Zscaler, Inc. (NASDAQ:ZS) Shares Sold by Pursue Wealth Partners LLC

Pursue Wealth Partners LLC lowered its position in Zscaler, Inc. (NASDAQ:ZS - Free Report) by 35.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 15,673 shares of the company's stock after selling 8,462 shares during the period. Zscaler comprises about 1.5% of Pursue Wealth Partners LLC's investment portfolio, making the stock its 21st biggest holding. Pursue Wealth Partners LLC's holdings in Zscaler were worth $2,679,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the company. Diversify Advisory Services LLC raised its stake in shares of Zscaler by 87.1% in the third quarter. Diversify Advisory Services LLC now owns 13,758 shares of the company's stock worth $2,561,000 after buying an additional 6,403 shares during the period. China Universal Asset Management Co. Ltd. lifted its holdings in Zscaler by 112.8% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 1,917 shares of the company's stock worth $328,000 after purchasing an additional 1,016 shares in the last quarter. abrdn plc lifted its holdings in shares of Zscaler by 14.7% in the third quarter. abrdn plc now owns 29,602 shares of the company's stock worth $5,060,000 after buying an additional 3,783 shares in the last quarter. Pallas Capital Advisors LLC bought a new position in shares of Zscaler during the 3rd quarter valued at about $423,000. Finally, J.W. Cole Advisors Inc. boosted its stake in Zscaler by 104.0% during the third quarter. J.W. Cole Advisors Inc. now owns 2,405 shares of the company's stock valued at $411,000 after buying an additional 1,226 shares during the last quarter. 46.45% of the stock is currently owned by institutional investors.

Zscaler Price Performance

ZS stock traded up $1.80 during trading on Friday, hitting $182.59. The stock had a trading volume of 1,238,999 shares, compared to its average volume of 2,053,738. Zscaler, Inc. has a twelve month low of $153.45 and a twelve month high of $259.61. The stock has a market capitalization of $27.84 billion, a P/E ratio of -456.48 and a beta of 0.82. The company's 50-day moving average price is $179.63 and its two-hundred day moving average price is $180.85.

Zscaler (NASDAQ:ZS - Get Free Report) last released its quarterly earnings data on Tuesday, September 3rd. The company reported ($0.05) EPS for the quarter, beating analysts' consensus estimates of ($0.14) by $0.09. The company had revenue of $592.90 million during 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 quarterly revenue was up 30.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.17) EPS. As a group, sell-side analysts expect that Zscaler, Inc. will post -0.95 EPS for the current fiscal year.

Insider Buying and Selling at Zscaler

In related news, insider Robert Schlossman sold 1,435 shares of Zscaler stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $181.70, for a total value of $260,739.50. Following the completion of the sale, the insider now owns 105,806 shares in the company, valued at approximately $19,224,950.20. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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 value of $260,739.50. Following the completion of the transaction, 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 document filed with the SEC, which can be accessed through the SEC website. Also, Director Andrew William Fraser Brown sold 8,000 shares of the business's stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $174.10, for a total transaction of $1,392,800.00. Following the completion of the transaction, the director now owns 25,907 shares of the company's stock, valued at approximately $4,510,408.70. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 30,502 shares of company stock worth $5,256,651 over the last quarter. 19.20% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

ZS has been the subject of several recent research reports. Oppenheimer dropped their price target on Zscaler from $260.00 to $230.00 and set an "outperform" rating for the company in a research report on Wednesday, September 4th. Piper Sandler lowered their price objective on shares of Zscaler from $255.00 to $215.00 and set an "overweight" rating for the company in a research report on Wednesday, September 4th. JPMorgan Chase & Co. dropped their price target on Zscaler from $230.00 to $220.00 and set an "overweight" rating on the stock in a research report on Wednesday, September 4th. Cantor Fitzgerald cut their price objective on shares of Zscaler from $200.00 to $170.00 and set a "neutral" rating on the stock in a report on Wednesday, September 4th. Finally, Mizuho cut Zscaler from an "outperform" rating to a "neutral" rating and set a $220.00 price objective for the company. in a research note on Tuesday, July 16th. Ten 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. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $216.73.

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.