Cullinan Associates Inc. Sells 1,000 Shares of Zscaler, Inc. (NASDAQ:ZS)

Cullinan Associates Inc. lowered its holdings in shares of Zscaler, Inc. (NASDAQ:ZS) by 33.3% in the first quarter, Holdings Channel.com reports. The fund owned 2,000 shares of the company’s stock after selling 1,000 shares during the quarter. Cullinan Associates Inc.’s holdings in Zscaler were worth $385,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the business. Jones Financial Companies Lllp acquired a new position in Zscaler during the 4th quarter valued at about $29,000. Parkside Financial Bank & Trust increased its holdings in shares of Zscaler by 582.6% in the fourth quarter. Parkside Financial Bank & Trust now owns 157 shares of the company’s stock valued at $35,000 after purchasing an additional 134 shares during the period. GAMMA Investing LLC acquired a new position in shares of Zscaler in the fourth quarter valued at about $37,000. Quadrant Capital Group LLC boosted its stake in shares of Zscaler by 66.7% in the fourth quarter. Quadrant Capital Group LLC now owns 175 shares of the company’s stock worth $39,000 after buying an additional 70 shares during the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt boosted its stake in shares of Zscaler by 109.0% in the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 209 shares of the company’s stock worth $46,000 after buying an additional 109 shares during the last quarter. Hedge funds and other institutional investors own 46.45% of the company’s stock.

Zscaler Trading Down 1.0 %

ZS opened at $196.66 on Wednesday. The company has a current ratio of 1.75, a quick ratio of 1.75 and a debt-to-equity ratio of 1.04. The firm has a 50-day moving average price of $177.83 and a 200-day moving average price of $202.32. Zscaler, Inc. has a twelve month low of $131.59 and a twelve month high of $259.61.

Zscaler (NASDAQ:ZS) last released its quarterly earnings data on Thursday, May 30th. The company reported $0.15 EPS for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.39. Zscaler had a negative net margin of 3.62% and a negative return on equity of 5.84%. The company had revenue of $553.20 million during the quarter, compared to analyst estimates of $535.55 million. As a group, analysts predict that Zscaler, Inc. will post -0.34 EPS for the current year.

Analyst Upgrades and Downgrades

ZS has been the topic of a number of recent analyst reports. Royal Bank of Canada increased their price target on Zscaler from $215.00 to $230.00 and gave the stock an “outperform” rating in a research report on Friday, May 31st. Morgan Stanley cut their price target on Zscaler from $214.00 to $202.00 and set an “equal weight” rating for the company in a report on Friday, May 24th. Loop Capital cut their target price on Zscaler from $225.00 to $180.00 and set a “hold” rating for the company in a research note on Friday, May 31st. Needham & Company LLC reaffirmed a “strong-buy” rating and issued a $290.00 price objective on shares of Zscaler in a research note on Friday, June 14th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and issued a $208.00 price objective on shares of Zscaler in a research note on Friday, June 14th. Six research analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $225.21.

Insider Transactions at Zscaler

In related news, CFO Remo Canessa sold 4,689 shares of Zscaler stock in a transaction on Tuesday, June 18th. The shares were sold at an average price of $180.93, for a total value of $848,380.77. Following the transaction, the chief financial officer now directly owns 251,467 shares of the company’s stock, valued at $45,497,924.31. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 19.20% of the company’s stock.

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.