Tobam Cuts Holdings in Zscaler, Inc. (NASDAQ:ZS)

Tobam decreased its position in shares of Zscaler, Inc. (NASDAQ:ZS) by 41.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 220 shares of the company’s stock after selling 153 shares during the period. Tobam’s holdings in Zscaler were worth $49,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. B. Riley Wealth Advisors Inc. lifted its holdings in shares of Zscaler by 1.7% in the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 3,761 shares of the company’s stock valued at $585,000 after acquiring an additional 63 shares during the last quarter. International Assets Investment Management LLC lifted its holdings in shares of Zscaler by 2.7% in the 1st quarter. International Assets Investment Management LLC now owns 2,558 shares of the company’s stock valued at $617,000 after acquiring an additional 67 shares during the last quarter. Xponance Inc. lifted its holdings in shares of Zscaler by 0.6% in the 3rd quarter. Xponance Inc. now owns 12,411 shares of the company’s stock valued at $1,931,000 after acquiring an additional 68 shares during the last quarter. Bouvel Investment Partners LLC lifted its stake in Zscaler by 0.5% in the third quarter. Bouvel Investment Partners LLC now owns 16,641 shares of the company’s stock worth $2,589,000 after purchasing an additional 76 shares during the last quarter. Finally, CWM LLC boosted its position in shares of Zscaler by 13.8% during the third quarter. CWM LLC now owns 637 shares of the company’s stock valued at $99,000 after buying an additional 77 shares during the period. Hedge funds and other institutional investors own 46.45% of the company’s stock.

Insider Buying and Selling at Zscaler

In related news, CEO Jagtar Singh Chaudhry sold 2,115 shares of the stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $193.15, for a total value of $408,512.25. Following the completion of the sale, the chief executive officer now owns 367,152 shares of the company’s stock, valued at $70,915,408.80. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Zscaler news, insider Syam Nair sold 2,893 shares of the firm’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $193.15, for a total transaction of $558,782.95. Following the completion of the sale, the insider now owns 137,294 shares of the company’s stock, valued at $26,518,336.10. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Jagtar Singh Chaudhry sold 2,115 shares of the firm’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $193.15, for a total value of $408,512.25. Following the sale, the chief executive officer now directly owns 367,152 shares of the company’s stock, valued at approximately $70,915,408.80. The disclosure for this sale can be found here. Insiders sold 33,715 shares of company stock valued at $7,437,172 over the last quarter. 19.20% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Robert W. Baird boosted their price objective on Zscaler from $255.00 to $265.00 and gave the company an “outperform” rating in a report on Friday, March 1st. Sanford C. Bernstein dropped their price objective on Zscaler from $311.00 to $280.00 and set an “outperform” rating for the company in a report on Friday, March 1st. Susquehanna assumed coverage on Zscaler in a report on Friday, December 15th. They set a “positive” rating and a $275.00 price objective for the company. JMP Securities reiterated a “market outperform” rating and issued a $270.00 target price on shares of Zscaler in a report on Friday, March 1st. Finally, Oppenheimer upped their target price on Zscaler from $245.00 to $290.00 and gave the stock an “outperform” rating in a report on Wednesday, January 3rd. Six equities research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $230.55.

Zscaler Stock Performance

Shares of ZS stock opened at $181.41 on Friday. The company has a market capitalization of $27.19 billion, a P/E ratio of -190.96 and a beta of 0.80. The business’s 50 day moving average is $213.11 and its two-hundred day moving average is $201.96. The company has a current ratio of 1.98, a quick ratio of 1.98 and a debt-to-equity ratio of 1.19. Zscaler, Inc. has a 12-month low of $84.93 and a 12-month high of $259.61.

Zscaler (NASDAQ:ZS) last issued its quarterly earnings results on Thursday, February 29th. The company reported ($0.16) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.08. Zscaler had a negative return on equity of 14.60% and a negative net margin of 7.32%. The company had revenue of $525.00 million for the quarter, compared to the consensus estimate of $507.56 million. Analysts expect that Zscaler, Inc. will post -0.81 EPS for the current fiscal year.

Zscaler 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.