True Wealth Design LLC Buys 185 Shares of Zscaler, Inc. (NASDAQ:ZS)

True Wealth Design LLC grew its stake in shares of Zscaler, Inc. (NASDAQ:ZS) by 18,500.0% in the third quarter, Holdings Channel reports. The institutional investor owned 186 shares of the company’s stock after purchasing an additional 185 shares during the period. True Wealth Design LLC’s holdings in Zscaler were worth $32,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Quest Partners LLC acquired a new stake in Zscaler during the second quarter worth $28,000. Asset Dedication LLC lifted its holdings in shares of Zscaler by 436.8% during the 2nd quarter. Asset Dedication LLC now owns 204 shares of the company’s stock worth $39,000 after acquiring an additional 166 shares during the period. American Capital Advisory LLC bought a new position in shares of Zscaler during the 2nd quarter worth about $50,000. GAMMA Investing LLC boosted its position in shares of Zscaler by 21.3% during the 2nd quarter. GAMMA Investing LLC now owns 382 shares of the company’s stock valued at $73,000 after acquiring an additional 67 shares in the last quarter. Finally, Quarry LP increased its stake in Zscaler by 613.0% in the second 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.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Loop Capital cut their price target on shares of Zscaler from $180.00 to $165.00 and set a “hold” rating for the company in a research note on Wednesday, September 4th. JMP Securities reiterated a “market outperform” rating and set a $270.00 price objective on shares of Zscaler in a research note on Monday, November 4th. Morgan Stanley boosted their target price on shares of Zscaler from $202.00 to $215.00 and gave the company an “equal weight” rating in a research note on Monday, August 26th. Wedbush lowered their target price on shares of Zscaler from $260.00 to $220.00 and set an “outperform” rating on the stock in a report on Wednesday, September 4th. Finally, Robert W. Baird cut their price target on shares of Zscaler from $260.00 to $225.00 and set an “outperform” rating for the company in a report on Wednesday, September 4th. Ten equities research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $221.13.

Zscaler Stock Performance

Shares of NASDAQ:ZS opened at $206.59 on Monday. Zscaler, Inc. has a 12 month low of $153.45 and a 12 month high of $259.61. The company’s fifty day simple moving average is $190.12 and its 200 day simple moving average is $184.78.

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

Insider Buying and Selling at Zscaler

In other news, insider Robert Schlossman sold 1,435 shares of the firm’s stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $181.70, for a total value of $260,739.50. Following the completion of the transaction, the insider now owns 105,806 shares in the company, valued at $19,224,950.20. This trade represents a 1.34 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jagtar Singh Chaudhry sold 2,852 shares of Zscaler stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $171.28, for a total value of $488,490.56. Following the completion of the sale, the chief executive officer now directly owns 361,432 shares in the company, valued at approximately $61,906,072.96. This represents a 0.78 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 30,502 shares of company stock worth $5,256,651. Corporate insiders own 18.10% of the company’s stock.

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.