Kingsview Wealth Management LLC Sells 150 Shares of Zscaler, Inc. (NASDAQ:ZS)

Kingsview Wealth Management LLC reduced its stake in Zscaler, Inc. (NASDAQ:ZS) by 5.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,689 shares of the company’s stock after selling 150 shares during the period. Kingsview Wealth Management LLC’s holdings in Zscaler were worth $460,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ZS. Quest Partners LLC bought a new position in shares of Zscaler during the second quarter valued at approximately $28,000. Asset Dedication LLC boosted its stake in shares of Zscaler by 436.8% during the second quarter. Asset Dedication LLC now owns 204 shares of the company’s stock valued at $39,000 after purchasing an additional 166 shares in the last quarter. American Capital Advisory LLC bought a new position in shares of Zscaler during the second quarter valued at approximately $50,000. GAMMA Investing LLC boosted its stake in shares of Zscaler by 21.3% during the second quarter. GAMMA Investing LLC now owns 382 shares of the company’s stock valued at $73,000 after purchasing an additional 67 shares in the last quarter. Finally, Quarry LP boosted 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 acquiring an additional 331 shares in the last quarter. 46.45% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

ZS has been the subject of several recent analyst reports. Cantor Fitzgerald upgraded shares of Zscaler to a “hold” rating in a research note on Monday, November 18th. JMP Securities restated a “market outperform” rating and issued a $270.00 target price on shares of Zscaler in a research note on Monday, November 4th. Oppenheimer lowered their target price on shares of Zscaler from $260.00 to $230.00 and set an “outperform” rating for the company in a research note on Wednesday, September 4th. Morgan Stanley raised their target price on shares of Zscaler from $202.00 to $215.00 and gave the company an “equal weight” rating in a research note on Monday, August 26th. Finally, Susquehanna restated a “positive” rating and issued a $210.00 target price on shares of Zscaler in a research note on Thursday, September 5th. Ten investment analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Zscaler has a consensus rating of “Moderate Buy” and a consensus target price of $220.48.

Insider Activity

In other news, insider Michael J. Rich sold 4,813 shares of Zscaler 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 sale, the insider now owns 103,259 shares in the company, valued at $17,686,201.52. This trade represents a 4.45 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Andrew William Fraser Brown sold 8,000 shares of Zscaler stock in a transaction dated Monday, September 23rd. The shares were 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 23.59 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 30,502 shares of company stock worth $5,256,651 over the last 90 days. 19.20% of the stock is currently owned by company insiders.

Zscaler Stock Performance

ZS opened at $204.96 on Friday. Zscaler, Inc. has a fifty-two week low of $153.45 and a fifty-two week high of $259.61. The company has a fifty day moving average of $188.79 and a two-hundred day moving average of $184.36. The stock has a market capitalization of $31.45 billion, a price-to-earnings ratio of -512.39 and a beta of 0.82.

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

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.