Zscaler, Inc. (NASDAQ:ZS) Shares Sold by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC reduced its stake in Zscaler, Inc. (NASDAQ:ZS - Free Report) by 38.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,656 shares of the company's stock after selling 2,932 shares during the period. Janney Montgomery Scott LLC's holdings in Zscaler were worth $924,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in ZS. Summit Securities Group LLC purchased a new position in Zscaler in the 4th quarter valued at approximately $27,000. Colonial Trust Co SC acquired a new position in shares of Zscaler during the 4th quarter worth about $28,000. Elequin Capital LP acquired a new position in Zscaler in the fourth quarter valued at approximately $30,000. CVA Family Office LLC boosted its holdings in shares of Zscaler by 120.3% in the 1st quarter. CVA Family Office LLC now owns 152 shares of the company's stock valued at $30,000 after buying an additional 83 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. boosted its stake in Zscaler by 295.0% in the first quarter. Thurston Springer Miller Herd & Titak Inc. now owns 158 shares of the company's stock valued at $31,000 after acquiring an additional 118 shares in the last quarter. 46.45% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. The Goldman Sachs Group set a $207.00 target price on shares of Zscaler and gave the stock a "neutral" rating in a research report on Thursday, March 6th. Citigroup reissued a "buy" rating and issued a $240.00 price target (up from $235.00) on shares of Zscaler in a report on Wednesday, March 5th. Wall Street Zen upgraded shares of Zscaler from a "hold" rating to a "buy" rating in a research report on Sunday, June 8th. Jefferies Financial Group dropped their price target on Zscaler from $245.00 to $240.00 and set a "buy" rating for the company in a research report on Monday, March 31st. Finally, Morgan Stanley lifted their price objective on Zscaler from $200.00 to $280.00 and gave the stock an "equal weight" rating in a research report on Friday, May 30th. Eight equities research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $295.50.

Zscaler Stock Up 0.5%

ZS opened at $315.32 on Monday. Zscaler, Inc. has a 52-week low of $153.45 and a 52-week high of $317.26. The firm has a market capitalization of $49.10 billion, a P/E ratio of -1,212.77 and a beta of 1.09. The firm's 50 day moving average is $263.30 and its 200-day moving average is $220.00.

Zscaler (NASDAQ:ZS - Get Free Report) last released its 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. The company 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 0.59% and a negative net margin of 1.52%. The business's revenue was up 22.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.88 EPS. Equities analysts expect that Zscaler, Inc. will post -0.1 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Adam Geller sold 3,662 shares of the company's stock in a transaction on Wednesday, June 18th. The stock was sold at an average price of $306.72, for a total transaction of $1,123,208.64. Following the completion of the transaction, the insider now directly owns 46,813 shares in the company, valued at $14,358,483.36. This represents a 7.26% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Robert Schlossman sold 3,174 shares of Zscaler stock in a transaction dated Wednesday, June 18th. The shares were sold at an average price of $305.07, for a total transaction of $968,292.18. Following the completion of the sale, the insider now owns 88,970 shares in the company, valued at approximately $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. Insiders have sold a total of 210,793 shares of company stock valued at $60,812,794 in the last quarter. Insiders own 18.10% of the company's stock.

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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