Zscaler, Inc. (NASDAQ:ZS) Stock Holdings Cut by Freestone Capital Holdings LLC

Freestone Capital Holdings LLC reduced its position in shares of Zscaler, Inc. (NASDAQ:ZS) by 71.2% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,900 shares of the company’s stock after selling 4,690 shares during the quarter. Freestone Capital Holdings LLC’s holdings in Zscaler were worth $366,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of Zscaler by 1.3% in the first quarter. Vanguard Group Inc. now owns 8,961,774 shares of the company’s stock valued at $1,726,307,000 after purchasing an additional 118,002 shares in the last quarter. 1832 Asset Management L.P. purchased a new stake in shares of Zscaler in the fourth quarter valued at $217,683,000. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Zscaler by 19.9% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 619,293 shares of the company’s stock valued at $119,294,000 after purchasing an additional 102,616 shares in the last quarter. Norges Bank purchased a new stake in shares of Zscaler in the fourth quarter valued at $117,599,000. Finally, Westfield Capital Management Co. LP lifted its holdings in shares of Zscaler by 19.1% in the fourth quarter. Westfield Capital Management Co. LP now owns 412,063 shares of the company’s stock valued at $91,297,000 after purchasing an additional 65,980 shares in the last quarter. Institutional investors and hedge funds own 46.45% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Remo Canessa sold 7,981 shares of the company’s stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $177.21, for a total value of $1,414,313.01. Following the sale, the chief financial officer now directly owns 243,486 shares of the company’s stock, valued at approximately $43,148,154.06. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 19.20% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Raymond James assumed coverage on Zscaler in a report on Tuesday. They set a “market perform” rating for the company. Royal Bank of Canada increased their target price on shares of Zscaler from $215.00 to $230.00 and gave the stock an “outperform” rating in a research report on Friday, May 31st. Rosenblatt Securities reissued a “neutral” rating and set a $190.00 target price on shares of Zscaler in a research report on Tuesday, May 28th. Canaccord Genuity Group lowered their target price on shares of Zscaler from $260.00 to $220.00 and set a “buy” rating on the stock in a research report on Tuesday, June 4th. Finally, Barclays increased their target price on shares of Zscaler from $205.00 to $210.00 and gave the stock an “overweight” rating in a research report on Friday, May 31st. Eight analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $225.21.

Zscaler Stock Down 0.4 %

Shares of ZS stock traded down $0.64 on Friday, hitting $181.36. The stock had a trading volume of 1,026,915 shares, compared to its average volume of 1,798,012. Zscaler, Inc. has a twelve month low of $131.59 and a twelve month high of $259.61. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.75 and a quick ratio of 1.75. The company has a fifty day moving average price of $184.39 and a two-hundred day moving average price of $199.45.

Zscaler (NASDAQ:ZS) last announced its quarterly earnings results on Thursday, May 30th. The company reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.24) by $0.39. Zscaler had a negative net margin of 3.62% and a negative return on equity of 5.84%. The company had revenue of $553.20 million during the quarter, compared to analyst estimates of $535.55 million. As a group, research analysts expect that Zscaler, Inc. will post -0.34 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.