Benjamin F. Edwards & Company Inc. boosted its holdings in Zscaler Inc (NASDAQ:ZS) by 198.5% in the third quarter, Holdings Channel reports. The institutional investor owned 5,075 shares of the company’s stock after acquiring an additional 3,375 shares during the quarter. Benjamin F. Edwards & Company Inc.’s holdings in Zscaler were worth $240,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also added to or reduced their stakes in the company. Alps Advisors Inc. grew its position in shares of Zscaler by 58.5% during the 3rd quarter. Alps Advisors Inc. now owns 13,976 shares of the company’s stock valued at $661,000 after purchasing an additional 5,161 shares in the last quarter. SG Americas Securities LLC grew its position in Zscaler by 43.2% in the third quarter. SG Americas Securities LLC now owns 16,668 shares of the company’s stock worth $788,000 after acquiring an additional 5,028 shares in the last quarter. First Trust Advisors LP grew its position in Zscaler by 53.8% in the third quarter. First Trust Advisors LP now owns 1,257,760 shares of the company’s stock worth $59,442,000 after acquiring an additional 440,077 shares in the last quarter. Symmetry Partners LLC purchased a new position in Zscaler in the third quarter worth $283,000. Finally, Alexandria Capital LLC grew its position in Zscaler by 62.8% in the third quarter. Alexandria Capital LLC now owns 21,143 shares of the company’s stock worth $999,000 after acquiring an additional 8,158 shares in the last quarter. Institutional investors and hedge funds own 33.26% of the company’s stock.
ZS has been the subject of several research reports. Piper Jaffray Companies cut their target price on shares of Zscaler from $82.00 to $70.00 and set an “overweight” rating for the company in a research report on Wednesday, September 11th. Morgan Stanley cut their target price on shares of Zscaler from $47.00 to $40.00 and set an “underweight” rating for the company in a research report on Tuesday, October 22nd. Zacks Investment Research lowered shares of Zscaler from a “buy” rating to a “hold” rating in a research report on Saturday, August 3rd. ValuEngine upgraded shares of Zscaler from a “sell” rating to a “hold” rating in a research report on Monday, October 21st. Finally, SunTrust Banks initiated coverage on shares of Zscaler in a research report on Wednesday, October 2nd. They issued a “buy” rating and a $73.00 target price for the company. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eight have assigned a buy rating to the stock. Zscaler presently has an average rating of “Hold” and an average target price of $63.58.
Zscaler (NASDAQ:ZS) last posted its quarterly earnings results on Tuesday, September 10th. The company reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.08) by $0.06. The business had revenue of $86.11 million during the quarter, compared to the consensus estimate of $82.15 million. Zscaler had a negative net margin of 9.46% and a negative return on equity of 9.46%. As a group, analysts predict that Zscaler Inc will post -0.24 earnings per share for the current year.
In other news, Director Karen Blasing sold 1,000 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $68.09, for a total transaction of $68,090.00. Following the completion of the transaction, the director now directly owns 3,595 shares of the company’s stock, valued at $244,783.55. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Amit Sinha sold 4,807 shares of the company’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $70.12, for a total transaction of $337,066.84. Following the transaction, the executive vice president now directly owns 127,664 shares of the company’s stock, valued at $8,951,799.68. The disclosure for this sale can be found here. Insiders sold 17,421 shares of company stock valued at $1,161,189 over the last three months. 27.40% of the stock is currently owned by insiders.
Zscaler Company Profile
Zscaler, Inc operates as a cloud security company worldwide. The company's flagship services include Zscaler Internet Access solution that connect users to externally managed applications, including software-as-a-service applications and Internet destinations; and Zscaler Private Access solution, which is designed to provide access to internally managed applications, either hosted internally in data centers, and private or public clouds.
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