Highland Capital Management LLC Sells 189 Shares of Zscaler, Inc. (NASDAQ:ZS)

Highland Capital Management LLC cut its holdings in shares of Zscaler, Inc. (NASDAQ:ZS) by 3.5% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 5,230 shares of the company’s stock after selling 189 shares during the period. Highland Capital Management LLC’s holdings in Zscaler were worth $894,000 at the end of the most recent quarter.

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

Zscaler Trading Up 0.6 %

ZS opened at $184.96 on Friday. The company’s 50 day moving average is $180.90 and its 200-day moving average is $180.70. The company has a market cap of $27.96 billion, a P/E ratio of -362.67 and a beta of 0.82. Zscaler, Inc. has a 1-year low of $152.60 and a 1-year 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 (EPS) for the quarter, topping 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 company had revenue of $592.90 million during the quarter, compared to the consensus estimate of $567.46 million. During the same period in the prior year, the business earned ($0.17) earnings per share. The company’s revenue for the quarter was up 30.3% compared to the same quarter last year. On average, equities analysts forecast that Zscaler, Inc. will post -0.95 EPS 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 that occurred on 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 directly owns 105,806 shares in the company, valued at $19,224,950.20. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Robert Schlossman sold 1,435 shares of the firm’s stock in a transaction on Wednesday, October 9th. The stock was 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 $19,224,950.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jagtar Singh Chaudhry sold 2,852 shares of the company’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $171.28, for a total value of $488,490.56. Following the completion of the sale, the chief executive officer now owns 361,432 shares in the company, valued at $61,906,072.96. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 30,502 shares of company stock worth $5,256,651. 19.20% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages have commented on ZS. Wedbush cut their price target on shares of Zscaler from $260.00 to $220.00 and set an “outperform” rating on the stock in a research report on Wednesday, September 4th. BMO Capital Markets dropped their price target on shares of Zscaler from $208.00 to $197.00 and set an “outperform” rating on the stock in a research report on Wednesday, September 4th. Robert W. Baird decreased their price objective on shares of Zscaler from $260.00 to $225.00 and set an “outperform” rating for the company in a research report on Wednesday, September 4th. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $190.00 target price on shares of Zscaler in a report on Wednesday, September 4th. Finally, Wells Fargo & Company reduced their price target on Zscaler from $182.00 to $180.00 and set an “equal weight” rating for the company in a report on Wednesday, September 4th. Ten research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Zscaler currently has a consensus rating of “Moderate Buy” and an average price target of $216.73.

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.