Kingsview Wealth Management LLC Lowers Holdings in Zscaler, Inc. (NASDAQ:ZS)

Kingsview Wealth Management LLC trimmed its position in shares of Zscaler, Inc. (NASDAQ:ZS) by 50.0% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 5,190 shares of the company’s stock after selling 5,184 shares during the quarter. Kingsview Wealth Management LLC’s holdings in Zscaler were worth $1,150,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Polar Capital Holdings Plc purchased a new stake in shares of Zscaler during the third quarter valued at $61,681,000. Trivest Advisors Ltd bought a new stake in shares of Zscaler in the fourth quarter worth approximately $72,051,000. International Assets Investment Management LLC grew its stake in shares of Zscaler by 19,012.4% in the fourth quarter. International Assets Investment Management LLC now owns 223,997 shares of the company’s stock worth $49,629,000 after acquiring an additional 222,825 shares during the period. DekaBank Deutsche Girozentrale boosted its holdings in Zscaler by 370.3% in the fourth quarter. DekaBank Deutsche Girozentrale now owns 249,310 shares of the company’s stock worth $55,660,000 after purchasing an additional 196,296 shares during the last quarter. Finally, Federated Hermes Inc. purchased a new stake in Zscaler in the fourth quarter worth approximately $39,246,000. 46.45% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

ZS has been the topic of several research analyst reports. Needham & Company LLC reissued a “strong-buy” rating and set a $290.00 price target on shares of Zscaler in a report on Friday, March 1st. KeyCorp raised Zscaler from a “sector weight” rating to an “overweight” rating and set a $220.00 target price on the stock in a research report on Thursday, April 18th. Sanford C. Bernstein reduced their price target on shares of Zscaler from $311.00 to $280.00 and set an “outperform” rating for the company in a research report on Friday, March 1st. Robert W. Baird raised their price objective on shares of Zscaler from $255.00 to $265.00 and gave the stock an “outperform” rating in a report on Friday, March 1st. Finally, Mizuho cut their target price on shares of Zscaler from $310.00 to $240.00 and set a “buy” rating for the company in a research report on Friday. Five research analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Zscaler presently has an average rating of “Moderate Buy” and a consensus price target of $232.29.

Zscaler Stock Down 0.3 %

ZS opened at $178.86 on Friday. The company has a market capitalization of $26.81 billion, a PE ratio of -188.27 and a beta of 0.85. The firm has a 50-day simple moving average of $183.68 and a two-hundred day simple moving average of $204.68. The company has a quick ratio of 1.98, a current ratio of 1.98 and a debt-to-equity ratio of 1.19. Zscaler, Inc. has a 52 week low of $118.16 and a 52 week high of $259.61.

Zscaler (NASDAQ:ZS) last announced its quarterly earnings results on Thursday, February 29th. The company reported ($0.16) EPS for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.08. The company had revenue of $525.00 million during 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%. Analysts forecast that Zscaler, Inc. will post -0.8 earnings per share for the current fiscal year.

Insider Activity

In other Zscaler news, CFO Remo Canessa sold 7,707 shares of Zscaler stock in a transaction on Monday, March 18th. The shares were sold at an average price of $193.15, for a total value of $1,488,607.05. Following the completion of the transaction, the chief financial officer now directly owns 255,943 shares of the company’s stock, valued at approximately $49,435,390.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CFO Remo Canessa sold 7,707 shares of Zscaler stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $193.15, for a total value of $1,488,607.05. Following the completion of the transaction, the chief financial officer now owns 255,943 shares in the company, valued at approximately $49,435,390.45. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Syam Nair sold 2,893 shares of the business’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $193.15, for a total value of $558,782.95. Following the transaction, the insider now directly owns 137,294 shares in the company, valued at approximately $26,518,336.10. The disclosure for this sale can be found here. In the last ninety days, insiders sold 12,715 shares of company stock worth $2,455,902. 19.20% of the stock is currently owned by insiders.

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.