Penserra Capital Management LLC Trims Holdings in Zscaler, Inc. (NASDAQ:ZS)

Penserra Capital Management LLC lowered its holdings in Zscaler, Inc. (NASDAQ:ZS) by 10.2% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 346,669 shares of the company’s stock after selling 39,308 shares during the quarter. Zscaler makes up about 1.3% of Penserra Capital Management LLC’s investment portfolio, making the stock its 16th largest holding. Penserra Capital Management LLC owned approximately 0.23% of Zscaler worth $59,258,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in ZS. O Shaughnessy Asset Management LLC boosted its stake in shares of Zscaler by 3.8% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 4,104 shares of the company’s stock valued at $790,000 after purchasing an additional 149 shares in the last quarter. UniSuper Management Pty Ltd boosted its position in Zscaler by 116.7% during the 1st quarter. UniSuper Management Pty Ltd now owns 1,300 shares of the company’s stock valued at $250,000 after acquiring an additional 700 shares in the last quarter. Advisors Asset Management Inc. grew its holdings in shares of Zscaler by 59.8% during the 1st quarter. Advisors Asset Management Inc. now owns 2,229 shares of the company’s stock worth $429,000 after acquiring an additional 834 shares during the period. Caxton Associates LP bought a new position in shares of Zscaler in the 1st quarter worth approximately $2,697,000. Finally, Janus Henderson Group PLC lifted its stake in shares of Zscaler by 11.8% in the 1st quarter. Janus Henderson Group PLC now owns 9,121 shares of the company’s stock valued at $1,757,000 after purchasing an additional 963 shares during the period. 46.45% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have issued reports on ZS. Loop Capital decreased their price objective on Zscaler from $180.00 to $165.00 and set a “hold” rating for the company in a report on Wednesday, September 4th. Royal Bank of Canada reissued an “outperform” rating and issued a $230.00 price target on shares of Zscaler in a research report on Wednesday, September 4th. BMO Capital Markets reduced their price objective on Zscaler from $208.00 to $197.00 and set an “outperform” rating for the company in a research report on Wednesday, September 4th. Stifel Nicolaus boosted their target price on Zscaler from $220.00 to $235.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Finally, Cantor Fitzgerald raised Zscaler to a “hold” rating in a research note on Monday, November 18th. Ten research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $218.55.

Insider Activity at Zscaler

In related news, insider Robert Schlossman sold 4,947 shares of the stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $170.22, for a total transaction of $842,078.34. Following the completion of the sale, the insider now owns 107,241 shares in the company, valued at approximately $18,254,563.02. This trade represents a 4.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Jagtar Singh Chaudhry sold 2,852 shares of the business’s stock in a transaction that occurred on Tuesday, September 17th. The stock was 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 directly owns 361,432 shares in the company, valued at approximately $61,906,072.96. This represents a 0.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 30,502 shares of company stock worth $5,256,651. 19.20% of the stock is owned by company insiders.

Zscaler Stock Up 1.8 %

Shares of ZS stock opened at $210.96 on Friday. The company has a 50 day simple moving average of $186.49 and a two-hundred day simple moving average of $183.60. Zscaler, Inc. has a 12 month low of $153.45 and a 12 month high of $259.61.

Zscaler (NASDAQ:ZS) last announced its earnings results on Tuesday, September 3rd. The company reported ($0.05) EPS for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.09. Zscaler had a negative return on equity of 3.46% and a negative net margin of 2.66%. The company had revenue of $592.90 million for the quarter, compared to analysts’ expectations of $567.46 million. During the same period last year, the firm earned ($0.17) EPS. Zscaler’s revenue for the quarter was up 30.3% compared to the same quarter last year. On average, research analysts expect that Zscaler, Inc. will post -0.95 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.