ProShare Advisors LLC Sells 18,210 Shares of Zscaler, Inc. (NASDAQ:ZS)

ProShare Advisors LLC cut its holdings in shares of Zscaler, Inc. (NASDAQ:ZS) by 12.4% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 128,803 shares of the company’s stock after selling 18,210 shares during the quarter. ProShare Advisors LLC’s holdings in Zscaler were worth $24,755,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ZS. Quest Partners LLC purchased a new stake in Zscaler in the second quarter worth about $28,000. Jones Financial Companies Lllp purchased a new position in shares of Zscaler in the 4th quarter valued at approximately $29,000. Quadrant Capital Group LLC boosted its position in shares of Zscaler by 66.7% during the fourth quarter. Quadrant Capital Group LLC now owns 175 shares of the company’s stock valued at $39,000 after purchasing an additional 70 shares in the last quarter. Asset Dedication LLC grew its stake in Zscaler by 436.8% in the second quarter. Asset Dedication LLC now owns 204 shares of the company’s stock worth $39,000 after purchasing an additional 166 shares during the period. Finally, American Capital Advisory LLC bought a new position in Zscaler in the second quarter worth $50,000. Institutional investors own 46.45% of the company’s stock.

Insiders Place Their Bets

In other Zscaler news, CEO Jagtar Singh Chaudhry sold 2,852 shares of the stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $171.28, for a total value of $488,490.56. Following the completion of the sale, the chief executive officer now owns 361,432 shares in the company, valued at approximately $61,906,072.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CEO Jagtar Singh Chaudhry sold 2,852 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 $488,490.56. Following the transaction, the chief executive officer now directly owns 361,432 shares of the company’s stock, valued at approximately $61,906,072.96. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Remo Canessa sold 8,455 shares of the stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $171.28, for a total transaction of $1,448,172.40. Following the sale, the chief financial officer now directly owns 231,793 shares of the company’s stock, valued at $39,701,505.04. The disclosure for this sale can be found here. Insiders sold a total of 16,120 shares of company stock worth $2,761,034 over the last three months. 19.20% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of analysts have recently commented on ZS shares. Canaccord Genuity Group reduced their target price on shares of Zscaler from $260.00 to $220.00 and set a “buy” rating on the stock in a research report on Tuesday, June 4th. Scotiabank cut their price objective on shares of Zscaler from $210.00 to $195.00 and set a “sector outperform” rating on the stock in a report on Wednesday, September 4th. BMO Capital Markets decreased their target price on shares of Zscaler from $208.00 to $197.00 and set an “outperform” rating for the company in a research note on Wednesday, September 4th. Mizuho cut Zscaler from an “outperform” rating to a “neutral” rating and set a $220.00 price target on the stock. in a research report on Tuesday, July 16th. Finally, Loop Capital cut their price target on Zscaler from $180.00 to $165.00 and set a “hold” rating on the stock in a research note on Wednesday, September 4th. Nine investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $218.39.

Zscaler Stock Performance

Shares of Zscaler stock opened at $174.79 on Tuesday. The stock has a market cap of $26.42 billion, a P/E ratio of -342.73 and a beta of 0.82. The stock’s fifty day moving average is $180.69 and its 200 day moving average is $182.64. Zscaler, Inc. has a one year low of $146.59 and a one year high of $259.61.

Zscaler (NASDAQ:ZS) last posted its quarterly earnings data on Tuesday, September 3rd. The company reported $0.88 earnings per share for the quarter, beating analysts’ consensus estimates of $0.70 by $0.18. The firm had revenue of $592.90 million for the quarter, compared to analysts’ expectations of $567.46 million. Zscaler had a negative return on equity of 3.46% and a negative net margin of 2.66%. The business’s quarterly revenue was up 30.3% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.17) EPS. Analysts predict 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.