Objective Capital Management LLC Takes Position in Zscaler, Inc. (NASDAQ:ZS)

Objective Capital Management LLC purchased a new stake in Zscaler, Inc. (NASDAQ:ZS) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 1,185 shares of the company’s stock, valued at approximately $203,000.

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

Insider Transactions at Zscaler

In related news, insider Michael J. Rich sold 4,813 shares of the business’s 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 transaction, the insider now directly owns 103,259 shares in the company, valued at $17,686,201.52. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, insider Robert Schlossman sold 1,435 shares of the company’s stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $181.70, for a total value of $260,739.50. Following the completion of the sale, the insider now owns 105,806 shares in the company, valued at $19,224,950.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Michael J. Rich sold 4,813 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 value 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. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 30,502 shares of company stock worth $5,256,651. Company insiders own 19.20% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on ZS shares. Oppenheimer dropped their price target on shares of Zscaler from $260.00 to $230.00 and set an “outperform” rating on the stock in a report on Wednesday, September 4th. JMP Securities restated a “market outperform” rating and set a $270.00 target price on shares of Zscaler in a research note on Monday, November 4th. BTIG Research reduced their price objective on shares of Zscaler from $220.00 to $205.00 and set a “buy” rating on the stock in a research report on Wednesday, September 4th. Scotiabank cut their target price on shares of Zscaler from $210.00 to $195.00 and set a “sector outperform” rating for the company in a report on Wednesday, September 4th. Finally, Wedbush dropped their price objective on shares of Zscaler from $260.00 to $220.00 and set an “outperform” rating for the company in a research note on Wednesday, September 4th. Ten equities research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $216.73.

Zscaler Stock Down 0.5 %

Shares of NASDAQ ZS opened at $195.73 on Friday. The stock has a market capitalization of $29.85 billion, a price-to-earnings ratio of -489.31 and a beta of 0.82. The stock’s fifty day simple moving average is $179.05 and its 200 day simple moving average is $181.56. Zscaler, Inc. has a 52-week low of $153.45 and a 52-week high of $259.61.

Zscaler (NASDAQ:ZS) last released its quarterly earnings data on Tuesday, September 3rd. The company reported ($0.05) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.09. The firm 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%. The business’s revenue for the quarter was up 30.3% on a year-over-year basis. During the same quarter last year, the firm earned ($0.17) earnings per share. As a group, analysts anticipate that Zscaler, Inc. will post -0.95 earnings per share for the current 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.