Koshinski Asset Management Inc. Decreases Stake in Zscaler, Inc. (NASDAQ:ZS)

Koshinski Asset Management Inc. cut its holdings in Zscaler, Inc. (NASDAQ:ZS) by 9.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,731 shares of the company’s stock after selling 270 shares during the quarter. Koshinski Asset Management Inc.’s holdings in Zscaler were worth $493,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of ZS. Fred Alger Management LLC boosted its position in Zscaler by 1,151.0% during the third quarter. Fred Alger Management LLC now owns 10,371 shares of the company’s stock worth $1,773,000 after purchasing an additional 9,542 shares in the last quarter. DekaBank Deutsche Girozentrale boosted its position in Zscaler by 7.1% during the third quarter. DekaBank Deutsche Girozentrale now owns 221,212 shares of the company’s stock worth $37,495,000 after purchasing an additional 14,701 shares in the last quarter. Creative Planning boosted its position in Zscaler by 7.6% during the third quarter. Creative Planning now owns 148,534 shares of the company’s stock worth $25,390,000 after purchasing an additional 10,551 shares in the last quarter. Nomura Asset Management Co. Ltd. boosted its position in Zscaler by 11.0% during the third quarter. Nomura Asset Management Co. Ltd. now owns 380,463 shares of the company’s stock worth $65,036,000 after purchasing an additional 37,801 shares in the last quarter. Finally, Strategic Advisors LLC boosted its position in Zscaler by 470.0% during the third quarter. Strategic Advisors LLC now owns 8,140 shares of the company’s stock worth $1,391,000 after purchasing an additional 6,712 shares in the last quarter. 46.45% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Zscaler

In other Zscaler news, insider Syam Nair sold 3,682 shares of the company’s stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $200.32, for a total transaction of $737,578.24. Following the sale, the insider now owns 142,866 shares in the company, valued at $28,618,917.12. This represents a 2.51 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Remo Canessa sold 3,703 shares of the company’s stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $200.32, for a total value of $741,784.96. Following the sale, the chief financial officer now owns 220,635 shares in the company, valued at $44,197,603.20. The trade was a 1.65 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 10,248 shares of company stock valued at $2,052,879. Insiders own 18.10% of the company’s stock.

Wall Street Analyst Weigh In

ZS has been the topic of a number of research analyst reports. BMO Capital Markets boosted their target price on Zscaler from $197.00 to $222.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 3rd. Scotiabank boosted their price target on Zscaler from $205.00 to $225.00 and gave the stock a “sector outperform” rating in a report on Tuesday. Guggenheim reissued a “neutral” rating on shares of Zscaler in a report on Tuesday, December 3rd. Susquehanna boosted their price target on Zscaler from $210.00 to $225.00 and gave the stock a “positive” rating in a report on Tuesday, December 3rd. Finally, Canaccord Genuity Group boosted their price target on Zscaler from $220.00 to $230.00 and gave the stock a “buy” rating in a report on Tuesday, December 3rd. Eleven analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $225.47.

Zscaler Price Performance

Shares of NASDAQ ZS opened at $192.93 on Thursday. Zscaler, Inc. has a 1-year low of $153.45 and a 1-year high of $259.61. The business has a 50-day moving average of $195.52 and a 200-day moving average of $187.88. The company has a market capitalization of $29.60 billion, a price-to-earnings ratio of -771.72 and a beta of 0.87.

Zscaler (NASDAQ:ZS) last issued its quarterly earnings results on Monday, December 2nd. The company reported $0.77 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.14. The firm had revenue of $628.00 million during the quarter, compared to the consensus estimate of $605.51 million. Zscaler had a negative return on equity of 0.75% and a negative net margin of 1.58%. Zscaler’s revenue for the quarter was up 26.4% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.18) earnings per share. Research analysts expect that Zscaler, Inc. will post -0.16 EPS for the current fiscal year.

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.