Lake Street Private Wealth LLC Has $603,000 Stock Position in Zscaler, Inc. (NASDAQ:ZS)

Lake Street Private Wealth LLC cut its stake in shares of Zscaler, Inc. (NASDAQ:ZS - Free Report) by 44.1% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,530 shares of the company's stock after selling 2,783 shares during the period. Lake Street Private Wealth LLC's holdings in Zscaler were worth $603,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. Quest Partners LLC purchased a new stake in shares of Zscaler during the 2nd quarter worth about $28,000. Asset Dedication LLC increased its holdings in Zscaler by 436.8% in the second quarter. Asset Dedication LLC now owns 204 shares of the company's stock worth $39,000 after buying an additional 166 shares during the last quarter. American Capital Advisory LLC bought a new position in Zscaler during the second quarter valued at approximately $50,000. GAMMA Investing LLC lifted its stake in Zscaler by 21.3% in the second 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 last quarter. Finally, Quarry LP grew its position in Zscaler by 613.0% in the second quarter. Quarry LP now owns 385 shares of the company's stock worth $74,000 after acquiring an additional 331 shares in the last quarter. Institutional investors and hedge funds own 46.45% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the stock. Morgan Stanley raised their price target on shares of Zscaler from $202.00 to $215.00 and gave the company an "equal weight" rating in a report on Monday, August 26th. Robert W. Baird cut their target price on Zscaler from $260.00 to $225.00 and set an "outperform" rating on the stock in a report on Wednesday, September 4th. Bank of America cut Zscaler from a "buy" rating to a "neutral" rating and reduced their price target for the stock from $265.00 to $195.00 in a research report on Wednesday, September 4th. JMP Securities reissued a "market outperform" rating and set a $270.00 price objective on shares of Zscaler in a report on Wednesday, September 4th. Finally, Wedbush cut their price objective on Zscaler from $260.00 to $220.00 and set an "outperform" rating on the stock in a research note on Wednesday, September 4th. Ten analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $216.73.

Insider Transactions at Zscaler

In other news, insider Robert Schlossman sold 1,435 shares of the firm's stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $181.70, for a total transaction of $260,739.50. Following the completion of the sale, the insider now owns 105,806 shares of the company's stock, valued at approximately $19,224,950.20. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, CEO Jagtar Singh Chaudhry sold 2,852 shares of the company's stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $171.28, for a total transaction of $488,490.56. Following the transaction, the chief executive officer now owns 361,432 shares in the company, valued at $61,906,072.96. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Robert Schlossman sold 1,435 shares of the stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $181.70, for a total transaction of $260,739.50. Following the sale, the insider now directly owns 105,806 shares in the company, valued at approximately $19,224,950.20. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 30,502 shares of company stock valued at $5,256,651. 19.20% of the stock is owned by insiders.

Zscaler Trading Up 1.6 %

NASDAQ:ZS traded up $2.92 during mid-day trading on Thursday, hitting $183.93. The company's stock had a trading volume of 1,084,813 shares, compared to its average volume of 2,080,248. The company has a market capitalization of $27.80 billion, a price-to-earnings ratio of -360.65 and a beta of 0.82. Zscaler, Inc. has a fifty-two week low of $152.60 and a fifty-two week high of $259.61. The stock has a fifty day moving average of $181.06 and a 200-day moving average of $180.75.

Zscaler (NASDAQ:ZS - Get Free Report) last issued its earnings results on Tuesday, September 3rd. The company reported ($0.05) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.14) by $0.09. Zscaler had a negative return on equity of 3.46% and a negative net margin of 2.66%. The business had revenue of $592.90 million during the quarter, compared to analysts' expectations of $567.46 million. During the same period in the prior year, the firm posted ($0.17) EPS. Zscaler's quarterly revenue was up 30.3% compared to the same quarter last year. On average, equities analysts anticipate that Zscaler, Inc. will post -0.95 earnings per share 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.