Apollon Wealth Management LLC Sells 402 Shares of Zscaler, Inc. (NASDAQ:ZS)

Apollon Wealth Management LLC lowered its position in Zscaler, Inc. (NASDAQ:ZS) by 14.3% during the 3rd quarter, Holdings Channel reports. The fund owned 2,402 shares of the company’s stock after selling 402 shares during the period. Apollon Wealth Management LLC’s holdings in Zscaler were worth $411,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in ZS. Quest Partners LLC purchased a new stake in shares of Zscaler in the second quarter worth approximately $28,000. Asset Dedication LLC raised its stake in shares of Zscaler by 436.8% in the second quarter. Asset Dedication LLC now owns 204 shares of the company’s stock worth $39,000 after purchasing an additional 166 shares during the last quarter. American Capital Advisory LLC purchased a new stake in shares of Zscaler in the second quarter worth approximately $50,000. GAMMA Investing LLC raised its stake in shares of Zscaler by 21.3% in the second quarter. GAMMA Investing LLC now owns 382 shares of the company’s stock worth $73,000 after purchasing an additional 67 shares during the last quarter. Finally, Quarry LP raised its stake in shares of Zscaler by 613.0% in the second quarter. Quarry LP now owns 385 shares of the company’s stock worth $74,000 after purchasing an additional 331 shares during the last quarter. Institutional investors own 46.45% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on ZS shares. Rosenblatt Securities reissued a “neutral” rating and issued a $190.00 price objective on shares of Zscaler in a research note on Wednesday, September 4th. Citigroup decreased their price target on Zscaler from $240.00 to $230.00 and set a “buy” rating for the company in a research report on Friday, October 4th. Scotiabank decreased their price target on Zscaler from $210.00 to $195.00 and set a “sector outperform” rating for the company in a research report on Wednesday, September 4th. Wells Fargo & Company decreased their price target 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. Finally, Stifel Nicolaus increased 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 analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $217.18.

Zscaler Stock Performance

NASDAQ:ZS opened at $201.47 on Monday. The firm has a market capitalization of $30.72 billion, a price-to-earnings ratio of -503.68 and a beta of 0.82. Zscaler, Inc. has a 52-week low of $153.45 and a 52-week high of $259.61. The stock has a fifty day moving average of $182.23 and a 200 day moving average of $182.66.

Zscaler (NASDAQ:ZS) last posted its quarterly earnings data on Tuesday, September 3rd. The company reported ($0.05) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.14) by $0.09. The company had revenue of $592.90 million during 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 firm’s quarterly revenue was up 30.3% on a year-over-year basis. During the same quarter last year, the company earned ($0.17) earnings per share. Equities analysts forecast that Zscaler, Inc. will post -0.97 earnings per share for the current fiscal year.

Insider Activity at Zscaler

In other Zscaler news, CFO Remo Canessa sold 8,455 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $171.28, for a total transaction of $1,448,172.40. Following the sale, the chief financial officer now owns 231,793 shares in the company, valued at $39,701,505.04. This trade represents a 3.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Jagtar Singh Chaudhry sold 2,852 shares of the firm’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 sale, the chief executive officer now owns 361,432 shares in the company, valued at $61,906,072.96. The trade was a 0.78 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 30,502 shares of company stock valued at $5,256,651. Company insiders own 19.20% of the company’s stock.

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.