GraniteShares Advisors LLC Lowers Stake in Zscaler, Inc. (NASDAQ:ZS)

GraniteShares Advisors LLC reduced its stake in shares of Zscaler, Inc. (NASDAQ:ZS) by 23.6% in the fourth quarter, Holdings Channel reports. The firm owned 2,574 shares of the company’s stock after selling 795 shares during the period. GraniteShares Advisors LLC’s holdings in Zscaler were worth $570,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. Mirae Asset Global Investments Co. Ltd. lifted its stake in Zscaler by 14.1% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 557,345 shares of the company’s stock worth $134,476,000 after acquiring an additional 68,982 shares during the period. AlphaCrest Capital Management LLC bought a new position in Zscaler during the 1st quarter worth about $244,000. D.A. Davidson & CO. grew its holdings in Zscaler by 41.6% during the 1st quarter. D.A. Davidson & CO. now owns 1,130 shares of the company’s stock worth $273,000 after acquiring an additional 332 shares in the last quarter. MetLife Investment Management LLC bought a new position in Zscaler during the 1st quarter worth about $1,232,000. Finally, Dimensional Fund Advisors LP grew its holdings in Zscaler by 1.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 121,598 shares of the company’s stock worth $29,338,000 after acquiring an additional 2,153 shares in the last quarter. 46.45% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Zscaler

In other news, CEO Jagtar Singh Chaudhry sold 2,115 shares of Zscaler stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $193.15, for a total transaction of $408,512.25. Following the completion of the transaction, the chief executive officer now directly owns 367,152 shares of the company’s stock, valued at approximately $70,915,408.80. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, insider Syam Nair sold 2,893 shares of Zscaler stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $193.15, for a total transaction of $558,782.95. Following the completion of the transaction, the insider now directly owns 137,294 shares of the company’s stock, valued at approximately $26,518,336.10. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Jagtar Singh Chaudhry sold 2,115 shares of Zscaler stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $193.15, for a total transaction of $408,512.25. Following the transaction, the chief executive officer now directly owns 367,152 shares of the company’s stock, valued at $70,915,408.80. The disclosure for this sale can be found here. Insiders have sold 26,715 shares of company stock valued at $5,865,882 in the last 90 days. 19.20% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. Cantor Fitzgerald reiterated a “neutral” rating and set a $230.00 target price on shares of Zscaler in a report on Wednesday, March 27th. Sanford C. Bernstein dropped their target price on shares of Zscaler from $311.00 to $280.00 and set an “outperform” rating on the stock in a report on Friday, March 1st. The Goldman Sachs Group increased their target price on shares of Zscaler from $189.00 to $215.00 and gave the stock a “neutral” rating in a report on Monday, March 4th. JPMorgan Chase & Co. increased their price target on shares of Zscaler from $212.00 to $240.00 and gave the company a “neutral” rating in a research report on Monday, February 26th. Finally, Macquarie reissued an “outperform” rating and set a $245.00 price target on shares of Zscaler in a research report on Tuesday, March 19th. Six investment analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $230.55.

Zscaler Price Performance

Shares of ZS opened at $175.14 on Wednesday. The business’s 50-day moving average is $210.76 and its two-hundred day moving average is $203.02. The company has a market capitalization of $26.25 billion, a P/E ratio of -183.49 and a beta of 0.80. Zscaler, Inc. has a fifty-two week low of $84.93 and a fifty-two week high of $259.61. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.98 and a current ratio of 1.98.

Zscaler (NASDAQ:ZS) last posted its earnings results on Thursday, February 29th. The company reported ($0.16) EPS for the quarter, topping the consensus estimate of ($0.24) by $0.08. The firm had revenue of $525.00 million for the quarter, compared to analyst estimates of $507.56 million. Zscaler had a negative return on equity of 14.60% and a negative net margin of 7.32%. Research analysts predict that Zscaler, Inc. will post -0.81 earnings per share for the current year.

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.