Foundations Investment Advisors LLC Reduces Holdings in Zscaler, Inc. (NASDAQ:ZS)

Foundations Investment Advisors LLC decreased its holdings in Zscaler, Inc. (NASDAQ:ZS) by 35.1% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,666 shares of the company’s stock after selling 3,600 shares during the quarter. Foundations Investment Advisors LLC’s holdings in Zscaler were worth $1,139,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Evernest Financial Advisors LLC purchased a new position in Zscaler during the third quarter valued at approximately $222,000. Whitaker Myers Wealth Managers LTD. purchased a new position in Zscaler during the third quarter valued at approximately $233,000. Chicago Capital LLC lifted its holdings in Zscaler by 6.7% during the third quarter. Chicago Capital LLC now owns 7,857 shares of the company’s stock valued at $1,343,000 after purchasing an additional 495 shares in the last quarter. Blue Trust Inc. lifted its holdings in Zscaler by 24.4% during the third quarter. Blue Trust Inc. now owns 1,557 shares of the company’s stock valued at $266,000 after purchasing an additional 305 shares in the last quarter. Finally, Vista Investment Partners LLC lifted its holdings in Zscaler by 13.3% during the third quarter. Vista Investment Partners LLC now owns 3,320 shares of the company’s stock valued at $568,000 after purchasing an additional 390 shares in the last quarter. Hedge funds and other institutional investors own 46.45% of the company’s stock.

Insider Activity

In other news, insider Michael J. Rich sold 4,813 shares of the business’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $171.28, for a total transaction of $824,370.64. Following the completion of the sale, the insider now directly owns 103,259 shares of the company’s stock, valued at approximately $17,686,201.52. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Michael J. Rich sold 4,813 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 $824,370.64. Following the completion of the sale, the insider now directly owns 103,259 shares of the company’s stock, valued at $17,686,201.52. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Robert Schlossman sold 4,947 shares of the company’s stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $170.22, for a total transaction of $842,078.34. Following the completion of the sale, the insider now directly owns 107,241 shares of the company’s stock, valued at approximately $18,254,563.02. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 30,502 shares of company stock valued at $5,256,651. 19.20% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the stock. Rosenblatt Securities reaffirmed a “neutral” rating and set a $190.00 price target on shares of Zscaler in a report on Wednesday, September 4th. UBS Group reduced their price objective on shares of Zscaler from $270.00 to $250.00 and set a “buy” rating on the stock in a research report on Wednesday, September 4th. Stifel Nicolaus reiterated a “buy” rating and set a $220.00 price objective on shares of Zscaler in a research report on Wednesday, September 4th. Oppenheimer reduced their price objective on shares of Zscaler from $260.00 to $230.00 and set an “outperform” rating on the stock in a research report on Wednesday, September 4th. Finally, Morgan Stanley lifted their price objective on shares of Zscaler from $202.00 to $215.00 and gave the company an “equal weight” rating in a research report on Monday, August 26th. Ten 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 a consensus rating of “Moderate Buy” and a consensus target price of $216.73.

Zscaler Stock Down 2.8 %

ZS stock opened at $181.01 on Thursday. Zscaler, Inc. has a twelve month low of $152.60 and a twelve month high of $259.61. The stock has a market capitalization of $27.36 billion, a price-to-earnings ratio of -361.00 and a beta of 0.82. The firm’s fifty day simple moving average is $181.25 and its two-hundred day simple moving average is $180.72.

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

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.