7,910 shares of the company’s stock valued at $1,520,000 after buying an additional 3,230 shares during the period. Benjamin F. Edwards & Company Inc. raised its position in Zscaler by 13.8% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 2,750 shares of the company’s stock worth $529,000 after acquiring an additional 334 shares during the period. Canada Pension Plan Investment Board boosted its stake in shares of Zscaler by 57.7% during the 2nd quarter. Canada Pension Plan Investment Board now owns 15,436 shares of the company’s stock worth $2,967,000 after acquiring an additional 5,645 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its position in shares of Zscaler by 8.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 832 shares of the company’s stock valued at $149,000 after acquiring an additional 66 shares during the period. 46.45% of the stock is owned by hedge funds and other institutional investors.

Zscaler Trading Up 0.6 %

Shares of NASDAQ:ZS opened at $192.93 on Thursday. Zscaler, Inc. has a 12 month low of $153.45 and a 12 month high of $259.61. The firm’s 50-day moving average is $195.52 and its 200 day moving average is $187.88.

Zscaler (NASDAQ:ZS) last issued its quarterly earnings results on Monday, December 2nd. The company reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.14. The firm had revenue of $628.00 million for the quarter, compared to the consensus estimate of $605.51 million. Zscaler had a negative return on equity of 0.75% and a negative net margin of 1.58%. The company’s revenue for the quarter was up 26.4% on a year-over-year basis. During the same period in the prior year, the business posted ($0.18) earnings per share. Sell-side analysts anticipate that Zscaler, Inc. will post -0.16 earnings per share for the current year.

Wall Street Analysts Forecast Growth

ZS has been the subject of several recent research reports. KeyCorp upped their price target on Zscaler from $245.00 to $250.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 3rd. Needham & Company LLC reissued a “buy” rating and issued a $240.00 target price on shares of Zscaler in a report on Friday, January 10th. Piper Sandler upped their price target on shares of Zscaler from $215.00 to $235.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 3rd. Barclays raised 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, November 21st. Finally, Canaccord Genuity Group upped their target price on shares of Zscaler from $220.00 to $230.00 and gave the stock a “buy” rating in a report on Tuesday, December 3rd. Eleven equities research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $225.47.

Insider Buying and Selling at Zscaler

In other news, insider Syam Nair sold 3,682 shares of the company’s stock in a transaction that occurred on Tuesday, December 17th. The shares were 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 owns 142,866 shares of the company’s stock, valued at approximately $28,618,917.12. This represents a 2.51 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Remo Canessa sold 3,703 shares of the stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $200.32, for a total transaction of $741,784.96. Following the transaction, the chief financial officer now owns 220,635 shares in the company, valued at approximately $44,197,603.20. This represents a 1.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 10,248 shares of company stock valued at $2,052,879 in the last three months. Company insiders own 18.10% of the company’s stock.

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.