Teamwork Financial Advisors LLC Reduces Stock Position in Zscaler, Inc. (NASDAQ:ZS)

Teamwork Financial Advisors LLC lowered its position in shares of Zscaler, Inc. (NASDAQ:ZS - Free Report) by 41.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,574 shares of the company's stock after selling 1,834 shares during the quarter. Teamwork Financial Advisors LLC's holdings in Zscaler were worth $511,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Hennion & Walsh Asset Management Inc. raised its position in shares of Zscaler by 1.7% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 12,512 shares of the company's stock valued at $2,483,000 after buying an additional 208 shares during the last quarter. Merit Financial Group LLC increased its holdings in Zscaler by 42.0% in the 1st quarter. Merit Financial Group LLC now owns 6,197 shares of the company's stock valued at $1,230,000 after acquiring an additional 1,832 shares during the last quarter. Woodstock Corp increased its holdings in Zscaler by 32.8% in the 1st quarter. Woodstock Corp now owns 47,852 shares of the company's stock valued at $9,495,000 after acquiring an additional 11,817 shares during the last quarter. Rhumbline Advisers boosted its holdings in shares of Zscaler by 3.7% during the 1st quarter. Rhumbline Advisers now owns 133,305 shares of the company's stock valued at $26,450,000 after purchasing an additional 4,726 shares during the last quarter. Finally, Red Spruce Capital LLC grew its position in shares of Zscaler by 1.9% during the first quarter. Red Spruce Capital LLC now owns 16,316 shares of the company's stock valued at $3,237,000 after purchasing an additional 301 shares in the last quarter. Hedge funds and other institutional investors own 46.45% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on ZS shares. BMO Capital Markets increased their price target on Zscaler from $233.00 to $295.00 and gave the company an "outperform" rating in a research note on Friday, May 30th. JPMorgan Chase & Co. upped their price objective on Zscaler from $275.00 to $292.00 and gave the stock an "overweight" rating in a report on Friday, May 30th. Stephens reissued an "overweight" rating and issued a $255.00 target price on shares of Zscaler in a report on Tuesday, May 27th. BNP Paribas raised shares of Zscaler from a "neutral" rating to an "outperform" rating and set a $260.00 price target on the stock in a research note on Monday, April 28th. Finally, Scotiabank increased their price objective on shares of Zscaler from $242.00 to $310.00 and gave the company a "sector outperform" rating in a research report on Friday, May 30th. Ten equities research analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $280.76.

Zscaler Stock Up 1.4%

Shares of ZS stock traded up $4.03 on Thursday, hitting $300.88. The stock had a trading volume of 2,503,610 shares, compared to its average volume of 2,068,088. Zscaler, Inc. has a one year low of $153.45 and a one year high of $303.67. The business has a 50 day moving average price of $225.76 and a 200 day moving average price of $208.18. The company has a market cap of $46.55 billion, a PE ratio of -1,203.52 and a beta of 1.14.

Zscaler (NASDAQ:ZS - Get Free Report) last posted its quarterly earnings results on Thursday, May 29th. The company reported $0.84 EPS for the quarter, beating the consensus estimate of $0.76 by $0.08. Zscaler had a negative net margin of 1.58% and a negative return on equity of 0.75%. The business had revenue of $678.03 million during the quarter, compared to analyst estimates of $667.13 million. During the same quarter in the previous year, the business posted $0.88 EPS. The company's quarterly revenue was up 22.6% compared to the same quarter last year. Equities research analysts expect that Zscaler, Inc. will post -0.1 EPS for the current year.

Insiders Place Their Bets

In related news, insider Syam Nair sold 28,947 shares of the company's stock in a transaction dated 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 transaction, the insider now directly owns 110,566 shares of the company's stock, valued at $27,641,500. This represents a 20.75% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Robert Schlossman sold 2,878 shares of the firm's stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $199.15, for a total value of $573,153.70. Following the completion of the sale, the insider now directly owns 107,587 shares of the company's stock, valued at approximately $21,425,951.05. This represents a 2.61% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 241,771 shares of company stock worth $50,165,040. 18.10% of the stock is owned by corporate 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.