Shikiar Asset Management Inc. Cuts Stock Position in Zscaler, Inc. (NASDAQ:ZS)

Shikiar Asset Management Inc. decreased its position in shares of Zscaler, Inc. (NASDAQ:ZS) by 15.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,225 shares of the company’s stock after selling 1,275 shares during the period. Shikiar Asset Management Inc.’s holdings in Zscaler were worth $1,303,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of ZS. Quest Partners LLC acquired a new stake in Zscaler in the second quarter worth about $28,000. Prestige Wealth Management Group LLC purchased a new position in shares of Zscaler in the 3rd quarter valued at approximately $31,000. True Wealth Design LLC boosted its stake in Zscaler by 18,500.0% in the 3rd quarter. True Wealth Design LLC now owns 186 shares of the company’s stock worth $32,000 after purchasing an additional 185 shares in the last quarter. Versant Capital Management Inc grew its position in Zscaler by 136.8% during the 4th quarter. Versant Capital Management Inc now owns 180 shares of the company’s stock worth $32,000 after purchasing an additional 104 shares during the last quarter. Finally, Modus Advisors LLC acquired a new position in Zscaler during the 4th quarter valued at approximately $36,000. 46.45% of the stock is currently owned by institutional investors and hedge funds.

Zscaler Stock Performance

ZS opened at $187.58 on Friday. Zscaler, Inc. has a twelve month low of $153.45 and a twelve month high of $259.61. The company has a 50-day moving average price of $196.44 and a 200 day moving average price of $188.12.

Zscaler (NASDAQ:ZS) last announced its 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 business had revenue of $628.00 million during the quarter, compared to analysts’ expectations of $605.51 million. Zscaler had a negative return on equity of 0.75% and a negative net margin of 1.58%. The business’s revenue was up 26.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.18) earnings per share. As a group, equities analysts forecast that Zscaler, Inc. will post -0.16 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Jagtar Singh Chaudhry sold 2,863 shares of the stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $200.32, for a total value of $573,516.16. Following the completion of the sale, the chief executive officer now owns 358,569 shares of the company’s stock, valued at approximately $71,828,542.08. This trade represents a 0.79 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Remo Canessa sold 3,703 shares of Zscaler stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $200.32, for a total value of $741,784.96. Following the transaction, the chief financial officer now owns 220,635 shares in the company, valued at approximately $44,197,603.20. The trade was a 1.65 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 10,248 shares of company stock valued at $2,052,879 in the last 90 days. 18.10% of the stock is owned by insiders.

Wall Street Analyst Weigh In

ZS has been the subject of several research reports. Piper Sandler lifted their price objective on shares of Zscaler from $215.00 to $235.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 3rd. Stifel Nicolaus boosted their price target on Zscaler from $220.00 to $235.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Barclays increased their price objective on Zscaler from $200.00 to $220.00 and gave the company an “overweight” rating in a report on Thursday, November 21st. Royal Bank of Canada reaffirmed an “outperform” rating and set a $230.00 target price on shares of Zscaler in a report on Tuesday, December 3rd. Finally, Wells Fargo & Company increased their price target on shares of Zscaler from $180.00 to $190.00 and gave the stock an “equal weight” rating in a report on Wednesday, December 4th. Eleven equities research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $224.84.

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.