Stanley Laman Group Ltd. Cuts Stake in Zscaler, Inc. (NASDAQ:ZS)

Stanley Laman Group Ltd. reduced its stake in shares of Zscaler, Inc. (NASDAQ:ZS - Free Report) by 14.1% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 26,157 shares of the company's stock after selling 4,289 shares during the period. Stanley Laman Group Ltd.'s holdings in Zscaler were worth $4,471,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. EverSource Wealth Advisors LLC boosted its position in Zscaler by 8.6% during the second quarter. EverSource Wealth Advisors LLC now owns 832 shares of the company's stock worth $149,000 after purchasing an additional 66 shares during the period. Kovack Advisors Inc. grew its stake in Zscaler by 3.4% in the 1st quarter. Kovack Advisors Inc. now owns 2,042 shares of the company's stock valued at $393,000 after buying an additional 67 shares in the last quarter. GAMMA Investing LLC raised its holdings in Zscaler by 21.3% during the 2nd quarter. GAMMA Investing LLC now owns 382 shares of the company's stock valued at $73,000 after acquiring an additional 67 shares during the period. American Trust boosted its holdings in shares of Zscaler by 6.1% in the second quarter. American Trust now owns 1,210 shares of the company's stock worth $233,000 after acquiring an additional 70 shares during the period. Finally, Swedbank AB grew its position in shares of Zscaler by 0.8% in the second quarter. Swedbank AB now owns 9,036 shares of the company's stock valued at $1,737,000 after purchasing an additional 76 shares in the last quarter. Hedge funds and other institutional investors own 46.45% of the company's stock.

Zscaler Stock Performance

Shares of ZS traded down $5.15 during mid-day trading on Wednesday, reaching $181.01. The company had a trading volume of 1,078,493 shares, compared to its average volume of 2,085,097. The company has a market capitalization of $27.36 billion, a price-to-earnings ratio of -361.00 and a beta of 0.82. The firm has a 50-day moving average price of $181.25 and a 200 day moving average price of $180.72. Zscaler, Inc. has a 52 week low of $152.60 and a 52 week high of $259.61.

Zscaler (NASDAQ:ZS - Get Free Report) last announced its quarterly earnings data on Tuesday, September 3rd. The company reported ($0.05) EPS for the quarter, beating the consensus estimate of ($0.14) by $0.09. The company had revenue of $592.90 million for the quarter, compared to the consensus estimate of $567.46 million. Zscaler had a negative net margin of 2.66% and a negative return on equity of 3.46%. Zscaler's revenue for the quarter was up 30.3% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.17) EPS. As a group, research analysts forecast that Zscaler, Inc. will post -0.95 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms recently weighed in on ZS. BMO Capital Markets decreased their target price on shares of Zscaler from $208.00 to $197.00 and set an "outperform" rating on the stock in a report on Wednesday, September 4th. Wedbush lowered their price objective on Zscaler from $260.00 to $220.00 and set an "outperform" rating on the stock in a research report on Wednesday, September 4th. Loop Capital reduced their target price on Zscaler from $180.00 to $165.00 and set a "hold" rating for the company in a research report on Wednesday, September 4th. Susquehanna reaffirmed a "positive" rating and issued a $210.00 price target on shares of Zscaler in a report on Thursday, September 5th. Finally, Bank of America lowered Zscaler from a "buy" rating to a "neutral" rating and cut their price objective for the stock from $265.00 to $195.00 in a report on Wednesday, September 4th. Ten research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $216.73.

Insider Activity

In other news, insider Michael J. Rich sold 4,813 shares of the firm's stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $171.28, for a total value of $824,370.64. Following the transaction, the insider now directly owns 103,259 shares in the company, valued at $17,686,201.52. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, insider Michael J. Rich sold 4,813 shares of the business's stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $171.28, for a total transaction of $824,370.64. Following the completion of the sale, the insider now directly owns 103,259 shares in the company, valued at approximately $17,686,201.52. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Robert Schlossman sold 1,435 shares of the stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $181.70, for a total transaction of $260,739.50. Following the completion of the transaction, the insider now owns 105,806 shares in the company, valued at $19,224,950.20. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 30,502 shares of company stock valued at $5,256,651 over the last three months. Insiders own 19.20% of the company's stock.

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.