GraniteShares Advisors LLC Cuts Holdings in Zscaler, Inc. (NASDAQ:ZS)

GraniteShares Advisors LLC lessened its stake in Zscaler, Inc. (NASDAQ:ZS) by 23.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,574 shares of the company’s stock after selling 795 shares during the period. GraniteShares Advisors LLC’s holdings in Zscaler were worth $570,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of ZS. B. Riley Wealth Advisors Inc. boosted its stake in shares of Zscaler by 1.7% in the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 3,761 shares of the company’s stock valued at $585,000 after purchasing an additional 63 shares in the last quarter. International Assets Investment Management LLC boosted its stake in shares of Zscaler by 2.7% in the 1st quarter. International Assets Investment Management LLC now owns 2,558 shares of the company’s stock valued at $617,000 after purchasing an additional 67 shares in the last quarter. Xponance Inc. boosted its stake in shares of Zscaler by 0.6% in the 3rd quarter. Xponance Inc. now owns 12,411 shares of the company’s stock valued at $1,931,000 after purchasing an additional 68 shares in the last quarter. CWM LLC boosted its stake in shares of Zscaler by 13.8% in the 3rd quarter. CWM LLC now owns 637 shares of the company’s stock valued at $99,000 after purchasing an additional 77 shares in the last quarter. Finally, M&T Bank Corp boosted its stake in shares of Zscaler by 2.6% in the 3rd quarter. M&T Bank Corp now owns 3,079 shares of the company’s stock valued at $479,000 after purchasing an additional 79 shares in the last quarter. Hedge funds and other institutional investors own 46.45% of the company’s stock.

Zscaler Stock Performance

Shares of ZS stock opened at $175.14 on Wednesday. Zscaler, Inc. has a one year low of $84.93 and a one year high of $259.61. The company’s 50-day moving average is $210.76 and its 200 day moving average is $203.02. The company has a market capitalization of $26.25 billion, a price-to-earnings ratio of -183.49 and a beta of 0.80. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.98 and a current ratio of 1.98.

Zscaler (NASDAQ:ZS) last announced its quarterly earnings results on Thursday, February 29th. The company reported ($0.16) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.08. The firm had revenue of $525.00 million for the quarter, compared to the consensus estimate of $507.56 million. Zscaler had a negative net margin of 7.32% and a negative return on equity of 14.60%. Sell-side analysts expect that Zscaler, Inc. will post -0.81 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on ZS shares. Truist Financial reissued a “buy” rating and set a $260.00 price target on shares of Zscaler in a research report on Monday, April 1st. Macquarie reissued an “outperform” rating and set a $245.00 price target on shares of Zscaler in a research report on Tuesday, March 19th. Morgan Stanley increased their price target on shares of Zscaler from $195.00 to $214.00 and gave the company an “equal weight” rating in a research report on Monday, February 26th. Barclays dropped their price target on shares of Zscaler from $259.00 to $240.00 and set an “overweight” rating for the company in a research report on Friday, March 1st. Finally, JMP Securities reissued a “market outperform” rating and set a $270.00 price target on shares of Zscaler in a research report on Friday, March 1st. Six research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $230.55.

Insider Activity

In other news, CEO Jagtar Singh Chaudhry sold 2,115 shares of the firm’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $193.15, for a total transaction of $408,512.25. Following the sale, the chief executive officer now owns 367,152 shares of the company’s stock, valued at approximately $70,915,408.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CEO Jagtar Singh Chaudhry sold 2,115 shares of the firm’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $193.15, for a total value of $408,512.25. Following the transaction, the chief executive officer now owns 367,152 shares of the company’s stock, valued at $70,915,408.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Syam Nair sold 2,893 shares of the firm’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $193.15, for a total transaction of $558,782.95. Following the completion of the transaction, the insider now directly owns 137,294 shares in the company, valued at approximately $26,518,336.10. The disclosure for this sale can be found here. Insiders have sold a total of 26,715 shares of company stock valued at $5,865,882 in the last 90 days. 19.20% of the stock is currently owned by 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.