Zscaler, Inc. (NASDAQ:ZS) Shares Sold by Renaissance Technologies LLC

Renaissance Technologies LLC lessened its stake in Zscaler, Inc. (NASDAQ:ZS) by 62.5% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 483,682 shares of the company’s stock after selling 806,100 shares during the quarter. Renaissance Technologies LLC’s holdings in Zscaler were worth $92,959,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of ZS. Private Advisor Group LLC grew its position in shares of Zscaler by 42.8% during the 4th quarter. Private Advisor Group LLC now owns 2,101 shares of the company’s stock valued at $465,000 after buying an additional 630 shares during the last quarter. Principal Securities Inc. bought a new stake in shares of Zscaler during the 4th quarter valued at about $82,000. Dimensional Fund Advisors LP grew its position in shares of Zscaler by 3.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 145,455 shares of the company’s stock valued at $32,230,000 after buying an additional 4,257 shares during the last quarter. Principal Financial Group Inc. grew its position in shares of Zscaler by 721.1% during the 4th quarter. Principal Financial Group Inc. now owns 88,592 shares of the company’s stock valued at $19,628,000 after buying an additional 77,802 shares during the last quarter. Finally, Janney Montgomery Scott LLC grew its position in shares of Zscaler by 1.3% during the 4th quarter. Janney Montgomery Scott LLC now owns 5,665 shares of the company’s stock valued at $1,255,000 after buying an additional 70 shares during the last quarter. Institutional investors and hedge funds own 46.45% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on ZS shares. JPMorgan Chase & Co. lowered their price objective on shares of Zscaler from $230.00 to $220.00 and set an “overweight” rating for the company in a research report on Wednesday, September 4th. Susquehanna reaffirmed a “positive” rating and set a $210.00 price objective on shares of Zscaler in a research report on Thursday, September 5th. Robert W. Baird decreased their target price on shares of Zscaler from $260.00 to $225.00 and set an “outperform” rating for the company in a research report on Wednesday, September 4th. Morgan Stanley upped their target price on shares of Zscaler from $202.00 to $215.00 and gave the stock an “equal weight” rating in a research report on Monday, August 26th. Finally, Wells Fargo & Company decreased their target price on shares of Zscaler from $182.00 to $180.00 and set an “equal weight” rating for the company in a research report on Wednesday, September 4th. Nine equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $218.39.

Zscaler Stock Up 1.0 %

Shares of NASDAQ:ZS opened at $171.78 on Tuesday. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.75 and a current ratio of 1.75. The company has a market cap of $25.96 billion, a PE ratio of -336.82 and a beta of 0.82. Zscaler, Inc. has a 52 week low of $146.59 and a 52 week high of $259.61. The firm has a 50 day simple moving average of $183.45 and a 200 day simple moving average of $183.94.

Zscaler (NASDAQ:ZS) last issued its quarterly earnings results on Tuesday, September 3rd. The company reported $0.88 EPS for the quarter, beating the consensus estimate of $0.70 by $0.18. The business had revenue of $592.90 million during the quarter, compared to the consensus estimate of $567.46 million. Zscaler had a negative net margin of 2.66% and a negative return on equity of 3.75%. The firm’s quarterly revenue was up 30.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.17) EPS. As a group, research analysts expect that Zscaler, Inc. will post -0.92 earnings per share for the current year.

Insider Activity at Zscaler

In related news, CFO Remo Canessa sold 7,981 shares of the company’s stock in a transaction that occurred on 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 completion of the sale, the chief financial officer now owns 243,486 shares in the company, valued at approximately $43,148,154.06. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 19.20% of the stock is owned by insiders.

Zscaler Company 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.