Zscaler, Inc. (NASDAQ:ZS) Shares Sold by Spirit of America Management Corp NY

Spirit of America Management Corp NY cut its holdings in shares of Zscaler, Inc. (NASDAQ:ZS) by 11.1% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,000 shares of the company’s stock after selling 250 shares during the quarter. Spirit of America Management Corp NY’s holdings in Zscaler were worth $361,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in ZS. Prestige Wealth Management Group LLC bought a new stake in shares of Zscaler in the 3rd quarter valued at approximately $31,000. True Wealth Design LLC boosted its holdings in Zscaler by 18,500.0% in the third quarter. True Wealth Design LLC now owns 186 shares of the company’s stock worth $32,000 after purchasing an additional 185 shares during the period. Versant Capital Management Inc increased its stake in Zscaler by 136.8% during the fourth quarter. Versant Capital Management Inc now owns 180 shares of the company’s stock valued at $32,000 after purchasing an additional 104 shares during the last quarter. Modus Advisors LLC acquired a new stake in shares of Zscaler during the fourth quarter worth $36,000. Finally, Crews Bank & Trust bought a new position in shares of Zscaler in the 4th quarter worth about $36,000. 46.45% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Zscaler

In related news, CEO Jagtar Singh Chaudhry sold 2,863 shares of the business’s stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $200.32, for a total value of $573,516.16. Following the completion of the transaction, the chief executive officer now directly owns 358,569 shares in the company, valued at approximately $71,828,542.08. The trade was a 0.79 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Remo Canessa sold 3,703 shares of the company’s stock in a transaction that occurred on 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 transaction, 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 position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 10,248 shares of company stock valued at $2,052,879. Corporate insiders own 18.10% of the company’s stock.

Zscaler Price Performance

Zscaler stock opened at $203.73 on Wednesday. Zscaler, Inc. has a one year low of $153.45 and a one year high of $259.61. The company’s fifty day moving average price is $194.24 and its two-hundred day moving average price is $187.92.

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

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. JPMorgan Chase & Co. increased their target price on Zscaler from $220.00 to $240.00 and gave the stock an “overweight” rating in a research report on Friday, November 29th. Cantor Fitzgerald upgraded shares of Zscaler to a “hold” rating in a research report on Monday, November 18th. Citigroup boosted their target price on shares of Zscaler from $230.00 to $235.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Scotiabank lifted their price target on Zscaler from $205.00 to $225.00 and gave the company a “sector outperform” rating in a report on Tuesday, January 21st. Finally, Loop Capital reduced their price objective on Zscaler from $200.00 to $195.00 and set a “hold” rating for the company in a research report on Tuesday, December 3rd. Eleven investment analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $225.47.

About Zscaler

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.