Sheaff Brock Investment Advisors LLC Increases Holdings in Zscaler, Inc. (NASDAQ:ZS)

Sheaff Brock Investment Advisors LLC lifted its position in shares of Zscaler, Inc. (NASDAQ:ZS) by 2.5% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,011 shares of the company’s stock after buying an additional 96 shares during the period. Sheaff Brock Investment Advisors LLC’s holdings in Zscaler were worth $686,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Quest Partners LLC purchased a new position in Zscaler in the 2nd quarter worth approximately $28,000. Asset Dedication LLC increased its stake in Zscaler by 436.8% in the 2nd quarter. Asset Dedication LLC now owns 204 shares of the company’s stock worth $39,000 after purchasing an additional 166 shares during the period. American Capital Advisory LLC bought a new stake in shares of Zscaler in the 2nd quarter worth approximately $50,000. GAMMA Investing LLC grew its position in shares of Zscaler by 21.3% in the 2nd 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 grew 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 buying an additional 331 shares during the last quarter. 46.45% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on ZS shares. Citigroup cut their price objective on Zscaler from $240.00 to $230.00 and set a “buy” rating on the stock in a research report on Friday, October 4th. Susquehanna reiterated a “positive” rating and issued a $210.00 price objective on shares of Zscaler in a research report on Thursday, September 5th. Barclays cut their price objective on Zscaler from $230.00 to $200.00 and set an “overweight” rating on the stock in a research report on Wednesday, September 4th. UBS Group cut their price objective on Zscaler from $270.00 to $250.00 and set a “buy” rating on the stock in a research report on Wednesday, September 4th. Finally, Stifel Nicolaus lifted their price target on Zscaler from $220.00 to $235.00 and gave the company a “buy” rating in a research report on Thursday. Ten investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $217.18.

Zscaler Stock Performance

Shares of NASDAQ ZS opened at $201.47 on Friday. The business’s 50 day moving average price is $182.23 and its 200-day moving average price is $182.52. Zscaler, Inc. has a fifty-two week low of $153.45 and a fifty-two week high of $259.61. The company has a market cap of $30.72 billion, a price-to-earnings ratio of -503.66 and a beta of 0.82.

Zscaler (NASDAQ:ZS) last issued its quarterly 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. Zscaler had a negative return on equity of 3.46% and a negative net margin of 2.66%. The firm had revenue of $592.90 million for the quarter, compared to the consensus estimate of $567.46 million. During the same period in the prior year, the business posted ($0.17) earnings per share. The company’s revenue for the quarter was up 30.3% on a year-over-year basis. Sell-side analysts predict that Zscaler, Inc. will post -0.95 earnings per share for the current year.

Insider Buying and Selling

In other Zscaler news, CEO Jagtar Singh Chaudhry sold 2,852 shares of the stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $171.28, for a total transaction of $488,490.56. Following the sale, the chief executive officer now owns 361,432 shares of the company’s stock, valued at approximately $61,906,072.96. This trade represents a 0.78 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Remo Canessa sold 8,455 shares of the firm’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $171.28, for a total value of $1,448,172.40. Following the completion of the sale, the chief financial officer now directly owns 231,793 shares of the company’s stock, valued at $39,701,505.04. The trade was a 3.52 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 30,502 shares of company stock valued at $5,256,651 over the last quarter. 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.