Zscaler, Inc. (NASDAQ:ZS) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC trimmed its holdings in Zscaler, Inc. (NASDAQ:ZS) by 9.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 273,705 shares of the company’s stock after selling 28,621 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.18% of Zscaler worth $52,724,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in ZS. LPL Financial LLC grew its holdings in shares of Zscaler by 10.2% in the 3rd quarter. LPL Financial LLC now owns 44,546 shares of the company’s stock worth $6,931,000 after acquiring an additional 4,121 shares during the last quarter. O Shaughnessy Asset Management LLC acquired a new stake in shares of Zscaler during the third quarter worth approximately $437,000. Gotham Asset Management LLC grew its position in Zscaler by 14.5% during the third quarter. Gotham Asset Management LLC now owns 5,263 shares of the company’s stock valued at $819,000 after purchasing an additional 668 shares in the last quarter. AQR Capital Management LLC increased its stake in Zscaler by 272.6% in the 3rd quarter. AQR Capital Management LLC now owns 41,894 shares of the company’s stock valued at $6,518,000 after buying an additional 30,650 shares during the period. Finally, GSA Capital Partners LLP purchased a new stake in Zscaler in the 3rd quarter worth approximately $1,157,000. Institutional investors own 46.45% of the company’s stock.

Insiders Place Their Bets

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

Zscaler Price Performance

Shares of ZS opened at $196.66 on Wednesday. Zscaler, Inc. has a one year low of $131.59 and a one year high of $259.61. The business’s 50 day simple moving average is $177.83 and its 200-day simple moving average is $202.32. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.75 and a quick ratio of 1.75.

Zscaler (NASDAQ:ZS) last posted its quarterly earnings data on Thursday, May 30th. The company reported $0.15 EPS for the quarter, topping 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 company had revenue of $553.20 million for the quarter, compared to analyst estimates of $535.55 million. As a group, equities analysts anticipate that Zscaler, Inc. will post -0.34 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on ZS shares. Morgan Stanley dropped their price target on shares of Zscaler from $214.00 to $202.00 and set an “equal weight” rating on the stock in a research note on Friday, May 24th. UBS Group reduced their price objective on shares of Zscaler from $300.00 to $270.00 and set a “buy” rating for the company in a research note on Wednesday, May 29th. Needham & Company LLC reiterated a “strong-buy” rating and issued a $290.00 target price on shares of Zscaler in a report on Friday, June 14th. Oppenheimer restated an “outperform” rating and set a $260.00 price target (down from $290.00) on shares of Zscaler in a report on Friday, May 31st. Finally, Royal Bank of Canada lifted their price objective on Zscaler from $215.00 to $230.00 and gave the stock an “outperform” rating in a research note on Friday, May 31st. Six 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 company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $225.21.

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.