Zscaler, Inc. (NASDAQ:ZS) Shares Sold by Evolutionary Tree Capital Management LLC

Evolutionary Tree Capital Management LLC reduced its position in shares of Zscaler, Inc. (NASDAQ:ZS) by 22.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,174 shares of the company’s stock after selling 1,503 shares during the quarter. Evolutionary Tree Capital Management LLC’s holdings in Zscaler were worth $994,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. 1832 Asset Management L.P. acquired a new position in Zscaler during the fourth quarter worth $217,683,000. Norges Bank acquired a new position in shares of Zscaler during the 4th quarter worth about $117,599,000. Quadrature Capital Ltd purchased a new position in Zscaler in the 1st quarter valued at about $47,217,000. Vanguard Group Inc. boosted its holdings in Zscaler by 2.4% in the 4th quarter. Vanguard Group Inc. now owns 8,843,772 shares of the company’s stock worth $1,959,426,000 after buying an additional 206,908 shares during the last quarter. Finally, Jupiter Asset Management Ltd. acquired a new position in shares of Zscaler during the first quarter valued at approximately $27,954,000. 46.45% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on ZS shares. Sanford C. Bernstein lowered their price target on Zscaler from $280.00 to $270.00 and set an “outperform” rating on the stock in a research note on Friday, May 31st. Piper Sandler lowered their target price on shares of Zscaler from $255.00 to $215.00 and set an “overweight” rating on the stock in a research note on Wednesday, September 4th. Cantor Fitzgerald reduced their target price on shares of Zscaler from $200.00 to $170.00 and set a “neutral” rating for the company in a research report on Wednesday, September 4th. Oppenheimer lowered their price target on shares of Zscaler from $260.00 to $230.00 and set an “outperform” rating on the stock in a research report on Wednesday, September 4th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $270.00 price objective on shares of Zscaler in a report on Wednesday, September 4th. Nine analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Zscaler has an average rating of “Moderate Buy” and a consensus price target of $218.39.

Insider Activity

In related news, CEO Jagtar Singh Chaudhry sold 2,852 shares of the company’s 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 $488,490.56. Following the sale, the chief executive officer now directly owns 361,432 shares in the company, valued at $61,906,072.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Zscaler news, insider Michael J. Rich sold 4,813 shares of Zscaler stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $171.28, for a total transaction of $824,370.64. Following the completion of the sale, the insider now directly owns 103,259 shares of the company’s stock, valued at approximately $17,686,201.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jagtar Singh Chaudhry sold 2,852 shares of the stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $171.28, for a total value of $488,490.56. Following the completion of the transaction, the chief executive officer now owns 361,432 shares in the company, valued at approximately $61,906,072.96. The disclosure for this sale can be found here. In the last quarter, insiders sold 16,120 shares of company stock worth $2,761,034. 19.20% of the stock is currently owned by company insiders.

Zscaler Stock Performance

Shares of ZS stock opened at $172.71 on Friday. Zscaler, Inc. has a fifty-two week low of $146.59 and a fifty-two week high of $259.61. The company has a 50 day moving average price of $181.28 and a 200 day moving average price of $182.97. The stock has a market capitalization of $26.10 billion, a P/E ratio of -338.65 and a beta of 0.82.

Zscaler (NASDAQ:ZS) last posted its quarterly earnings data on Tuesday, September 3rd. The company reported $0.88 earnings per share for the quarter, topping analysts’ consensus estimates of $0.70 by $0.18. The business had revenue of $592.90 million for the quarter, compared to analyst estimates of $567.46 million. Zscaler had a negative return on equity of 3.46% and a negative net margin of 2.66%. The company’s revenue was up 30.3% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.17) earnings per share. On average, research analysts forecast that Zscaler, Inc. will post -0.92 EPS for the current fiscal year.

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.