Zscaler, Inc. (NASDAQ:ZS) Shares Sold by Synergy Financial Group LTD

Synergy Financial Group LTD reduced its position in shares of Zscaler, Inc. (NASDAQ:ZS) by 5.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,497 shares of the company’s stock after selling 383 shares during the period. Zscaler accounts for about 1.0% of Synergy Financial Group LTD’s investment portfolio, making the stock its 22nd largest position. Synergy Financial Group LTD’s holdings in Zscaler were worth $1,172,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Signaturefd LLC lifted its position in Zscaler by 15.0% during the third quarter. Signaturefd LLC now owns 1,028 shares of the company’s stock worth $176,000 after buying an additional 134 shares during the period. Private Advisor Group LLC lifted its holdings in shares of Zscaler by 2.0% during the 3rd quarter. Private Advisor Group LLC now owns 21,070 shares of the company’s stock worth $3,602,000 after acquiring an additional 415 shares during the period. International Assets Investment Management LLC boosted its position in shares of Zscaler by 13,498.6% in the third quarter. International Assets Investment Management LLC now owns 285,299 shares of the company’s stock worth $48,769,000 after acquiring an additional 283,201 shares during the last quarter. Ballentine Partners LLC grew its holdings in Zscaler by 144.4% in the third quarter. Ballentine Partners LLC now owns 2,762 shares of the company’s stock valued at $472,000 after purchasing an additional 1,632 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in Zscaler by 8.9% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 44,188 shares of the company’s stock worth $7,590,000 after purchasing an additional 3,598 shares during the last quarter. 46.45% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently commented on ZS shares. Morgan Stanley cut their price objective on Zscaler from $215.00 to $205.00 and set an “equal weight” rating on the stock in a report on Tuesday, December 3rd. Needham & Company LLC reaffirmed a “buy” rating and set a $240.00 price target on shares of Zscaler in a research report on Friday, January 10th. Barclays increased their price objective on shares of Zscaler from $220.00 to $250.00 and gave the stock an “overweight” rating in a research report on Friday. Piper Sandler lifted their target price on shares of Zscaler from $215.00 to $235.00 and gave the company an “overweight” rating in a report on Tuesday, December 3rd. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $240.00 price target (down from $270.00) on shares of Zscaler in a research report on Tuesday, December 3rd. Eleven equities research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $226.56.

Zscaler Price Performance

Shares of ZS opened at $197.05 on Tuesday. Zscaler, Inc. has a 12-month low of $153.45 and a 12-month high of $251.55. The business’s fifty day moving average price is $195.23 and its 200 day moving average price is $191.07. The stock has a market capitalization of $30.24 billion, a PE ratio of -788.20 and a beta of 0.89.

Zscaler (NASDAQ:ZS) last posted its quarterly earnings results on Monday, December 2nd. The company reported $0.77 EPS for the quarter, beating the consensus estimate of $0.63 by $0.14. The business had revenue of $628.00 million during the quarter, compared to analyst estimates of $605.51 million. Zscaler had a negative net margin of 1.58% and a negative return on equity of 0.75%. The company’s quarterly revenue was up 26.4% on a year-over-year basis. During the same period in the previous year, the business posted ($0.18) EPS. As a group, research analysts anticipate that Zscaler, Inc. will post -0.1 earnings per share for the current fiscal year.

Insider Activity

In other Zscaler news, insider Syam Nair sold 3,682 shares of the business’s stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $200.32, for a total transaction of $737,578.24. Following the completion of the transaction, the insider now directly owns 142,866 shares of the company’s stock, valued at $28,618,917.12. The trade was a 2.51 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Jagtar Singh Chaudhry sold 2,863 shares of the company’s stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $200.32, for a total transaction of $573,516.16. Following the completion of the transaction, the chief executive officer now owns 358,569 shares of the company’s stock, valued at approximately $71,828,542.08. This trade represents a 0.79 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 10,248 shares of company stock valued at $2,052,879. 18.10% of the stock is currently owned by insiders.

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.