Prime Capital Investment Advisors LLC Lowers Position in Zscaler, Inc. (NASDAQ:ZS)

Prime Capital Investment Advisors LLC decreased its position in Zscaler, Inc. (NASDAQ:ZS) by 8.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,306 shares of the company’s stock after selling 125 shares during the period. Prime Capital Investment Advisors LLC’s holdings in Zscaler were worth $223,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in Zscaler by 1.3% during the first quarter. Vanguard Group Inc. now owns 8,961,774 shares of the company’s stock worth $1,726,307,000 after buying an additional 118,002 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in Zscaler by 5.3% during the second quarter. Bank of New York Mellon Corp now owns 496,047 shares of the company’s stock worth $95,335,000 after buying an additional 25,181 shares in the last quarter. Federated Hermes Inc. boosted its holdings in Zscaler by 18.3% during the second quarter. Federated Hermes Inc. now owns 394,698 shares of the company’s stock worth $75,857,000 after buying an additional 61,037 shares in the last quarter. Ensign Peak Advisors Inc raised its position in Zscaler by 14.4% during the second quarter. Ensign Peak Advisors Inc now owns 295,525 shares of the company’s stock worth $56,797,000 after acquiring an additional 37,137 shares during the last quarter. Finally, International Assets Investment Management LLC raised its position in Zscaler by 13,498.6% during the third quarter. International Assets Investment Management LLC now owns 285,299 shares of the company’s stock worth $48,769,000 after acquiring an additional 283,201 shares during the last quarter. Hedge funds and other institutional investors own 46.45% of the company’s stock.

Insider Activity at Zscaler

In related news, insider Robert Schlossman sold 4,947 shares of the stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $170.22, for a total value of $842,078.34. Following the completion of the transaction, the insider now owns 107,241 shares in the company, valued at $18,254,563.02. This represents a 4.41 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Andrew William Fraser Brown sold 8,000 shares of the firm’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $174.10, for a total transaction of $1,392,800.00. Following the transaction, the director now owns 25,907 shares of the company’s stock, valued at approximately $4,510,408.70. This trade represents a 23.59 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 30,502 shares of company stock worth $5,256,651 in the last 90 days. Corporate insiders own 19.20% of the company’s stock.

Zscaler Stock Down 3.4 %

ZS stock opened at $201.47 on Monday. Zscaler, Inc. has a fifty-two week low of $153.45 and a fifty-two week high of $259.61. The firm’s 50-day simple moving average is $182.23 and its 200 day simple moving average is $182.66. The stock has a market cap of $30.72 billion, a PE ratio of -503.68 and a beta of 0.82.

Zscaler (NASDAQ:ZS) last released its quarterly earnings data on Tuesday, September 3rd. The company reported ($0.05) earnings per share 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 analysts’ expectations of $567.46 million. Zscaler had a negative net margin of 2.66% and a negative return on equity of 3.46%. The company’s revenue for the quarter was up 30.3% compared to the same quarter last year. During the same quarter last year, the company earned ($0.17) EPS. Equities analysts forecast that Zscaler, Inc. will post -0.97 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on ZS shares. Oppenheimer cut their target price on shares of Zscaler from $260.00 to $230.00 and set an “outperform” rating for the company in a research report on Wednesday, September 4th. Needham & Company LLC cut their target price on shares of Zscaler from $290.00 to $235.00 and set a “strong-buy” rating for the company in a research report on Wednesday, September 4th. JMP Securities restated a “market outperform” rating and set a $270.00 target price on shares of Zscaler in a research report on Monday, November 4th. Wells Fargo & Company cut their target price on shares of Zscaler from $182.00 to $180.00 and set an “equal weight” rating for the company in a research report on Wednesday, September 4th. Finally, Citigroup cut their price objective on shares of Zscaler from $240.00 to $230.00 and set a “buy” rating for the company in a research report on Friday, October 4th. Ten analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $217.18.

About Zscaler

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.