Freedom Investment Management Inc. Lowers Stock Position in Zscaler, Inc. (NASDAQ:ZS)

Freedom Investment Management Inc. trimmed its holdings in shares of Zscaler, Inc. (NASDAQ:ZS) by 7.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,075 shares of the company’s stock after selling 252 shares during the quarter. Freedom Investment Management Inc.’s holdings in Zscaler were worth $526,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. EverSource Wealth Advisors LLC lifted its position in shares of Zscaler by 8.6% during the second quarter. EverSource Wealth Advisors LLC now owns 832 shares of the company’s stock valued at $149,000 after buying an additional 66 shares during the last quarter. GAMMA Investing LLC boosted 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 in the last quarter. American Trust grew its holdings in Zscaler by 6.1% in the second quarter. American Trust now owns 1,210 shares of the company’s stock worth $233,000 after purchasing an additional 70 shares during the last quarter. Valley Brook Capital Group Inc. increased its position in shares of Zscaler by 4.0% during the third quarter. Valley Brook Capital Group Inc. now owns 1,972 shares of the company’s stock worth $337,000 after purchasing an additional 75 shares in the last quarter. Finally, Swedbank AB lifted its holdings in shares of Zscaler by 0.8% during the 2nd quarter. Swedbank AB now owns 9,036 shares of the company’s stock valued at $1,737,000 after purchasing an additional 76 shares during the last quarter. Institutional investors own 46.45% of the company’s stock.

Zscaler Stock Up 0.8 %

Shares of Zscaler stock opened at $206.59 on Friday. The firm has a market cap of $31.70 billion, a PE ratio of -516.46 and a beta of 0.82. Zscaler, Inc. has a twelve month low of $153.45 and a twelve month high of $259.61. The business has a 50-day moving average price of $189.44 and a 200 day moving average price of $184.50.

Zscaler (NASDAQ:ZS) last posted 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. 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 previous year, the business earned ($0.17) earnings per share. The business’s revenue was up 30.3% compared to the same quarter last year. On average, sell-side analysts expect that Zscaler, Inc. will post -0.95 EPS for the current year.

Insider Activity

In other news, Director Andrew William Fraser Brown sold 8,000 shares of the stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $174.10, for a total value of $1,392,800.00. Following the completion of the sale, the director now directly owns 25,907 shares in the company, valued at $4,510,408.70. This represents a 23.59 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Michael J. Rich sold 4,813 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $171.28, for a total transaction of $824,370.64. Following the completion of the transaction, the insider now directly owns 103,259 shares in the company, valued at approximately $17,686,201.52. This represents a 4.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 30,502 shares of company stock worth $5,256,651 over the last 90 days. 19.20% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Needham & Company LLC decreased their price target on Zscaler from $290.00 to $235.00 and set a “strong-buy” rating for the company in a research note on Wednesday, September 4th. BTIG Research increased their price objective on shares of Zscaler from $205.00 to $238.00 and gave the company a “buy” rating in a research report on Wednesday. Stifel Nicolaus boosted their target price on shares of Zscaler from $220.00 to $235.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. JMP Securities reaffirmed a “market outperform” rating and issued a $270.00 price target on shares of Zscaler in a report on Monday, November 4th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $230.00 price objective on shares of Zscaler in a report on Wednesday, September 4th. Ten equities research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Zscaler has a consensus rating of “Moderate Buy” and an average price target of $221.13.

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.