Bouvel Investment Partners LLC Cuts Stock Position in Zscaler, Inc. (NASDAQ:ZS)

by · The Markets Daily

Bouvel Investment Partners LLC decreased its position in shares of Zscaler, Inc. (NASDAQ:ZS – Free Report) by 0.4% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 17,306 shares of the company’s stock after selling 70 shares during the period. Bouvel Investment Partners LLC’s holdings in Zscaler were worth $2,958,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. International Assets Investment Management LLC boosted its stake in Zscaler by 13,498.6% in the 3rd quarter. International Assets Investment Management LLC now owns 285,299 shares of the company’s stock worth $48,769,000 after purchasing an additional 283,201 shares in the last quarter. Quadrature Capital Ltd acquired a new stake in shares of Zscaler during the first quarter worth $47,217,000. GuoLine Advisory Pte Ltd purchased a new stake in shares of Zscaler during the third quarter valued at $32,660,000. Jupiter Asset Management Ltd. acquired a new position in shares of Zscaler in the 1st quarter valued at $27,954,000. Finally, Massachusetts Financial Services Co. MA purchased a new position in Zscaler in the 2nd quarter worth $25,287,000. 46.45% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Zscaler

In related news, CFO Remo Canessa sold 8,455 shares of Zscaler stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $171.28, for a total transaction of $1,448,172.40. Following the transaction, the chief financial officer now owns 231,793 shares in the company, valued at approximately $39,701,505.04. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, insider Robert Schlossman sold 1,435 shares of the firm’s stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $181.70, for a total transaction of $260,739.50. Following the completion of the sale, the insider now owns 105,806 shares in the company, valued at $19,224,950.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Remo Canessa sold 8,455 shares of the company’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $171.28, for a total value of $1,448,172.40. Following the completion of the transaction, the chief financial officer now owns 231,793 shares in the company, valued at $39,701,505.04. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 30,502 shares of company stock worth $5,256,651. Insiders own 19.20% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Stifel Nicolaus reissued a “buy” rating and issued a $220.00 price objective on shares of Zscaler in a report on Wednesday, September 4th. Barclays cut their price target on shares of Zscaler from $230.00 to $200.00 and set an “overweight” rating on the stock in a report on Wednesday, September 4th. BMO Capital Markets dropped their price objective on shares of Zscaler from $208.00 to $197.00 and set an “outperform” rating on the stock in a report on Wednesday, September 4th. Rosenblatt Securities reiterated a “neutral” rating and issued a $190.00 price objective on shares of Zscaler in a research note on Wednesday, September 4th. Finally, Piper Sandler decreased their target price on shares of Zscaler from $255.00 to $215.00 and set an “overweight” rating for the company in a research report on Wednesday, September 4th. Ten research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Zscaler currently has a consensus rating of “Moderate Buy” and an average price target of $216.73.

View Our Latest Analysis on Zscaler

Zscaler Trading Up 0.4 %

NASDAQ:ZS opened at $209.85 on Thursday. The stock has a 50 day moving average of $180.42 and a two-hundred day moving average of $182.18. Zscaler, Inc. has a 12 month low of $153.45 and a 12 month high of $259.61.

Zscaler (NASDAQ:ZS – Get Free Report) last announced its quarterly earnings data on Tuesday, September 3rd. The company reported ($0.05) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.09. The company had revenue of $592.90 million for the quarter, compared to analyst estimates of $567.46 million. Zscaler had a negative return on equity of 3.46% and a negative net margin of 2.66%. The firm’s revenue for the quarter was up 30.3% on a year-over-year basis. During the same quarter last year, the firm posted ($0.17) EPS. On average, sell-side analysts expect that Zscaler, Inc. will post -0.95 earnings per share for the current fiscal year.

About Zscaler

(Free Report)

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.

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