Zscaler, Inc. (NASDAQ:ZS) Shares Sold by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. lessened its holdings in Zscaler, Inc. (NASDAQ:ZS) by 9.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,568 shares of the company’s stock after selling 649 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Zscaler were worth $1,123,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Quest Partners LLC acquired a new position in Zscaler in the second quarter worth $28,000. Asset Dedication LLC boosted its holdings in 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 period. American Capital Advisory LLC acquired a new position in Zscaler in the second quarter worth $50,000. GAMMA Investing LLC lifted its stake in Zscaler by 21.3% in the second quarter. GAMMA Investing LLC now owns 382 shares of the company’s stock valued at $73,000 after buying an additional 67 shares during the last quarter. Finally, Quarry LP lifted its stake in Zscaler by 613.0% in the second quarter. Quarry LP now owns 385 shares of the company’s stock valued at $74,000 after buying an additional 331 shares during the last quarter. Institutional investors and hedge funds own 46.45% of the company’s stock.

Insider Activity

In other news, CEO Jagtar Singh Chaudhry sold 2,852 shares of Zscaler stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $171.28, for a total transaction of $488,490.56. Following the completion of the sale, the chief executive officer now directly owns 361,432 shares in the company, valued at $61,906,072.96. The trade was a 0.78 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Andrew William Fraser Brown sold 8,000 shares of the business’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $174.10, for a total value of $1,392,800.00. Following the completion of the sale, the director now owns 25,907 shares of the company’s stock, valued at approximately $4,510,408.70. This trade represents a 23.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 30,502 shares of company stock worth $5,256,651 in the last three months. 19.20% of the stock is owned by insiders.

Zscaler Price Performance

NASDAQ:ZS opened at $202.85 on Tuesday. Zscaler, Inc. has a fifty-two week low of $153.45 and a fifty-two week high of $259.61. The stock’s 50-day moving average is $183.11 and its two-hundred day moving average is $182.84. The stock has a market cap of $30.93 billion, a PE ratio of -507.11 and a beta of 0.82.

Zscaler (NASDAQ:ZS) last released its earnings results on Tuesday, September 3rd. The company reported ($0.05) earnings per share for the quarter, beating 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 company had revenue of $592.90 million for the quarter, compared to analysts’ expectations of $567.46 million. During the same quarter in the previous year, the business posted ($0.17) EPS. The business’s revenue for the quarter was up 30.3% on a year-over-year basis. On average, equities research analysts anticipate that Zscaler, Inc. will post -0.97 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have issued reports on ZS. Citigroup cut their target price on Zscaler from $240.00 to $230.00 and set a “buy” rating on the stock in a research note on Friday, October 4th. Oppenheimer cut their target price on Zscaler from $260.00 to $230.00 and set an “outperform” rating on the stock in a research note on Wednesday, September 4th. Morgan Stanley raised their target price on Zscaler from $202.00 to $215.00 and gave the company an “equal weight” rating in a research note on Monday, August 26th. Needham & Company LLC cut their target price on Zscaler from $290.00 to $235.00 and set a “strong-buy” rating on the stock in a research note on Wednesday, September 4th. Finally, Rosenblatt Securities restated a “neutral” rating and set a $190.00 price objective on shares of Zscaler in a research note 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 issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Zscaler presently has an average rating of “Moderate Buy” and a consensus price target of $217.18.

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.