Chicago Partners Investment Group LLC Sells 540 Shares of Zscaler, Inc. (NASDAQ:ZS)

Chicago Partners Investment Group LLC lessened its holdings in shares of Zscaler, Inc. (NASDAQ:ZS) by 34.3% during the first quarter, HoldingsChannel.com reports. The firm owned 1,034 shares of the company’s stock after selling 540 shares during the quarter. Chicago Partners Investment Group LLC’s holdings in Zscaler were worth $205,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently made changes to their positions in ZS. Envestnet Asset Management Inc. grew its position in shares of Zscaler by 96.0% during the 4th quarter. Envestnet Asset Management Inc. now owns 25,579 shares of the company’s stock worth $4,615,000 after purchasing an additional 12,531 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of Zscaler during the 4th quarter worth approximately $28,072,000. Rockefeller Capital Management L.P. acquired a new position in shares of Zscaler during the 4th quarter worth approximately $3,346,000. Summit Investment Advisors Inc. grew its position in shares of Zscaler by 7.3% during the 4th quarter. Summit Investment Advisors Inc. now owns 4,881 shares of the company’s stock worth $881,000 after purchasing an additional 333 shares in the last quarter. Finally, CreativeOne Wealth LLC acquired a new position in shares of Zscaler during the 4th quarter worth approximately $431,000. Institutional investors and hedge funds own 46.45% of the company’s stock.

Zscaler Stock Up 1.6%

Shares of NASDAQ ZS opened at $275.43 on Wednesday. Zscaler, Inc. has a twelve month low of $153.45 and a twelve month high of $318.46. The firm has a fifty day simple moving average of $296.56 and a 200 day simple moving average of $242.81. The company has a market capitalization of $42.88 billion, a PE ratio of -1,059.35, a P/E/G ratio of 243.13 and a beta of 1.06.

Zscaler (NASDAQ:ZS) last announced its earnings results on Thursday, May 29th. The company reported $0.84 earnings per share for the quarter, topping analysts’ consensus estimates of $0.76 by $0.08. Zscaler had a negative net margin of 1.52% and a negative return on equity of 0.59%. The business had revenue of $678.03 million during the quarter, compared to the consensus estimate of $667.13 million. During the same quarter last year, the firm earned $0.88 earnings per share. Zscaler’s quarterly revenue was up 22.6% on a year-over-year basis. As a group, equities analysts expect that Zscaler, Inc. will post -0.1 earnings per share for the current fiscal year.

Analyst Ratings Changes

ZS has been the topic of several analyst reports. Wells Fargo & Company upgraded shares of Zscaler from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $260.00 to $385.00 in a research report on Friday, June 13th. Roth Capital reiterated a “neutral” rating on shares of Zscaler in a research report on Wednesday, May 28th. KeyCorp increased their price target on shares of Zscaler from $290.00 to $310.00 and gave the stock an “overweight” rating in a research report on Friday, May 30th. Royal Bank Of Canada increased their price target on shares of Zscaler from $288.00 to $304.00 and gave the stock an “outperform” rating in a research report on Friday, May 30th. Finally, Mizuho increased their price target on shares of Zscaler from $275.00 to $290.00 and gave the stock a “neutral” rating in a research report on Wednesday, June 4th. Seven equities research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $296.82.

Insider Buying and Selling at Zscaler

In related news, insider Adam Geller sold 3,662 shares of Zscaler stock in a transaction on Wednesday, June 18th. The shares were sold at an average price of $306.72, for a total transaction of $1,123,208.64. Following the completion of the transaction, the insider owned 46,813 shares of the company’s stock, valued at $14,358,483.36. This trade represents a 7.26% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Ajay Mangal sold 120,000 shares of Zscaler stock in a transaction on Monday, June 9th. The stock was sold at an average price of $300.89, for a total transaction of $36,106,800.00. Following the transaction, the insider directly owned 2,550,210 shares of the company’s stock, valued at $767,332,686.90. This represents a 4.49% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 200,793 shares of company stock valued at $58,752,794 over the last three months. 18.10% of the stock is currently owned by corporate insiders.

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.