Sequoia Financial Advisors LLC Has $7.51 Million Position in Zscaler, Inc. (NASDAQ:ZS)

Sequoia Financial Advisors LLC decreased its holdings in shares of Zscaler, Inc. (NASDAQ:ZS - Free Report) by 10.7% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 39,005 shares of the company's stock after selling 4,660 shares during the period. Sequoia Financial Advisors LLC's holdings in Zscaler were worth $7,514,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. lifted its position in Zscaler by 2.4% in the fourth quarter. Vanguard Group Inc. now owns 8,843,772 shares of the company's stock valued at $1,959,426,000 after purchasing an additional 206,908 shares during the period. 1832 Asset Management L.P. purchased a new position in Zscaler in the fourth quarter valued at about $217,683,000. Norges Bank purchased a new position in Zscaler in the fourth quarter valued at about $117,599,000. Westfield Capital Management Co. LP increased its holdings in Zscaler by 19.1% in the fourth quarter. Westfield Capital Management Co. LP now owns 412,063 shares of the company's stock valued at $91,297,000 after buying an additional 65,980 shares in the last quarter. Finally, Polar Capital Holdings Plc purchased a new position in Zscaler in the third quarter valued at about $61,681,000. Institutional investors and hedge funds own 46.45% of the company's stock.

Insider Transactions at Zscaler

In other news, CFO Remo Canessa sold 7,981 shares of the company's stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $177.21, for a total value of $1,414,313.01. Following the completion of the sale, the chief financial officer now directly owns 243,486 shares of the company's stock, valued at approximately $43,148,154.06. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 19.20% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on ZS. Sanford C. Bernstein dropped their price objective on shares of Zscaler from $280.00 to $270.00 and set an "outperform" rating for the company in a research note on Friday, May 31st. JMP Securities reissued a "market outperform" rating and set a $270.00 price objective on shares of Zscaler in a research note on Monday, June 17th. Morgan Stanley dropped their price objective on shares of Zscaler from $214.00 to $202.00 and set an "equal weight" rating for the company in a research note on Friday, May 24th. Rosenblatt Securities reissued a "neutral" rating and set a $190.00 price objective on shares of Zscaler in a research note on Tuesday, May 28th. Finally, BTIG Research dropped their price objective on shares of Zscaler from $258.00 to $220.00 and set a "buy" rating for the company in a research note on Friday, May 31st. Six investment analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Zscaler presently has an average rating of "Moderate Buy" and an average target price of $225.21.

Zscaler Stock Performance

Zscaler stock traded up $3.25 during midday trading on Friday, reaching $201.65. 1,693,431 shares of the stock traded hands, compared to its average volume of 2,103,971. The company has a current ratio of 1.75, a quick ratio of 1.75 and a debt-to-equity ratio of 1.04. The firm has a fifty day moving average price of $179.22 and a two-hundred day moving average price of $201.97. The firm has a market cap of $30.48 billion, a price-to-earnings ratio of -395.39 and a beta of 0.85. Zscaler, Inc. has a fifty-two week low of $131.59 and a fifty-two week high of $259.61.

Zscaler (NASDAQ:ZS - Get Free Report) last posted its earnings results on Thursday, May 30th. The company reported $0.15 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.24) by $0.39. The firm had revenue of $553.20 million during the quarter, compared to analyst estimates of $535.55 million. Zscaler had a negative net margin of 3.62% and a negative return on equity of 5.84%. On average, equities research analysts forecast that Zscaler, Inc. will post -0.34 earnings per share for the current year.

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.