Penserra Capital Management LLC Decreases Stock Holdings in Zscaler, Inc. (NASDAQ:ZS)

Penserra Capital Management LLC cut its holdings in Zscaler, Inc. (NASDAQ:ZS) by 10.2% in the third quarter, HoldingsChannel reports. The firm owned 346,669 shares of the company’s stock after selling 39,308 shares during the quarter. Zscaler accounts for 1.3% of Penserra Capital Management LLC’s portfolio, making the stock its 16th largest position. Penserra Capital Management LLC’s holdings in Zscaler were worth $59,258,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of ZS. Quest Partners LLC purchased a new position in shares of Zscaler during the 2nd quarter worth about $28,000. Asset Dedication LLC grew its stake in shares of Zscaler by 436.8% during the second quarter. Asset Dedication LLC now owns 204 shares of the company’s stock valued at $39,000 after buying an additional 166 shares during the last quarter. American Capital Advisory LLC purchased a new stake in shares of Zscaler in the second quarter worth approximately $50,000. GAMMA Investing LLC lifted its stake in shares of Zscaler by 21.3% during the 2nd quarter. GAMMA Investing LLC now owns 382 shares of the company’s stock worth $73,000 after acquiring an additional 67 shares during the last quarter. Finally, Quarry LP boosted its holdings in Zscaler by 613.0% during the 2nd quarter. Quarry LP now owns 385 shares of the company’s stock valued at $74,000 after acquiring an additional 331 shares during the period. Institutional investors own 46.45% of the company’s stock.

Insider Activity

In related news, insider Robert Schlossman sold 1,435 shares of the business’s stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $181.70, for a total value of $260,739.50. Following the completion of the sale, the insider now owns 105,806 shares of the company’s stock, valued at approximately $19,224,950.20. The trade was a 1.34 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Andrew William Fraser Brown sold 8,000 shares of the company’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $174.10, for a total transaction of $1,392,800.00. Following the transaction, the director now owns 25,907 shares of the company’s stock, valued at approximately $4,510,408.70. This trade represents a 23.59 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 30,502 shares of company stock worth $5,256,651 in the last ninety days. Company insiders own 19.20% of the company’s stock.

Zscaler Stock Performance

Zscaler stock opened at $210.96 on Friday. The stock’s 50 day simple moving average is $186.49 and its two-hundred day simple moving average is $183.60. Zscaler, Inc. has a 12 month low of $153.45 and a 12 month high of $259.61.

Zscaler (NASDAQ:ZS) last released its quarterly earnings results on Tuesday, September 3rd. The company reported ($0.05) EPS for the quarter, beating the consensus estimate of ($0.14) by $0.09. Zscaler had a negative net margin of 2.66% and a negative return on equity of 3.46%. The company had revenue of $592.90 million for the quarter, compared to analyst estimates of $567.46 million. During the same quarter last year, the business earned ($0.17) earnings per share. The firm’s revenue was up 30.3% on a year-over-year basis. As a group, equities research analysts expect that Zscaler, Inc. will post -0.95 earnings per share for the current year.

Wall Street Analyst Weigh In

ZS has been the subject of a number of recent analyst reports. BTIG Research lowered their target price on shares of Zscaler from $220.00 to $205.00 and set a “buy” rating for the company in a research note on Wednesday, September 4th. Robert W. Baird dropped their target price on shares of Zscaler from $260.00 to $225.00 and set an “outperform” rating on the stock in a research note on Wednesday, September 4th. JPMorgan Chase & Co. reduced their target price on shares of Zscaler from $230.00 to $220.00 and set an “overweight” rating on the stock in a research report on Wednesday, September 4th. Scotiabank lowered their price target on Zscaler from $210.00 to $195.00 and set a “sector outperform” rating for the company in a report on Wednesday, September 4th. Finally, Rosenblatt Securities reissued a “neutral” rating and issued a $190.00 price objective on shares of Zscaler in a research note on Wednesday, September 4th. Ten research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Zscaler currently has an average rating of “Moderate Buy” and a consensus price target of $218.55.

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.