Prentice Wealth Management LLC Has $268,000 Position in Zscaler, Inc. (NASDAQ:ZS)

Prentice Wealth Management LLC cut its holdings in shares of Zscaler, Inc. (NASDAQ:ZS) by 8.7% during the 4th quarter, Holdings Channel reports. The institutional investor owned 1,483 shares of the company’s stock after selling 142 shares during the quarter. Prentice Wealth Management LLC’s holdings in Zscaler were worth $268,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in ZS. Global X Japan Co. Ltd. grew its position in shares of Zscaler by 127.4% in the 4th quarter. Global X Japan Co. Ltd. now owns 141 shares of the company’s stock valued at $25,000 after buying an additional 79 shares during the last quarter. Stonebridge Financial Group LLC acquired a new position in shares of Zscaler in the fourth quarter worth approximately $29,000. Prestige Wealth Management Group LLC bought a new stake in Zscaler in the third quarter valued at approximately $31,000. Versant Capital Management Inc increased its position in Zscaler by 136.8% during the 4th 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 period. Finally, True Wealth Design LLC raised its holdings in Zscaler by 18,500.0% during the 3rd 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 last quarter. 46.45% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on ZS shares. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $230.00 price objective on shares of Zscaler in a research note on Tuesday, December 3rd. Oppenheimer boosted their target price on shares of Zscaler from $230.00 to $250.00 and gave the company an “outperform” rating in a report on Tuesday, December 3rd. Loop Capital decreased their price target on Zscaler from $200.00 to $195.00 and set a “hold” rating for the company in a report on Tuesday, December 3rd. Barclays boosted their price objective on Zscaler from $220.00 to $250.00 and gave the company an “overweight” rating in a research note on Friday. Finally, Canaccord Genuity Group upped their target price on Zscaler from $220.00 to $230.00 and gave the company a “buy” rating in a research report on Tuesday, December 3rd. Eleven research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $226.56.

Zscaler Stock Down 4.1 %

Shares of NASDAQ:ZS opened at $198.56 on Friday. The business’s 50 day moving average is $195.38 and its 200 day moving average is $190.54. Zscaler, Inc. has a 12-month low of $153.45 and a 12-month high of $251.55. The stock has a market cap of $30.47 billion, a price-to-earnings ratio of -794.24 and a beta of 0.89.

Zscaler (NASDAQ:ZS) last posted its quarterly earnings data on Monday, December 2nd. The company reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.63 by $0.14. The firm had revenue of $628.00 million for the quarter, compared to the consensus estimate of $605.51 million. Zscaler had a negative net margin of 1.58% and a negative return on equity of 0.75%. The business’s revenue for the quarter was up 26.4% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.18) EPS. As a group, equities research analysts expect that Zscaler, Inc. will post -0.1 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Jagtar Singh Chaudhry sold 2,863 shares of the stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $200.32, for a total transaction of $573,516.16. Following the completion of the sale, the chief executive officer now directly owns 358,569 shares of the company’s stock, valued at approximately $71,828,542.08. This trade represents a 0.79 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Remo Canessa sold 3,703 shares of the business’s stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $200.32, for a total value of $741,784.96. Following the completion of the transaction, the chief financial officer now directly owns 220,635 shares in the company, valued at approximately $44,197,603.20. This represents a 1.65 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 10,248 shares of company stock valued at $2,052,879. Corporate insiders own 18.10% of the company’s stock.

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.