PDT Partners LLC Reduces Stock Position in Zscaler, Inc. (NASDAQ:ZS)

PDT Partners LLC reduced its holdings in shares of Zscaler, Inc. (NASDAQ:ZS) by 51.9% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 8,703 shares of the company’s stock after selling 9,400 shares during the period. PDT Partners LLC’s holdings in Zscaler were worth $1,488,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in ZS. Champlain Investment Partners LLC raised its stake in Zscaler by 28.2% during the third quarter. Champlain Investment Partners LLC now owns 1,289,350 shares of the company’s stock valued at $220,401,000 after buying an additional 283,540 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Zscaler by 5.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 496,047 shares of the company’s stock valued at $95,335,000 after acquiring an additional 25,181 shares during the last quarter. Westfield Capital Management Co. LP lifted its stake in Zscaler by 33.8% during the third quarter. Westfield Capital Management Co. LP now owns 399,516 shares of the company’s stock worth $68,293,000 after purchasing an additional 100,814 shares during the last quarter. Federated Hermes Inc. boosted its holdings in Zscaler by 18.3% in the second quarter. Federated Hermes Inc. now owns 394,698 shares of the company’s stock worth $75,857,000 after purchasing an additional 61,037 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in Zscaler by 4.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 355,070 shares of the company’s stock valued at $60,696,000 after purchasing an additional 16,634 shares during the last quarter. Institutional investors own 46.45% of the company’s stock.

Zscaler Price Performance

Shares of ZS opened at $206.59 on Monday. The business’s 50-day moving average price is $190.12 and its 200 day moving average price is $184.78. Zscaler, Inc. has a 1-year low of $153.45 and a 1-year high of $259.61.

Zscaler (NASDAQ:ZS) last released its quarterly earnings results on Tuesday, September 3rd. The company reported ($0.05) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 business had revenue of $592.90 million for the quarter, compared to analyst estimates of $567.46 million. During the same quarter in the previous year, the business earned ($0.17) earnings per share. The firm’s revenue was up 30.3% compared to the same quarter last year. On average, equities research analysts anticipate that Zscaler, Inc. will post -0.95 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on ZS shares. Piper Sandler decreased their price target on shares of Zscaler from $255.00 to $215.00 and set an “overweight” rating for the company in a report on Wednesday, September 4th. UBS Group lowered their target price on Zscaler from $270.00 to $250.00 and set a “buy” rating for the company in a report on Wednesday, September 4th. JPMorgan Chase & Co. raised their price target on Zscaler from $220.00 to $240.00 and gave the stock an “overweight” rating in a report on Friday. Morgan Stanley upped their price objective on Zscaler from $202.00 to $215.00 and gave the stock an “equal weight” rating in a research note on Monday, August 26th. Finally, Loop Capital cut their target price on Zscaler from $180.00 to $165.00 and set a “hold” rating on the stock in a research note on Wednesday, September 4th. Ten equities research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $221.13.

Insider Transactions at Zscaler

In other Zscaler news, insider Michael J. Rich sold 4,813 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 $824,370.64. Following the transaction, the insider now owns 103,259 shares in the company, valued at approximately $17,686,201.52. This represents a 4.45 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jagtar Singh Chaudhry sold 2,852 shares of the company’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $171.28, for a total transaction of $488,490.56. Following the completion of the transaction, the chief executive officer now directly owns 361,432 shares in the company, valued at $61,906,072.96. This trade represents a 0.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 30,502 shares of company stock valued at $5,256,651 over the last quarter. Company insiders own 18.10% 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.