First Washington CORP Trims Stake in Zscaler, Inc. (NASDAQ:ZS)

First Washington CORP lowered its holdings in Zscaler, Inc. (NASDAQ:ZS - Free Report) by 43.4% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 8,514 shares of the company's stock after selling 6,518 shares during the quarter. First Washington CORP's holdings in Zscaler were worth $1,636,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. 1832 Asset Management L.P. bought a new position in shares of Zscaler during the 4th quarter worth approximately $217,683,000. Norges Bank acquired a new position in Zscaler in the fourth quarter valued at about $117,599,000. Quadrature Capital Ltd acquired a new position in Zscaler in the first quarter valued at about $47,217,000. Vanguard Group Inc. grew its stake 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 acquiring an additional 206,908 shares during the period. Finally, Jupiter Asset Management Ltd. acquired a new position in Zscaler in the first quarter valued at about $27,954,000. Institutional investors own 46.45% of the company's stock.

Analyst Upgrades and Downgrades

ZS has been the topic of a number of research reports. Susquehanna restated a "positive" rating and issued a $210.00 price target on shares of Zscaler in a report on Thursday, September 5th. Wedbush decreased their target price on Zscaler from $260.00 to $220.00 and set an "outperform" rating on the stock in a research report on Wednesday, September 4th. Morgan Stanley increased their price target on Zscaler from $202.00 to $215.00 and gave the stock an "equal weight" rating in a research report on Monday, August 26th. Canaccord Genuity Group cut their target price on Zscaler from $260.00 to $220.00 and set a "buy" rating for the company in a research note on Tuesday, June 4th. Finally, Piper Sandler cut their target price on Zscaler from $255.00 to $215.00 and set an "overweight" rating for the company in a research note on Wednesday, September 4th. Nine research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $218.39.

Zscaler Trading Down 1.1 %

NASDAQ ZS traded down $1.80 during trading hours on Wednesday, hitting $168.52. The company's stock had a trading volume of 1,472,951 shares, compared to its average volume of 2,156,157. Zscaler, Inc. has a 52 week low of $146.59 and a 52 week high of $259.61. The company's 50-day simple moving average is $182.91 and its two-hundred day simple moving average is $183.60. The company has a market capitalization of $25.70 billion, a PE ratio of -331.96 and a beta of 0.82.

Zscaler (NASDAQ:ZS - Get Free Report) last posted its earnings results on Tuesday, September 3rd. The company reported $0.88 EPS for the quarter, topping the consensus estimate of $0.70 by $0.18. Zscaler had a negative net margin of 2.66% and a negative return on equity of 3.46%. The firm had revenue of $592.90 million for the quarter, compared to analysts' expectations of $567.46 million. During the same quarter last year, the firm earned ($0.17) EPS. The company's quarterly revenue was up 30.3% compared to the same quarter last year. Research analysts anticipate that Zscaler, Inc. will post -0.92 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Remo Canessa sold 7,981 shares of Zscaler 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 sale, 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 is available at the SEC website. In related news, CEO Jagtar Singh Chaudhry sold 2,852 shares of Zscaler stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $171.28, for a total value of $488,490.56. Following the completion of the transaction, the chief executive officer now directly owns 361,432 shares in the company, valued at approximately $61,906,072.96. 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 7,981 shares of Zscaler stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $177.21, for a total transaction of $1,414,313.01. Following the completion of the transaction, the chief financial officer now owns 243,486 shares of the company's stock, valued at $43,148,154.06. The disclosure for this sale can be found here. In the last quarter, insiders have sold 24,101 shares of company stock valued at $4,175,347. 19.20% of the stock is owned by company insiders.

Zscaler 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.