Kestra Advisory Services LLC Reduces Position in Zscaler, Inc. $ZS

Key Points

• Kestra Advisory Services LLC reduced its holdings in Zscaler, Inc. by 46.9% in Q1, selling 14,342 shares and now owning 16,240 shares valued at $3,222,000.
• Institutional investors now own 46.45% of Zscaler's stock, with significant positions acquired by ORG Partners LLC and several other firms in the recent quarters.
• Despite the decrease in some insider holdings, Zscaler's stock retained a Moderate Buy consensus rating and has seen analysts adjust price targets upwards, with UBS raising theirs from $315 to $365.

Kestra Advisory Services LLC cut its holdings in shares of Zscaler, Inc. (NASDAQ:ZS - Free Report) by 46.9% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 16,240 shares of the company's stock after selling 14,342 shares during the period. Kestra Advisory Services LLC's holdings in Zscaler were worth $3,222,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. ORG Partners LLC lifted its position in Zscaler by 284.8% during the first quarter. ORG Partners LLC now owns 127 shares of the company's stock valued at $26,000 after purchasing an additional 94 shares during the period. Colonial Trust Co SC acquired a new position in Zscaler during the fourth quarter valued at $28,000. Goodman Advisory Group LLC acquired a new position in Zscaler during the first quarter valued at $29,000. N.E.W. Advisory Services LLC acquired a new position in Zscaler during the first quarter valued at $29,000. Finally, Elequin Capital LP acquired a new position in Zscaler during the fourth quarter valued at $30,000. 46.45% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, major shareholder Ajay Mangal sold 120,000 shares of the company's stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $300.89, for a total transaction of $36,106,800.00. Following the completion of the transaction, the insider owned 2,550,210 shares in the company, valued at $767,332,686.90. This represents a 4.49% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Syam Nair sold 4,064 shares of the company's stock in a transaction dated Tuesday, June 17th. The stock was sold at an average price of $303.70, for a total transaction of $1,234,236.80. Following the transaction, the insider owned 106,659 shares of the company's stock, valued at approximately $32,392,338.30. This trade represents a 3.67% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 168,256 shares of company stock worth $50,618,544. Company insiders own 18.10% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on ZS shares. Roth Capital restated a "neutral" rating on shares of Zscaler in a research report on Wednesday, May 28th. Wall Street Zen upgraded shares of Zscaler from a "hold" rating to a "buy" rating in a research report on Sunday, June 8th. UBS Group upped their price objective on shares of Zscaler from $315.00 to $365.00 and gave the stock a "buy" rating in a research report on Friday, June 27th. Canaccord Genuity Group set a $305.00 price objective on shares of Zscaler and gave the stock a "buy" rating in a research report on Monday, June 2nd. Finally, Wedbush upped their price objective on shares of Zscaler from $240.00 to $300.00 and gave the stock an "outperform" rating in a research report on Friday, May 30th. One investment analyst has rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $296.49.

Zscaler Stock Up 2.0%

ZS opened at $273.07 on Thursday. Zscaler, Inc. has a twelve month low of $153.45 and a twelve month high of $318.46. The company has a 50-day moving average price of $290.22 and a 200 day moving average price of $247.90. The company has a market cap of $42.52 billion, a PE ratio of -1,050.27, a price-to-earnings-growth ratio of 285.53 and a beta of 1.06.

Zscaler (NASDAQ:ZS - Get Free Report) last released its quarterly earnings results on Thursday, May 29th. The company reported $0.84 earnings per share for the quarter, topping 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 prior year, the firm earned $0.88 EPS. The company's revenue for the quarter was up 22.6% on a year-over-year basis. As a group, sell-side analysts expect 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.

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