Allspring Global Investments Holdings LLC Sells 126,617 Shares of Zscaler, Inc. (NASDAQ:ZS)

Allspring Global Investments Holdings LLC lessened its position in shares of Zscaler, Inc. (NASDAQ:ZS - Free Report) by 99.8% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 199 shares of the company's stock after selling 126,617 shares during the quarter. Allspring Global Investments Holdings LLC's holdings in Zscaler were worth $34,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in ZS. Quest Partners LLC acquired a new stake in Zscaler in the 2nd quarter valued at approximately $28,000. Asset Dedication LLC lifted its position in shares of Zscaler by 436.8% during the 2nd quarter. Asset Dedication LLC now owns 204 shares of the company's stock worth $39,000 after purchasing an additional 166 shares during the last quarter. American Capital Advisory LLC purchased a new stake in shares of Zscaler during the 2nd quarter worth $50,000. GAMMA Investing LLC lifted its position in shares of Zscaler by 21.3% during the 2nd quarter. GAMMA Investing LLC now owns 382 shares of the company's stock worth $73,000 after purchasing an additional 67 shares during the last quarter. Finally, Quarry LP lifted its position in shares of Zscaler by 613.0% during the 2nd quarter. Quarry LP now owns 385 shares of the company's stock worth $74,000 after purchasing an additional 331 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 $6.12 during trading on Wednesday, reaching $193.03. The company had a trading volume of 1,745,009 shares, compared to its average volume of 2,041,685. The firm's fifty day moving average is $179.17 and its 200 day moving average is $181.16. The firm has a market capitalization of $29.44 billion, a PE ratio of -467.26 and a beta of 0.82. Zscaler, Inc. has a twelve month low of $153.45 and a twelve month high of $259.61.

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

Insider Buying and Selling at Zscaler

In other Zscaler 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 value of $824,370.64. Following the completion of the sale, the insider now directly owns 103,259 shares of the company's stock, valued at $17,686,201.52. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, CEO Jagtar Singh Chaudhry sold 2,852 shares of the company's stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $171.28, for a total transaction of $488,490.56. Following the completion of the sale, the chief executive officer now directly owns 361,432 shares of the company's stock, valued at approximately $61,906,072.96. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Michael J. Rich sold 4,813 shares of the company's stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $171.28, for a total transaction of $824,370.64. Following the sale, the insider now directly owns 103,259 shares of the company's stock, valued at approximately $17,686,201.52. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 30,502 shares of company stock worth $5,256,651. 19.20% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of brokerages have recently commented on ZS. Cantor Fitzgerald reduced their target price on shares of Zscaler from $200.00 to $170.00 and set a "neutral" rating for the company in a report on Wednesday, September 4th. BNP Paribas began coverage on shares of Zscaler in a report on Tuesday, October 8th. They issued a "neutral" rating and a $180.00 target price for the company. BMO Capital Markets reduced their target price on shares of Zscaler from $208.00 to $197.00 and set an "outperform" rating for the company in a report on Wednesday, September 4th. Stifel Nicolaus reiterated a "buy" rating and set a $220.00 price target on shares of Zscaler in a research note on Wednesday, September 4th. Finally, Susquehanna reiterated a "positive" rating and set a $210.00 price target on shares of Zscaler in a research note on Thursday, September 5th. Ten research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Zscaler presently has an average rating of "Moderate Buy" and a consensus target price of $216.73.

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.