Kovack Advisors Inc. Has $362,000 Stake in Zscaler, Inc. (NASDAQ:ZS)

Kovack Advisors Inc. grew its holdings in shares of Zscaler, Inc. (NASDAQ:ZS) by 5.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,117 shares of the company’s stock after buying an additional 103 shares during the quarter. Kovack Advisors Inc.’s holdings in Zscaler were worth $362,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Saturna Capital Corp boosted its stake in shares of Zscaler by 9.9% during the 3rd quarter. Saturna Capital Corp now owns 1,398 shares of the company’s stock worth $239,000 after acquiring an additional 126 shares during the period. RPG Investment Advisory LLC lifted its holdings in Zscaler by 8.2% during the 3rd quarter. RPG Investment Advisory LLC now owns 45,763 shares of the company’s stock valued at $7,823,000 after purchasing an additional 3,457 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its position in Zscaler by 2.0% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 218,116 shares of the company’s stock worth $37,285,000 after purchasing an additional 4,330 shares during the period. Versor Investments LP increased its holdings in shares of Zscaler by 12.9% in the third quarter. Versor Investments LP now owns 1,282 shares of the company’s stock valued at $219,000 after purchasing an additional 146 shares during the last quarter. Finally, United Capital Management of KS Inc. raised its position in shares of Zscaler by 2.5% in the third quarter. United Capital Management of KS Inc. now owns 29,756 shares of the company’s stock valued at $5,086,000 after purchasing an additional 723 shares during the period. 46.45% of the stock is currently owned by institutional investors and hedge funds.

Zscaler Stock Down 3.4 %

Shares of ZS opened at $201.47 on Friday. The firm’s fifty day simple moving average is $182.23 and its two-hundred day simple moving average is $182.52. Zscaler, Inc. has a 12 month low of $153.45 and a 12 month high of $259.61.

Zscaler (NASDAQ:ZS) last posted its quarterly earnings results on Tuesday, September 3rd. The company reported ($0.05) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.09. The firm had revenue of $592.90 million for the quarter, compared to analysts’ expectations of $567.46 million. Zscaler had a negative return on equity of 3.46% and a negative net margin of 2.66%. The company’s revenue for the quarter was up 30.3% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.17) EPS. On average, equities research analysts predict that Zscaler, Inc. will post -0.95 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Jagtar Singh Chaudhry sold 2,852 shares of Zscaler stock in a transaction dated Tuesday, September 17th. The shares were 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Remo Canessa sold 8,455 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $171.28, for a total transaction of $1,448,172.40. Following the completion of the transaction, the chief financial officer now directly owns 231,793 shares in the company, valued at approximately $39,701,505.04. The trade was a 3.52 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 30,502 shares of company stock worth $5,256,651. Corporate insiders own 19.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Susquehanna reiterated a “positive” rating and set a $210.00 target price on shares of Zscaler in a research note on Thursday, September 5th. Stifel Nicolaus lifted their target price on Zscaler from $220.00 to $235.00 and gave the stock a “buy” rating in a report on Thursday. Bank of America downgraded shares of Zscaler from a “buy” rating to a “neutral” rating and decreased their price target for the company from $265.00 to $195.00 in a research note on Wednesday, September 4th. BNP Paribas initiated coverage on shares of Zscaler in a research report on Tuesday, October 8th. They set a “neutral” rating and a $180.00 price target on the stock. Finally, Oppenheimer cut their price objective on shares of Zscaler from $260.00 to $230.00 and set an “outperform” rating for the company in a report on Wednesday, September 4th. Ten research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $217.18.

Zscaler Profile

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.