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

Allspring Global Investments Holdings LLC reduced its position in Zscaler, Inc. (NASDAQ:ZS) by 99.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 199 shares of the company’s stock after selling 126,617 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Zscaler were worth $34,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in ZS. Janney Montgomery Scott LLC grew its stake in Zscaler by 399.8% in the first quarter. Janney Montgomery Scott LLC now owns 28,311 shares of the company’s stock worth $5,454,000 after purchasing an additional 22,646 shares in the last quarter. Jennison Associates LLC grew its position in Zscaler by 20.8% in the first quarter. Jennison Associates LLC now owns 6,702 shares of the company’s stock worth $1,291,000 after buying an additional 1,153 shares during the last quarter. GSA Capital Partners LLP purchased a new position in Zscaler during the 1st quarter worth approximately $467,000. Mediolanum International Funds Ltd purchased a new position in Zscaler during the 1st quarter worth approximately $894,000. Finally, Geneos Wealth Management Inc. grew its position in Zscaler by 14.7% during the 1st quarter. Geneos Wealth Management Inc. now owns 5,093 shares of the company’s stock worth $981,000 after purchasing an additional 653 shares in the last quarter. 46.45% of the stock is owned by hedge funds and other institutional investors.

Zscaler Stock Performance

Shares of NASDAQ ZS opened at $186.91 on Wednesday. The company has a market cap of $28.50 billion, a PE ratio of -464.30 and a beta of 0.82. The business has a 50-day simple moving average of $179.37 and a two-hundred day simple moving average of $181.04. Zscaler, Inc. has a fifty-two week low of $153.45 and a fifty-two week high of $259.61.

Zscaler (NASDAQ:ZS) last announced its quarterly earnings results on Tuesday, September 3rd. The company reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.14) by $0.09. The company had revenue of $592.90 million during the quarter, compared to analysts’ expectations of $567.46 million. Zscaler had a negative return on equity of 3.46% and a negative net margin of 2.66%. Zscaler’s quarterly revenue was up 30.3% on a year-over-year basis. During the same period last year, the business earned ($0.17) earnings per share. On average, sell-side analysts predict that Zscaler, Inc. will post -0.95 earnings per share for the current fiscal year.

Analyst Ratings Changes

ZS has been the subject of several analyst reports. Stifel Nicolaus reaffirmed a “buy” rating and issued a $220.00 price objective on shares of Zscaler in a research note on Wednesday, September 4th. BNP Paribas assumed coverage on shares of Zscaler in a report on Tuesday, October 8th. They set a “neutral” rating and a $180.00 price objective on the stock. Morgan Stanley upped their target price on shares of Zscaler from $202.00 to $215.00 and gave the company an “equal weight” rating in a research note on Monday, August 26th. Mizuho cut shares of Zscaler from an “outperform” rating to a “neutral” rating and set a $220.00 target price on the stock. in a research note on Tuesday, July 16th. Finally, UBS Group decreased their price objective on shares of Zscaler from $270.00 to $250.00 and set a “buy” rating on the stock in a research note on Wednesday, September 4th. Ten analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $216.73.

Insiders Place Their Bets

In other Zscaler news, insider Michael J. Rich sold 4,813 shares of the business’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $171.28, for a total transaction of $824,370.64. Following the transaction, the insider now owns 103,259 shares of the company’s stock, valued at approximately $17,686,201.52. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, insider Michael J. Rich sold 4,813 shares of the company’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $171.28, for a total value of $824,370.64. Following the transaction, the insider now owns 103,259 shares of the company’s stock, valued at $17,686,201.52. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Robert Schlossman sold 4,947 shares of the company’s stock in a transaction on 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 directly owns 107,241 shares in the company, valued at approximately $18,254,563.02. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 30,502 shares of company stock valued at $5,256,651. Insiders own 19.20% of the company’s stock.

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.