Zscaler, Inc. (NASDAQ:ZS) Shares Sold by Burney Co.

Burney Co. lowered its stake in Zscaler, Inc. (NASDAQ:ZS) by 92.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 2,915 shares of the company’s stock after selling 35,177 shares during the quarter. Burney Co.’s holdings in Zscaler were worth $526,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ZS. Champlain Investment Partners LLC raised its holdings in shares of Zscaler by 28.2% during the third quarter. Champlain Investment Partners LLC now owns 1,289,350 shares of the company’s stock valued at $220,401,000 after acquiring an additional 283,540 shares during the last quarter. International Assets Investment Management LLC increased its position in shares of Zscaler by 13,498.6% during the third quarter. International Assets Investment Management LLC now owns 285,299 shares of the company’s stock worth $48,769,000 after purchasing an additional 283,201 shares in the last quarter. GuoLine Advisory Pte Ltd acquired a new position in Zscaler in the 3rd quarter valued at $32,660,000. Massachusetts Financial Services Co. MA purchased a new position in Zscaler in the 2nd quarter valued at $25,287,000. Finally, Westfield Capital Management Co. LP boosted its stake in Zscaler by 33.8% during the 3rd quarter. Westfield Capital Management Co. LP now owns 399,516 shares of the company’s stock worth $68,293,000 after purchasing an additional 100,814 shares during the last quarter. Hedge funds and other institutional investors own 46.45% of the company’s stock.

Insider Activity

In other news, CFO Remo Canessa sold 3,703 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 $741,784.96. Following the completion of the sale, the chief financial officer now owns 220,635 shares in the company, valued at $44,197,603.20. This represents a 1.65 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Syam Nair sold 3,682 shares of Zscaler stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $200.32, for a total transaction of $737,578.24. Following the completion of the transaction, the insider now owns 142,866 shares in the company, valued at approximately $28,618,917.12. This trade represents a 2.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 10,248 shares of company stock valued at $2,052,879 in the last ninety days. 18.10% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Needham & Company LLC reissued a “buy” rating and issued a $240.00 price target on shares of Zscaler in a research note on Friday, January 10th. Piper Sandler boosted their target price on Zscaler from $215.00 to $235.00 and gave the stock an “overweight” rating in a report on Tuesday, December 3rd. Cantor Fitzgerald raised Zscaler to a “hold” rating in a report on Monday, November 18th. KeyCorp boosted their price objective on Zscaler from $245.00 to $250.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 3rd. Finally, Stifel Nicolaus raised their target price on Zscaler from $220.00 to $235.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Eleven equities research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $224.84.

Zscaler Price Performance

Shares of ZS opened at $187.58 on Friday. Zscaler, Inc. has a 1-year low of $153.45 and a 1-year high of $259.61. The stock has a market cap of $28.78 billion, a PE ratio of -750.32 and a beta of 0.87. The firm has a fifty 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 earnings per share (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 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% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.18) EPS. As a group, equities 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.