Mercer Global Advisors Inc. ADV Cuts Stock Position in Zscaler, Inc. (NASDAQ:ZS)

Mercer Global Advisors Inc. ADV cut its stake in Zscaler, Inc. (NASDAQ:ZS) by 3.3% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,078 shares of the company’s stock after selling 71 shares during the period. Mercer Global Advisors Inc. ADV’s holdings in Zscaler were worth $399,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Sierra Summit Advisors LLC acquired a new position in shares of Zscaler in the 4th quarter valued at $5,609,000. State Board of Administration of Florida Retirement System lifted its stake in shares of Zscaler by 6.9% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 103,937 shares of the company’s stock valued at $20,021,000 after purchasing an additional 6,683 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in shares of Zscaler by 9.1% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 116,691 shares of the company’s stock valued at $22,478,000 after purchasing an additional 9,689 shares during the period. Wealthcare Advisory Partners LLC lifted its stake in shares of Zscaler by 40.0% in the 1st quarter. Wealthcare Advisory Partners LLC now owns 2,438 shares of the company’s stock valued at $470,000 after purchasing an additional 696 shares during the period. Finally, Norden Group LLC acquired a new position in shares of Zscaler in the 1st quarter valued at $846,000. 46.45% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Michael J. Rich sold 4,813 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $171.28, for a total value of $824,370.64. Following the completion of the sale, the insider now directly owns 103,259 shares in the company, valued at approximately $17,686,201.52. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, insider Michael J. Rich sold 4,813 shares of the business’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $171.28, for a total value of $824,370.64. Following the transaction, the insider now owns 103,259 shares in the company, valued at approximately $17,686,201.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Jagtar Singh Chaudhry sold 2,852 shares of Zscaler stock in a transaction that occurred on 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 approximately $61,906,072.96. The disclosure for this sale can be found here. Insiders sold a total of 24,120 shares of company stock worth $4,153,834 in the last three months. Company insiders own 19.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Rosenblatt Securities reissued a “neutral” rating and issued a $190.00 price target on shares of Zscaler in a report on Wednesday, September 4th. Scotiabank dropped their target price on shares of Zscaler from $210.00 to $195.00 and set a “sector outperform” rating for the company in a report on Wednesday, September 4th. Stifel Nicolaus reaffirmed a “buy” rating and set a $220.00 target price on shares of Zscaler in a report on Wednesday, September 4th. JMP Securities reaffirmed a “market outperform” rating and set a $270.00 target price on shares of Zscaler in a report on Wednesday, September 4th. Finally, Wells Fargo & Company dropped their target price on shares of Zscaler from $182.00 to $180.00 and set an “equal weight” rating for the company in a report on Wednesday, September 4th. Nine analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Zscaler has an average rating of “Moderate Buy” and a consensus price target of $218.39.

Zscaler Trading Up 0.5 %

Shares of NASDAQ ZS opened at $171.77 on Friday. The firm has a market cap of $25.96 billion, a P/E ratio of -336.80 and a beta of 0.82. Zscaler, Inc. has a 1-year low of $146.71 and a 1-year high of $259.61. The business’s 50 day moving average is $178.92 and its 200-day moving average is $181.98.

Zscaler (NASDAQ:ZS) last issued its quarterly earnings results on Tuesday, September 3rd. The company reported ($0.05) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.09. The business had revenue of $592.90 million for the quarter, compared to the consensus estimate of $567.46 million. Zscaler had a negative return on equity of 3.46% and a negative net margin of 2.66%. The firm’s quarterly revenue was up 30.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.17) earnings per share. Analysts forecast that Zscaler, Inc. will post -0.92 EPS 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.