Zscaler, Inc. (NASDAQ:ZS) Shares Sold by Rakuten Securities Inc.

Rakuten Securities Inc. lessened its stake in Zscaler, Inc. (NASDAQ:ZS) by 50.0% in the 3rd quarter, Holdings Channel reports. The firm owned 1,927 shares of the company’s stock after selling 1,930 shares during the period. Rakuten Securities Inc.’s holdings in Zscaler were worth $329,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. International Assets Investment Management LLC grew its stake in shares of Zscaler by 13,498.6% in the third quarter. International Assets Investment Management LLC now owns 285,299 shares of the company’s stock valued at $48,769,000 after buying an additional 283,201 shares in the last quarter. Quadrature Capital Ltd acquired a new position in Zscaler in the 1st quarter valued at about $47,217,000. GuoLine Advisory Pte Ltd purchased a new stake in Zscaler during the third quarter worth about $32,660,000. Jupiter Asset Management Ltd. purchased a new position in shares of Zscaler in the first quarter valued at approximately $27,954,000. Finally, Massachusetts Financial Services Co. MA acquired a new stake in Zscaler during the 2nd quarter worth approximately $25,287,000. Hedge funds and other institutional investors own 46.45% of the company’s stock.

Zscaler Trading Up 1.9 %

ZS stock opened at $199.54 on Tuesday. The company’s 50-day moving average price is $179.04 and its 200 day moving average price is $181.76. Zscaler, Inc. has a 52 week low of $153.45 and a 52 week high of $259.61. The company has a market cap of $30.43 billion, a P/E ratio of -498.84 and a beta of 0.82.

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

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on ZS. JMP Securities reiterated a “market outperform” rating and issued a $270.00 price objective on shares of Zscaler in a research note on Monday, November 4th. UBS Group reduced their target price on shares of Zscaler from $270.00 to $250.00 and set a “buy” rating on the stock in a report on Wednesday, September 4th. Morgan Stanley raised their price objective on shares of Zscaler from $202.00 to $215.00 and gave the company an “equal weight” rating in a report on Monday, August 26th. BNP Paribas initiated coverage on Zscaler in a report on Tuesday, October 8th. They issued a “neutral” rating and a $180.00 target price on the stock. Finally, Wells Fargo & Company lowered their price objective on Zscaler from $182.00 to $180.00 and set an “equal weight” rating for the company 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 assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $216.73.

Insider Transactions at Zscaler

In other Zscaler news, insider Robert Schlossman sold 1,435 shares of the company’s stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $181.70, for a total value of $260,739.50. Following the sale, the insider now owns 105,806 shares of the company’s stock, valued at $19,224,950.20. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Andrew William Fraser Brown sold 8,000 shares of Zscaler stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $174.10, for a total transaction of $1,392,800.00. Following the completion of the sale, the director now owns 25,907 shares in the company, valued at approximately $4,510,408.70. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Robert Schlossman sold 1,435 shares of the company’s stock in a transaction dated Wednesday, October 9th. The shares were 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 owns 105,806 shares in the company, valued at approximately $19,224,950.20. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 30,502 shares of company stock valued at $5,256,651 in the last 90 days. 19.20% of the stock is currently owned by insiders.

About Zscaler

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.