Independent Solutions Wealth Management LLC Sells 250 Shares of Zscaler, Inc. (NASDAQ:ZS)

Independent Solutions Wealth Management LLC cut its stake in shares of Zscaler, Inc. (NASDAQ:ZS) by 2.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,917 shares of the company’s stock after selling 250 shares during the period. Independent Solutions Wealth Management LLC’s holdings in Zscaler were worth $2,037,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Quest Partners LLC purchased a new position in shares of Zscaler during the second quarter valued at $28,000. Prestige Wealth Management Group LLC purchased a new position in Zscaler during the 3rd quarter worth approximately $31,000. True Wealth Design LLC boosted its holdings in Zscaler by 18,500.0% in the third quarter. True Wealth Design LLC now owns 186 shares of the company’s stock valued at $32,000 after purchasing an additional 185 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in Zscaler during the third quarter worth about $38,000. Finally, Asset Dedication LLC increased its holdings in shares of Zscaler by 436.8% during the 2nd quarter. Asset Dedication LLC now owns 204 shares of the company’s stock valued at $39,000 after purchasing an additional 166 shares in the last quarter. 46.45% of the stock is owned by hedge funds and other institutional investors.

Zscaler Trading Down 0.9 %

Shares of NASDAQ:ZS traded down $1.69 during trading on Thursday, hitting $184.00. 1,288,352 shares of the company’s stock traded hands, compared to its average volume of 2,055,519. The company has a 50-day moving average price of $197.97 and a 200-day moving average price of $187.58. Zscaler, Inc. has a 52 week low of $153.45 and a 52 week high of $259.61. The company has a market cap of $28.23 billion, a price-to-earnings ratio of -736.00 and a beta of 0.82.

Zscaler (NASDAQ:ZS) last released its quarterly earnings results on Monday, December 2nd. The company reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.14. Zscaler had a negative net margin of 1.58% and a negative return on equity of 0.75%. The company had revenue of $628.00 million during the quarter, compared to analysts’ expectations of $605.51 million. During the same quarter in the prior year, the company earned ($0.18) earnings per share. The business’s quarterly revenue was up 26.4% compared to the same quarter last year. On average, analysts predict that Zscaler, Inc. will post -0.24 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have recently commented on ZS. Susquehanna upped their price target on shares of Zscaler from $210.00 to $225.00 and gave the stock a “positive” rating in a research report on Tuesday, December 3rd. Rosenblatt Securities reissued a “neutral” rating and set a $190.00 target price on shares of Zscaler in a research note on Wednesday, September 4th. Cantor Fitzgerald upgraded Zscaler to a “hold” rating in a research note on Monday, November 18th. Wells Fargo & Company boosted their price target on shares of Zscaler from $180.00 to $190.00 and gave the stock an “equal weight” rating in a research note on Wednesday, December 4th. Finally, JMP Securities restated a “market outperform” rating and set a $240.00 target price (down from $270.00) on shares of Zscaler in a research note on Tuesday, December 3rd. Eleven analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company. Based on data from MarketBeat, Zscaler has a consensus rating of “Moderate Buy” and an average price target of $224.84.

Insider Activity

In related news, Director Andrew William Fraser Brown sold 8,000 shares of the stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $174.10, for a total transaction of $1,392,800.00. Following the sale, the director now owns 25,907 shares of the company’s stock, valued at $4,510,408.70. This represents a 23.59 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Robert Schlossman sold 1,435 shares of the business’s stock in a transaction dated 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 transaction, the insider now directly owns 105,806 shares of the company’s stock, valued at approximately $19,224,950.20. This trade represents a 1.34 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 14,382 shares of company stock valued at $2,495,618 in the last quarter. Company insiders own 18.10% of the company’s stock.

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.