Park Avenue Securities LLC Trims Holdings in Zscaler, Inc. (NASDAQ:ZS)

Park Avenue Securities LLC decreased its holdings in shares of Zscaler, Inc. (NASDAQ:ZS) by 9.8% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,637 shares of the company’s stock after selling 177 shares during the quarter. Park Avenue Securities LLC’s holdings in Zscaler were worth $315,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ZS. Spire Wealth Management lifted its position in Zscaler by 24.5% during the fourth quarter. Spire Wealth Management now owns 249 shares of the company’s stock valued at $58,000 after buying an additional 49 shares in the last quarter. US Bancorp DE lifted its holdings in shares of Zscaler by 0.3% during the 4th quarter. US Bancorp DE now owns 22,944 shares of the company’s stock valued at $5,083,000 after acquiring an additional 59 shares in the last quarter. B. Riley Wealth Advisors Inc. boosted its position in Zscaler by 1.7% during the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 3,761 shares of the company’s stock worth $585,000 after purchasing an additional 63 shares during the period. Lindbrook Capital LLC increased its holdings in Zscaler by 41.1% in the 4th quarter. Lindbrook Capital LLC now owns 237 shares of the company’s stock valued at $53,000 after purchasing an additional 69 shares in the last quarter. Finally, Quadrant Capital Group LLC raised its position in Zscaler by 66.7% in 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 during the period. Hedge funds and other institutional investors own 46.45% of the company’s stock.

Insider Activity at Zscaler

In related news, CFO Remo Canessa sold 7,981 shares of the stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $177.21, for a total transaction of $1,414,313.01. Following the completion of the sale, the chief financial officer now owns 243,486 shares in the company, valued at approximately $43,148,154.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 19.20% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have issued reports on ZS shares. Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $182.00 price objective (down previously from $275.00) on shares of Zscaler in a research report on Tuesday, May 28th. The Goldman Sachs Group raised their target price on Zscaler from $189.00 to $215.00 and gave the company a “neutral” rating in a research note on Monday, March 4th. Mizuho decreased their price objective on Zscaler from $240.00 to $220.00 and set a “buy” rating for the company in a report on Friday, May 31st. Susquehanna dropped their price target on shares of Zscaler from $275.00 to $210.00 and set a “positive” rating on the stock in a research report on Friday, May 31st. Finally, Robert W. Baird cut their price objective on Zscaler from $265.00 to $260.00 and set an “outperform” rating for the company in a report on Friday, May 24th. Six equities research analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $225.21.

Zscaler Price Performance

Shares of NASDAQ:ZS opened at $192.19 on Monday. Zscaler, Inc. has a twelve month low of $131.59 and a twelve month high of $259.61. The company has a quick ratio of 1.75, a current ratio of 1.75 and a debt-to-equity ratio of 1.04. The company has a market cap of $29.05 billion, a price-to-earnings ratio of -376.84 and a beta of 0.85. The business has a 50 day moving average price of $176.89 and a 200 day moving average price of $202.62.

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