ProShare Advisors LLC Sells 18,210 Shares of Zscaler, Inc. (NASDAQ:ZS)

ProShare Advisors LLC lowered its stake in Zscaler, Inc. (NASDAQ:ZS) by 12.4% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 128,803 shares of the company’s stock after selling 18,210 shares during the quarter. ProShare Advisors LLC owned 0.09% of Zscaler worth $24,755,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of ZS. US Bancorp DE grew its position in Zscaler by 0.3% in the 4th quarter. US Bancorp DE now owns 22,944 shares of the company’s stock valued at $5,083,000 after purchasing an additional 59 shares during the period. Kovack Advisors Inc. increased its position in shares of Zscaler by 3.4% during the first quarter. Kovack Advisors Inc. now owns 2,042 shares of the company’s stock worth $393,000 after acquiring an additional 67 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of Zscaler by 21.3% in the 2nd quarter. GAMMA Investing LLC now owns 382 shares of the company’s stock worth $73,000 after acquiring an additional 67 shares during the last quarter. Quadrant Capital Group LLC boosted its stake in Zscaler by 66.7% during the 4th 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 last quarter. Finally, Janney Montgomery Scott LLC boosted its stake in Zscaler by 1.3% during the 4th quarter. Janney Montgomery Scott LLC now owns 5,665 shares of the company’s stock valued at $1,255,000 after purchasing an additional 70 shares during the last quarter. Institutional investors and hedge funds own 46.45% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on ZS. Scotiabank dropped their target price on Zscaler from $210.00 to $195.00 and set a “sector outperform” rating on the stock in a report on Wednesday, September 4th. Stifel Nicolaus reiterated a “buy” rating and issued a $220.00 target price on shares of Zscaler in a research note on Wednesday, September 4th. JMP Securities reissued a “market outperform” rating and set a $270.00 price target on shares of Zscaler in a research report on Wednesday, September 4th. Oppenheimer reduced their price objective on shares of Zscaler from $260.00 to $230.00 and set an “outperform” rating for the company in a research report on Wednesday, September 4th. Finally, Barclays dropped their target price on shares of Zscaler from $230.00 to $200.00 and set an “overweight” rating on the stock in a research report on Wednesday, September 4th. Nine analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock 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 firm’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 value of $488,490.56. Following the sale, the chief executive officer now directly owns 361,432 shares of the company’s stock, valued at $61,906,072.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CFO Remo Canessa sold 8,455 shares of the stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $171.28, for a total transaction of $1,448,172.40. Following the transaction, the chief financial officer now directly owns 231,793 shares in the company, valued at approximately $39,701,505.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jagtar Singh Chaudhry sold 2,852 shares of the firm’s 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 transaction, the chief executive officer now directly owns 361,432 shares in the company, valued at $61,906,072.96. The disclosure for this sale can be found here. In the last 90 days, insiders sold 16,120 shares of company stock worth $2,761,034. 19.20% of the stock is currently owned by insiders.

Zscaler Trading Up 1.2 %

Shares of NASDAQ:ZS opened at $174.79 on Tuesday. The company has a 50 day moving average of $180.69 and a 200 day moving average of $182.64. The stock has a market cap of $26.42 billion, a P/E ratio of -342.73 and a beta of 0.82. Zscaler, Inc. has a 12 month low of $146.59 and a 12 month high of $259.61.

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