Freestone Capital Holdings LLC Sells 4,690 Shares of Zscaler, Inc. (NASDAQ:ZS)

Freestone Capital Holdings LLC cut its position in shares of Zscaler, Inc. (NASDAQ:ZS) by 71.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,900 shares of the company’s stock after selling 4,690 shares during the quarter. Freestone Capital Holdings LLC’s holdings in Zscaler were worth $366,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. EntryPoint Capital LLC purchased a new position in Zscaler during the first quarter worth about $166,000. Vident Advisory LLC boosted its holdings in Zscaler by 244.1% during the first quarter. Vident Advisory LLC now owns 33,341 shares of the company’s stock worth $6,422,000 after purchasing an additional 23,653 shares during the last quarter. Natixis boosted its stake in Zscaler by 95.3% in the first quarter. Natixis now owns 194,224 shares of the company’s stock valued at $37,413,000 after acquiring an additional 94,790 shares during the last quarter. Evolutionary Tree Capital Management LLC purchased a new position in Zscaler in the first quarter valued at about $1,286,000. Finally, UniSuper Management Pty Ltd boosted its stake in Zscaler by 116.7% in the first quarter. UniSuper Management Pty Ltd now owns 1,300 shares of the company’s stock valued at $250,000 after acquiring an additional 700 shares during the last quarter. 46.45% of the stock is currently owned by hedge funds and other institutional investors.

Zscaler Price Performance

NASDAQ:ZS traded down $0.64 on Friday, reaching $181.36. 1,026,915 shares of the stock traded hands, compared to its average volume of 1,798,012. The company has a quick ratio of 1.75, a current ratio of 1.75 and a debt-to-equity ratio of 1.04. Zscaler, Inc. has a 12 month low of $131.59 and a 12 month high of $259.61. The company’s fifty day simple moving average is $184.39 and its 200 day simple moving average is $199.45.

Zscaler (NASDAQ:ZS) last announced its quarterly earnings results on Thursday, May 30th. The company reported $0.15 EPS for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.39. Zscaler had a negative net margin of 3.62% and a negative return on equity of 5.84%. The firm had revenue of $553.20 million during the quarter, compared to analyst estimates of $535.55 million. As a group, research analysts expect that Zscaler, Inc. will post -0.34 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have weighed in on ZS. Needham & Company LLC reiterated a “strong-buy” rating and issued a $290.00 target price on shares of Zscaler in a research note on Friday, June 14th. KeyCorp upgraded shares of Zscaler from a “sector weight” rating to an “overweight” rating and set a $220.00 target price on the stock in a research note on Thursday, April 18th. BTIG Research dropped their target price on shares of Zscaler from $258.00 to $220.00 and set a “buy” rating on the stock in a research note on Friday, May 31st. UBS Group dropped their target price on shares of Zscaler from $300.00 to $270.00 and set a “buy” rating on the stock in a research note on Wednesday, May 29th. Finally, Robert W. Baird dropped their price target on shares of Zscaler from $265.00 to $260.00 and set an “outperform” rating on the stock in a research note on Friday, May 24th. Eight analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $225.21.

Insider Transactions at Zscaler

In other news, CFO Remo Canessa sold 7,981 shares of Zscaler 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 directly owns 243,486 shares in the company, valued at $43,148,154.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 19.20% 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.