First National Bank of Hutchinson Lowers Stock Position in Zscaler, Inc. (NASDAQ:ZS)

First National Bank of Hutchinson lessened its holdings in shares of Zscaler, Inc. (NASDAQ:ZS) by 10.1% in the third quarter, Holdings Channel reports. The firm owned 3,042 shares of the company’s stock after selling 343 shares during the period. First National Bank of Hutchinson’s holdings in Zscaler were worth $520,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the business. Quest Partners LLC purchased a new stake in shares of Zscaler during the 2nd quarter valued at about $28,000. Asset Dedication LLC raised its stake in shares of Zscaler by 436.8% during the second quarter. Asset Dedication LLC now owns 204 shares of the company’s stock valued at $39,000 after purchasing an additional 166 shares during the period. American Capital Advisory LLC acquired a new position in shares of Zscaler during the second quarter worth $50,000. GAMMA Investing LLC grew its holdings 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 in the last quarter. Finally, Quarry LP increased its stake in Zscaler by 613.0% during the 2nd quarter. Quarry LP now owns 385 shares of the company’s stock worth $74,000 after buying an additional 331 shares during the period. Institutional investors and hedge funds own 46.45% of the company’s stock.

Zscaler Stock Performance

NASDAQ:ZS opened at $181.01 on Thursday. The stock has a market cap of $27.60 billion, a price-to-earnings ratio of -452.51 and a beta of 0.82. Zscaler, Inc. has a 1 year low of $152.60 and a 1 year high of $259.61. The business has a fifty day moving average of $181.19 and a 200-day moving average of $180.73.

Zscaler (NASDAQ:ZS) last announced its earnings results 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. Zscaler had a negative net margin of 2.66% and a negative return on equity of 3.46%. The firm had revenue of $592.90 million during the quarter, compared to analyst estimates of $567.46 million. During the same quarter in the prior year, the firm posted ($0.17) EPS. Zscaler’s revenue was up 30.3% compared to the same quarter last year. On average, equities research analysts predict that Zscaler, Inc. will post -0.95 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Cantor Fitzgerald lowered their target price on Zscaler from $200.00 to $170.00 and set a “neutral” rating for the company in a research note on Wednesday, September 4th. Stifel Nicolaus restated a “buy” rating and set a $220.00 price objective on shares of Zscaler in a report on Wednesday, September 4th. BTIG Research reduced their target price on Zscaler from $220.00 to $205.00 and set a “buy” rating for the company in a research note on Wednesday, September 4th. BNP Paribas initiated coverage on shares of Zscaler in a research note on Tuesday, October 8th. They issued a “neutral” rating and a $180.00 price target for the company. Finally, Susquehanna reiterated a “positive” rating and set a $210.00 price objective on shares of Zscaler in a research note on Thursday, September 5th. Ten investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $216.73.

Insider Activity at Zscaler

In other news, insider Michael J. Rich sold 4,813 shares of the business’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $171.28, for a total value of $824,370.64. Following the sale, the insider now owns 103,259 shares of the company’s stock, valued at approximately $17,686,201.52. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Robert Schlossman sold 1,435 shares of the firm’s stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $181.70, for a total transaction of $260,739.50. Following the completion of the transaction, the insider now owns 105,806 shares in the company, valued at approximately $19,224,950.20. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Michael J. Rich sold 4,813 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 transaction of $824,370.64. Following the completion of the sale, the insider now 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 disclosure for this sale can be found here. Insiders have sold 30,502 shares of company stock worth $5,256,651 over the last quarter. 19.20% of the stock is currently owned by company insiders.

Zscaler Company 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.