B. Riley Wealth Advisors Inc. Sells 7,978 Shares of Zscaler, Inc. (NASDAQ:ZS)

B. Riley Wealth Advisors Inc. trimmed its holdings in shares of Zscaler, Inc. (NASDAQ:ZS - Free Report) by 79.6% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,039 shares of the company's stock after selling 7,978 shares during the period. B. Riley Wealth Advisors Inc.'s holdings in Zscaler were worth $368,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of ZS. AQR Capital Management LLC increased its holdings in Zscaler by 120.1% in the 4th quarter. AQR Capital Management LLC now owns 964,031 shares of the company's stock worth $173,921,000 after acquiring an additional 525,956 shares during the last quarter. Natixis purchased a new stake in Zscaler in the 4th quarter worth about $87,775,000. Greenvale Capital LLP purchased a new stake in Zscaler in the 4th quarter worth about $72,164,000. Pictet Asset Management Holding SA increased its holdings in Zscaler by 25.8% in the 4th quarter. Pictet Asset Management Holding SA now owns 1,618,176 shares of the company's stock worth $291,935,000 after acquiring an additional 332,307 shares during the last quarter. Finally, DnB Asset Management AS increased its holdings in Zscaler by 66.8% in the 4th 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 last quarter. 46.45% of the stock is currently owned by institutional investors.

Zscaler Price Performance

Shares of ZS stock traded up $2.13 during trading hours on Tuesday, reaching $295.31. The company had a trading volume of 2,874,040 shares, compared to its average volume of 2,064,175. The company has a 50 day moving average of $222.26 and a 200 day moving average of $206.95. The firm has a market cap of $45.69 billion, a price-to-earnings ratio of -1,182.08 and a beta of 1.14. Zscaler, Inc. has a 1-year low of $153.45 and a 1-year high of $297.91.

Zscaler (NASDAQ:ZS - Get Free Report) last released its earnings results on Thursday, May 29th. The company reported $0.84 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.76 by $0.08. The firm had revenue of $678.03 million during the quarter, compared to analysts' expectations of $667.13 million. Zscaler had a negative return on equity of 0.75% and a negative net margin of 1.58%. The company's revenue was up 22.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.88 EPS. As a group, sell-side analysts forecast that Zscaler, Inc. will post -0.1 EPS for the current fiscal year.

Analysts Set New Price Targets

ZS has been the topic of several analyst reports. Rosenblatt Securities upped their price target on Zscaler from $235.00 to $315.00 and gave the company a "buy" rating in a research report on Friday. Evercore ISI upped their price target on Zscaler from $245.00 to $290.00 and gave the company an "outperform" rating in a research report on Friday. Wall Street Zen cut Zscaler from a "buy" rating to a "hold" rating in a research report on Saturday. Robert W. Baird upped their price target on Zscaler from $295.00 to $315.00 and gave the company an "outperform" rating in a research report on Friday. Finally, JMP Securities boosted their price objective on Zscaler from $240.00 to $310.00 and gave the stock a "market outperform" rating in a report on Friday. Ten investment analysts have rated the stock with a hold rating and twenty-seven have assigned a buy rating to the company's stock. According to MarketBeat.com, Zscaler has an average rating of "Moderate Buy" and a consensus target price of $277.32.

Insider Activity

In related news, insider Robert Schlossman sold 2,878 shares of the stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $199.15, for a total value of $573,153.70. Following the sale, the insider now owns 107,587 shares in the company, valued at approximately $21,425,951.05. This trade represents a 2.61% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder Ajay Mangal sold 190,480 shares of the firm's stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $200.69, for a total value of $38,227,431.20. Following the sale, the insider now owns 2,580,210 shares in the company, valued at $517,822,344.90. The trade was a 6.87% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 241,771 shares of company stock worth $50,165,040 in the last three months. Company insiders own 18.10% of the company's stock.

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.