Zscaler, Inc. (NASDAQ:ZS) Position Reduced by Avestar Capital LLC

Avestar Capital LLC reduced its stake in shares of Zscaler, Inc. (NASDAQ:ZS) by 62.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,272 shares of the company’s stock after selling 2,100 shares during the period. Avestar Capital LLC’s holdings in Zscaler were worth $229,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Geode Capital Management LLC lifted its stake in Zscaler by 3.9% during the third quarter. Geode Capital Management LLC now owns 1,625,861 shares of the company’s stock worth $277,327,000 after purchasing an additional 60,414 shares during the last quarter. Champlain Investment Partners LLC raised its holdings in shares of Zscaler by 28.2% during the third quarter. Champlain Investment Partners LLC now owns 1,289,350 shares of the company’s stock worth $220,401,000 after purchasing an additional 283,540 shares during the period. Westfield Capital Management Co. LP boosted its holdings in shares of Zscaler by 33.8% in the 3rd quarter. Westfield Capital Management Co. LP now owns 399,516 shares of the company’s stock valued at $68,293,000 after buying an additional 100,814 shares during the period. Nomura Asset Management Co. Ltd. grew its position in shares of Zscaler by 11.0% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 380,463 shares of the company’s stock valued at $65,036,000 after buying an additional 37,801 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in Zscaler by 4.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 355,070 shares of the company’s stock worth $60,696,000 after acquiring an additional 16,634 shares during the period. Institutional investors own 46.45% of the company’s stock.

Zscaler Stock Down 1.0 %

Shares of NASDAQ ZS opened at $212.70 on Friday. Zscaler, Inc. has a 52-week low of $153.45 and a 52-week high of $255.00. The stock has a market capitalization of $32.64 billion, a price-to-earnings ratio of -850.80 and a beta of 0.89. The stock’s fifty day simple moving average is $194.79 and its 200 day simple moving average is $189.35.

Zscaler (NASDAQ:ZS) last issued its quarterly earnings results on Monday, December 2nd. The company reported $0.77 EPS for the quarter, beating the consensus estimate of $0.63 by $0.14. Zscaler had a negative net margin of 1.58% and a negative return on equity of 0.75%. The business had revenue of $628.00 million during the quarter, compared to the consensus estimate of $605.51 million. During the same quarter in the prior year, the firm earned ($0.18) EPS. The firm’s quarterly revenue was up 26.4% on a year-over-year basis. As a group, analysts anticipate that Zscaler, Inc. will post -0.1 earnings per share for the current year.

Insider Activity at Zscaler

In other news, insider Syam Nair sold 3,682 shares of the company’s stock in a transaction 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 transaction, the insider now directly owns 142,866 shares of the company’s stock, valued at approximately $28,618,917.12. This represents a 2.51 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Jagtar Singh Chaudhry sold 2,863 shares of Zscaler stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $200.32, for a total value of $573,516.16. Following the sale, the chief executive officer now directly owns 358,569 shares of the company’s stock, valued at approximately $71,828,542.08. The trade was a 0.79 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 10,248 shares of company stock valued at $2,052,879. Company insiders own 18.10% of the company’s stock.

Wall Street Analysts Forecast Growth

ZS has been the subject of several recent research reports. Canaccord Genuity Group upped their target price on Zscaler from $220.00 to $230.00 and gave the company a “buy” rating in a report on Tuesday, December 3rd. Scotiabank increased their target price on Zscaler from $205.00 to $225.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, January 21st. Guggenheim reiterated a “neutral” rating on shares of Zscaler in a research note on Tuesday, December 3rd. Royal Bank of Canada restated an “outperform” rating and set a $230.00 price target on shares of Zscaler in a research report on Tuesday, December 3rd. Finally, BMO Capital Markets lifted their price objective on shares of Zscaler from $197.00 to $222.00 and gave the company an “outperform” rating in a research report on Tuesday, December 3rd. Eleven analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $225.63.

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.