Cambridge Investment Research Advisors Inc. Sells 3,226 Shares of Zscaler, Inc. (NASDAQ:ZS)

Cambridge Investment Research Advisors Inc. lessened its stake in shares of Zscaler, Inc. (NASDAQ:ZS - Free Report) by 13.5% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 20,708 shares of the company's stock after selling 3,226 shares during the period. Cambridge Investment Research Advisors Inc.'s holdings in Zscaler were worth $4,109,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Geode Capital Management LLC lifted its stake in shares of Zscaler by 2.0% during the 4th quarter. Geode Capital Management LLC now owns 1,658,406 shares of the company's stock valued at $298,710,000 after buying an additional 32,545 shares in the last quarter. Pictet Asset Management Holding SA raised its holdings in Zscaler by 25.8% during the fourth quarter. Pictet Asset Management Holding SA now owns 1,618,176 shares of the company's stock valued at $291,935,000 after acquiring an additional 332,307 shares during the period. AQR Capital Management LLC lifted its position in shares of Zscaler by 120.1% in the fourth quarter. AQR Capital Management LLC now owns 964,031 shares of the company's stock valued at $173,921,000 after acquiring an additional 525,956 shares in the last quarter. Artisan Partners Limited Partnership boosted its stake in shares of Zscaler by 30.9% in the fourth quarter. Artisan Partners Limited Partnership now owns 868,795 shares of the company's stock worth $156,739,000 after acquiring an additional 204,996 shares during the period. Finally, DnB Asset Management AS boosted its stake in shares of Zscaler by 66.8% in the fourth quarter. DnB Asset Management AS now owns 667,383 shares of the company's stock worth $120,403,000 after acquiring an additional 267,162 shares during the period. Hedge funds and other institutional investors own 46.45% of the company's stock.

Insider Transactions at Zscaler

In other Zscaler news, insider Syam Nair sold 28,947 shares of the stock in a transaction on Friday, May 16th. The stock was sold at an average price of $250.00, for a total transaction of $7,236,750.00. Following the sale, the insider now owns 110,566 shares of the company's stock, valued at approximately $27,641,500. This trade represents a 20.75% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Robert Schlossman sold 3,174 shares of Zscaler stock in a transaction on Wednesday, June 18th. The shares were sold at an average price of $305.07, for a total value of $968,292.18. Following the completion of the transaction, the insider now owns 88,970 shares in the company, valued at $27,142,077.90. This represents a 3.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 210,793 shares of company stock valued at $60,812,794. 18.10% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts recently commented on ZS shares. Barclays boosted their price target on Zscaler from $275.00 to $290.00 and gave the stock an "overweight" rating in a report on Friday, May 30th. Guggenheim reissued a "neutral" rating on shares of Zscaler in a report on Friday, May 30th. Morgan Stanley raised their target price on shares of Zscaler from $200.00 to $280.00 and gave the company an "equal weight" rating in a research note on Friday, May 30th. JMP Securities boosted their price target on shares of Zscaler from $240.00 to $310.00 and gave the stock a "market outperform" rating in a research note on Friday, May 30th. Finally, Royal Bank Of Canada raised their price objective on Zscaler from $288.00 to $304.00 and gave the company an "outperform" rating in a research report on Friday, May 30th. Eight research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $295.50.

Zscaler Stock Down 1.6%

ZS traded down $5.08 on Monday, reaching $310.24. 418,299 shares of the company traded hands, compared to its average volume of 2,052,376. The company has a market cap of $48.30 billion, a P/E ratio of -1,192.34 and a beta of 1.09. Zscaler, Inc. has a one year low of $153.45 and a one year high of $318.02. The firm has a fifty day simple moving average of $263.30 and a two-hundred day simple moving average of $220.00.

Zscaler (NASDAQ:ZS - Get Free Report) last posted its quarterly earnings results on Thursday, May 29th. The company reported $0.84 earnings per share for the quarter, beating the consensus estimate of $0.76 by $0.08. Zscaler had a negative net margin of 1.52% and a negative return on equity of 0.59%. The firm had revenue of $678.03 million during the quarter, compared to the consensus estimate of $667.13 million. During the same quarter in the previous year, the firm posted $0.88 earnings per share. The company's revenue was up 22.6% on a year-over-year basis. On average, equities analysts forecast that Zscaler, Inc. will post -0.1 earnings per share for the current year.

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.