Qsemble Capital Management LP Sells 11,180 Shares of Zscaler, Inc. (NASDAQ:ZS)

Qsemble Capital Management LP lessened its holdings in Zscaler, Inc. (NASDAQ:ZS - Free Report) by 64.2% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 6,244 shares of the company's stock after selling 11,180 shares during the period. Qsemble Capital Management LP's holdings in Zscaler were worth $1,200,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in ZS. Private Advisor Group LLC boosted its stake in Zscaler by 42.8% during the 4th quarter. Private Advisor Group LLC now owns 2,101 shares of the company's stock valued at $465,000 after purchasing an additional 630 shares during the period. Principal Securities Inc. purchased a new position in Zscaler during the fourth quarter valued at approximately $82,000. Dimensional Fund Advisors LP grew its position in Zscaler by 3.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 145,455 shares of the company's stock worth $32,230,000 after acquiring an additional 4,257 shares in the last quarter. Principal Financial Group Inc. grew its position in Zscaler by 721.1% in the fourth quarter. Principal Financial Group Inc. now owns 88,592 shares of the company's stock worth $19,628,000 after acquiring an additional 77,802 shares in the last quarter. Finally, Ieq Capital LLC lifted its stake in shares of Zscaler by 16.6% in the fourth quarter. Ieq Capital LLC now owns 2,175 shares of the company's stock worth $482,000 after buying an additional 309 shares during the last quarter. Hedge funds and other institutional investors own 46.45% of the company's stock.

Zscaler Stock Performance

Shares of NASDAQ ZS traded up $3.35 during midday trading on Friday, reaching $170.06. 1,991,087 shares of the company traded hands, compared to its average volume of 2,167,476. Zscaler, Inc. has a 12 month low of $146.59 and a 12 month high of $259.61. The company has a quick ratio of 1.75, a current ratio of 1.75 and a debt-to-equity ratio of 1.04. The stock's 50-day simple moving average is $184.68 and its 200-day simple moving average is $185.70.

Zscaler (NASDAQ:ZS - Get Free Report) last announced its quarterly earnings data on Tuesday, September 3rd. The company reported $0.88 EPS for the quarter, topping analysts' consensus estimates of $0.70 by $0.18. The firm had revenue of $592.90 million during the quarter, compared to analyst estimates of $567.46 million. Zscaler had a negative return on equity of 3.75% and a negative net margin of 2.66%. The company's revenue was up 30.3% on a year-over-year basis. During the same period last year, the company earned ($0.17) earnings per share. As a group, analysts forecast that Zscaler, Inc. will post -0.92 EPS for the current year.

Insider Buying and Selling at Zscaler

In other Zscaler news, CFO Remo Canessa sold 7,981 shares of the business's stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $177.21, for a total transaction of $1,414,313.01. Following the transaction, the chief financial officer now owns 243,486 shares of the company's stock, valued at approximately $43,148,154.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 19.20% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on ZS. Morgan Stanley increased their price objective on shares of Zscaler from $202.00 to $215.00 and gave the company an "equal weight" rating in a research note on Monday, August 26th. BMO Capital Markets cut their price target on Zscaler from $208.00 to $197.00 and set an "outperform" rating on the stock in a research note on Wednesday, September 4th. Royal Bank of Canada reissued an "outperform" rating and issued a $230.00 target price on shares of Zscaler in a research note on Wednesday, September 4th. Piper Sandler decreased their price objective on Zscaler from $255.00 to $215.00 and set an "overweight" rating for the company in a report on Wednesday, September 4th. Finally, Bank of America cut Zscaler from a "buy" rating to a "neutral" rating and cut their target price for the company from $265.00 to $195.00 in a research note on Wednesday, September 4th. Nine equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $218.39.

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.