Avestar Capital LLC Sells 2,100 Shares of Zscaler, Inc. (NASDAQ:ZS)

Avestar Capital LLC decreased its holdings in shares of Zscaler, Inc. (NASDAQ:ZS) by 62.3% in the 4th quarter, Holdings Channel.com reports. The firm owned 1,272 shares of the company’s stock after selling 2,100 shares during the quarter. Avestar Capital LLC’s holdings in Zscaler were worth $229,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Global X Japan Co. Ltd. grew its position in Zscaler by 127.4% in the 4th quarter. Global X Japan Co. Ltd. now owns 141 shares of the company’s stock worth $25,000 after purchasing an additional 79 shares during the last quarter. Stonebridge Financial Group LLC acquired a new stake in Zscaler during the fourth quarter worth about $29,000. Prestige Wealth Management Group LLC bought a new position in Zscaler during the third quarter valued at about $31,000. True Wealth Design LLC raised its holdings in Zscaler by 18,500.0% in the 3rd quarter. True Wealth Design LLC now owns 186 shares of the company’s stock valued at $32,000 after acquiring an additional 185 shares in the last quarter. Finally, Versant Capital Management Inc lifted its position in shares of Zscaler by 136.8% in the 4th quarter. Versant Capital Management Inc now owns 180 shares of the company’s stock worth $32,000 after acquiring an additional 104 shares during the period. Institutional investors and hedge funds own 46.45% of the company’s stock.

Zscaler Stock Performance

Shares of ZS stock opened at $212.70 on Friday. The company has a market capitalization of $32.64 billion, a P/E ratio of -850.80 and a beta of 0.89. Zscaler, Inc. has a 52 week low of $153.45 and a 52 week high of $255.00. The company’s 50 day moving average price is $194.79 and its two-hundred day moving average price is $189.35.

Zscaler (NASDAQ:ZS) last posted its quarterly earnings data on Monday, December 2nd. The company reported $0.77 EPS for the quarter, beating the consensus estimate of $0.63 by $0.14. The business had revenue of $628.00 million for the quarter, compared to analysts’ expectations of $605.51 million. Zscaler had a negative net margin of 1.58% and a negative return on equity of 0.75%. The firm’s revenue was up 26.4% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.18) EPS. Analysts forecast that Zscaler, Inc. will post -0.1 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Syam Nair sold 3,682 shares of the firm’s stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $200.32, for a total value of $737,578.24. Following the completion of the transaction, the insider now directly owns 142,866 shares of the company’s stock, valued at approximately $28,618,917.12. This trade represents a 2.51 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Remo Canessa sold 3,703 shares of the firm’s stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $200.32, for a total transaction of $741,784.96. Following the completion of the sale, the chief financial officer now owns 220,635 shares of the company’s stock, valued at $44,197,603.20. This trade represents a 1.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 10,248 shares of company stock worth $2,052,879. 18.10% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages recently commented on ZS. Royal Bank of Canada restated an “outperform” rating and issued a $230.00 target price on shares of Zscaler in a research note on Tuesday, December 3rd. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Zscaler from $200.00 to $225.00 and gave the stock a “buy” rating in a report on Tuesday, December 3rd. Cantor Fitzgerald raised shares of Zscaler to a “hold” rating in a research report on Monday, November 18th. JMP Securities reiterated a “market outperform” rating and issued a $240.00 price objective (down from $270.00) on shares of Zscaler in a research note on Tuesday, December 3rd. Finally, Oppenheimer upped their price target on Zscaler from $230.00 to $250.00 and gave the company an “outperform” rating in a research report on Tuesday, December 3rd. Eleven investment analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $225.63.

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.