Janney Montgomery Scott LLC Trims Stock Holdings in Zscaler, Inc. (NASDAQ:ZS)

Janney Montgomery Scott LLC reduced its holdings in shares of Zscaler, Inc. (NASDAQ:ZS) by 16.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,162 shares of the company’s stock after selling 1,837 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Zscaler were worth $1,566,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of ZS. Quest Partners LLC purchased a new stake in shares of Zscaler in the second quarter worth about $28,000. Asset Dedication LLC lifted its stake in Zscaler by 436.8% in the 2nd quarter. Asset Dedication LLC now owns 204 shares of the company’s stock worth $39,000 after purchasing an additional 166 shares in the last quarter. American Capital Advisory LLC purchased a new position in shares of Zscaler during the 2nd quarter valued at $50,000. GAMMA Investing LLC increased its holdings in shares of Zscaler by 21.3% in the second quarter. GAMMA Investing LLC now owns 382 shares of the company’s stock worth $73,000 after purchasing an additional 67 shares during the period. Finally, Quarry LP raised its position in shares of Zscaler by 613.0% in the second quarter. Quarry LP now owns 385 shares of the company’s stock worth $74,000 after buying an additional 331 shares in the last quarter. 46.45% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on ZS. Susquehanna restated a “positive” rating and issued a $210.00 target price on shares of Zscaler in a research note on Thursday, September 5th. Oppenheimer decreased their price objective 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. BTIG Research dropped their target price on shares of Zscaler from $220.00 to $205.00 and set a “buy” rating for the company in a research report on Wednesday, September 4th. JPMorgan Chase & Co. lowered their price objective on shares of Zscaler from $230.00 to $220.00 and set an “overweight” rating on the stock in a research report on Wednesday, September 4th. Finally, Bank of America lowered shares of Zscaler from a “buy” rating to a “neutral” rating and cut their target price for the stock from $265.00 to $195.00 in a research report on Wednesday, September 4th. Ten research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $217.18.

Insiders Place Their Bets

In other news, insider Robert Schlossman sold 1,435 shares of the stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $181.70, for a total value of $260,739.50. Following the sale, the insider now directly owns 105,806 shares of the company’s stock, valued at approximately $19,224,950.20. This represents a 1.34 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, 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 value of $824,370.64. Following the completion of the transaction, the insider now directly owns 103,259 shares of the company’s stock, valued at approximately $17,686,201.52. This represents a 4.45 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 30,502 shares of company stock worth $5,256,651. 19.20% of the stock is owned by corporate insiders.

Zscaler Trading Down 0.6 %

Shares of Zscaler stock opened at $208.50 on Friday. The company’s fifty day simple moving average is $181.34 and its two-hundred day simple moving average is $182.36. Zscaler, Inc. has a 12-month low of $153.45 and a 12-month high of $259.61. The company has a market cap of $31.79 billion, a P/E ratio of -521.24 and a beta of 0.82.

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