Zscaler, Inc. (NASDAQ:ZS) Stake Lessened by Victory Capital Management Inc.

Victory Capital Management Inc. lowered its holdings in Zscaler, Inc. (NASDAQ:ZS) by 7.4% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 120,512 shares of the company’s stock after selling 9,627 shares during the period. Victory Capital Management Inc.’s holdings in Zscaler were worth $20,600,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Quest Partners LLC purchased a new stake in shares of Zscaler in the second quarter valued at $28,000. Asset Dedication LLC increased 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 acquiring an additional 166 shares during the last quarter. American Capital Advisory LLC acquired a new position in shares of Zscaler in the second quarter worth $50,000. GAMMA Investing LLC increased 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 acquiring an additional 67 shares during the last quarter. Finally, Quarry LP increased 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 acquiring an additional 331 shares during the last quarter. Hedge funds and other institutional investors own 46.45% of the company’s stock.

Insider Activity at Zscaler

In other Zscaler news, 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 transaction of $488,490.56. Following the completion of the transaction, the chief executive officer now owns 361,432 shares in the company, valued at $61,906,072.96. This trade represents a 0.78 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Robert Schlossman sold 1,435 shares of the firm’s stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $181.70, for a total transaction of $260,739.50. Following the transaction, the insider now owns 105,806 shares of the company’s stock, valued at approximately $19,224,950.20. This represents a 1.34 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 30,502 shares of company stock worth $5,256,651. Company insiders own 19.20% of the company’s stock.

Zscaler Stock Performance

NASDAQ ZS opened at $202.85 on Tuesday. The firm has a 50-day simple moving average of $183.11 and a 200 day simple moving average of $182.84. Zscaler, Inc. has a twelve month low of $153.45 and a twelve month high of $259.61. 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 net margin of 2.66% and a negative return on equity of 3.46%. The business had revenue of $592.90 million during the quarter, compared to analysts’ expectations of $567.46 million. During the same quarter last year, the company earned ($0.17) earnings per share. The firm’s revenue was up 30.3% on a year-over-year basis. Research analysts forecast that Zscaler, Inc. will post -0.97 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on ZS shares. Wedbush dropped their price target on shares of Zscaler from $260.00 to $220.00 and set an “outperform” rating on the stock in a research note on Wednesday, September 4th. UBS Group dropped their price target on shares of Zscaler from $270.00 to $250.00 and set a “buy” rating on the stock in a research note on Wednesday, September 4th. Bank of America downgraded shares of Zscaler from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $265.00 to $195.00 in a research note on Wednesday, September 4th. Wells Fargo & Company lowered their target price on shares of Zscaler from $182.00 to $180.00 and set an “equal weight” rating on the stock in a research report on Wednesday, September 4th. Finally, Barclays lowered their target price on shares of Zscaler from $230.00 to $200.00 and set an “overweight” rating on the stock in a research report on Wednesday, September 4th. Ten equities research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $217.18.

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.