NewEdge Wealth LLC Sells 843 Shares of Zscaler, Inc. (NASDAQ:ZS)

NewEdge Wealth LLC lessened its position in Zscaler, Inc. (NASDAQ:ZS) by 9.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,809 shares of the company’s stock after selling 843 shares during the quarter. NewEdge Wealth LLC’s holdings in Zscaler were worth $1,409,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Geode Capital Management LLC lifted its holdings in shares of Zscaler by 3.9% during the third quarter. Geode Capital Management LLC now owns 1,625,861 shares of the company’s stock worth $277,327,000 after buying an additional 60,414 shares during the last quarter. Champlain Investment Partners LLC increased its position in Zscaler by 28.2% during the third quarter. Champlain Investment Partners LLC now owns 1,289,350 shares of the company’s stock worth $220,401,000 after acquiring an additional 283,540 shares during the period. Bank of New York Mellon Corp raised its stake in Zscaler by 3.2% during the 4th quarter. Bank of New York Mellon Corp now owns 539,113 shares of the company’s stock valued at $97,261,000 after purchasing an additional 16,742 shares during the last quarter. Westfield Capital Management Co. LP boosted its holdings in Zscaler by 33.8% in the 3rd quarter. Westfield Capital Management Co. LP now owns 399,516 shares of the company’s stock valued at $68,293,000 after purchasing an additional 100,814 shares during the period. Finally, Nomura Asset Management Co. Ltd. grew its position in Zscaler by 11.0% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 380,463 shares of the company’s stock worth $65,036,000 after purchasing an additional 37,801 shares during the last quarter. Institutional investors and hedge funds own 46.45% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on ZS shares. Morgan Stanley reduced their target price on shares of Zscaler from $215.00 to $205.00 and set an “equal weight” rating for the company in a research note on Tuesday, December 3rd. Wells Fargo & Company raised their price objective on Zscaler from $180.00 to $190.00 and gave the stock an “equal weight” rating in a research report on Wednesday, December 4th. Canaccord Genuity Group boosted their price objective on Zscaler from $220.00 to $230.00 and gave the company a “buy” rating in a research report on Tuesday, December 3rd. Susquehanna raised their target price on Zscaler from $210.00 to $225.00 and gave the stock a “positive” rating in a research report on Tuesday, December 3rd. Finally, JPMorgan Chase & Co. lifted their price target on shares of Zscaler from $220.00 to $240.00 and gave the stock an “overweight” rating in a research note on Friday, November 29th. Eleven research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the stock. Based on data from MarketBeat, Zscaler has an average rating of “Moderate Buy” and an average target price of $226.56.

Insider Activity at Zscaler

In related news, 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 value of $573,516.16. Following the completion of the sale, the chief executive officer now owns 358,569 shares in the company, valued at approximately $71,828,542.08. This represents a 0.79 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Remo Canessa sold 3,703 shares of the firm’s stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $200.32, for a total value of $741,784.96. Following the transaction, the chief financial officer now owns 220,635 shares in the company, valued at approximately $44,197,603.20. This trade represents a 1.65 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 10,248 shares of company stock worth $2,052,879 over the last ninety days. Company insiders own 18.10% of the company’s stock.

Zscaler Stock Performance

NASDAQ ZS opened at $196.23 on Friday. Zscaler, Inc. has a 52 week low of $153.45 and a 52 week high of $243.94. The stock has a market capitalization of $30.11 billion, a P/E ratio of -784.92 and a beta of 0.89. The stock has a fifty day moving average of $195.64 and a 200-day moving average of $191.49.

Zscaler (NASDAQ:ZS) last announced its quarterly earnings data on Monday, December 2nd. The company reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.14. Zscaler had a negative return on equity of 0.75% and a negative net margin of 1.58%. The firm had revenue of $628.00 million during the quarter, compared to analyst estimates of $605.51 million. During the same period last year, the company earned ($0.18) earnings per share. The company’s revenue was up 26.4% on a year-over-year basis. Equities research analysts forecast that Zscaler, Inc. will post -0.1 earnings per share 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.