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

Cullinan Associates Inc. decreased its position in shares of Zscaler, Inc. (NASDAQ:ZS) by 33.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor 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 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Aviance Capital Partners LLC bought a new position in shares of Zscaler during the 1st quarter worth $1,348,000. Deltec Asset Management LLC bought a new position in shares of Zscaler during the 1st quarter worth $2,678,000. Hennion & Walsh Asset Management Inc. grew its stake in shares of Zscaler by 109.1% during the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 3,455 shares of the company’s stock worth $666,000 after acquiring an additional 1,803 shares during the period. KRS Capital Management LLC grew its stake in shares of Zscaler by 45.2% during the 1st quarter. KRS Capital Management LLC now owns 3,151 shares of the company’s stock worth $607,000 after acquiring an additional 981 shares during the period. Finally, Norway Savings Bank grew its stake in shares of Zscaler by 33.7% during the 1st quarter. Norway Savings Bank now owns 3,770 shares of the company’s stock worth $726,000 after acquiring an additional 950 shares during the period. Institutional investors own 46.45% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on ZS. Barclays raised their target price on Zscaler from $205.00 to $210.00 and gave the stock an “overweight” rating in a research note on Friday, May 31st. BTIG Research cut their target price on Zscaler from $258.00 to $220.00 and set a “buy” rating for the company in a research note on Friday, May 31st. JPMorgan Chase & Co. raised Zscaler from a “neutral” rating to an “overweight” rating and raised their price target for the company from $205.00 to $230.00 in a report on Friday, June 14th. Loop Capital lowered their price target on Zscaler from $225.00 to $180.00 and set a “hold” rating on the stock in a report on Friday, May 31st. Finally, Mizuho lowered their price target on Zscaler from $240.00 to $220.00 and set a “buy” rating on the stock in a report on Friday, May 31st. Six research analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Zscaler currently has an average rating of “Moderate Buy” and a consensus target price of $225.21.

Insider Buying and Selling

In other Zscaler news, CFO Remo Canessa sold 7,981 shares of the stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $177.21, for a total transaction of $1,414,313.01. Following the sale, the chief financial officer now owns 243,486 shares of the company’s stock, valued at approximately $43,148,154.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 19.20% of the stock is owned by insiders.

Zscaler Price Performance

Shares of NASDAQ 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 business’s 50 day moving average price is $177.83 and its 200-day moving average price is $202.32. Zscaler, Inc. has a fifty-two week low of $131.59 and a fifty-two week high of $259.61.

Zscaler (NASDAQ:ZS) last announced its quarterly earnings data on Thursday, May 30th. The company reported $0.15 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $553.20 million for the quarter, compared to analysts’ expectations of $535.55 million. As a group, equities research analysts forecast that Zscaler, Inc. will post -0.34 earnings per share for the current year.

Zscaler 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.