Sequoia Financial Advisors LLC Sells 44,439 Shares of Zscaler, Inc. $ZS

Sequoia Financial Advisors LLC cut its position in shares of Zscaler, Inc. (NASDAQ:ZS) by 72.5% in the second quarter, Holdings Channel.com reports. The firm owned 16,876 shares of the company’s stock after selling 44,439 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Zscaler were worth $2,382,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in ZS. California State Teachers Retirement System boosted its position in shares of Zscaler by 13,837.9% during the second quarter. California State Teachers Retirement System now owns 19,388,787 shares of the company’s stock valued at $2,736,727,000 after buying an additional 19,249,679 shares during the period. BlackRock Inc. purchased a new position in Zscaler during the 2nd quarter valued at $1,396,028,000. First Trust Advisors LP boosted its holdings in Zscaler by 36.2% during the 1st quarter. First Trust Advisors LP now owns 3,518,678 shares of the company’s stock valued at $493,635,000 after acquiring an additional 935,781 shares during the period. Price T Rowe Associates Inc. MD grew its position in Zscaler by 43.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,572,358 shares of the company’s stock valued at $578,576,000 after acquiring an additional 777,414 shares during the last quarter. Finally, AQR Capital Management LLC lifted its position in shares of Zscaler by 61.8% during the third quarter. AQR Capital Management LLC now owns 1,941,571 shares of the company’s stock worth $576,083,000 after purchasing an additional 741,756 shares during the last quarter. 46.45% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently commented on ZS shares. Scotiabank reaffirmed an “outperform” rating on shares of Zscaler in a research report on Friday, September 4th. Piper Sandler raised their price objective on Zscaler from $160.00 to $175.00 and gave the stock a “neutral” rating in a report on Friday, September 4th. Stifel Nicolaus lifted their target price on Zscaler from $175.00 to $200.00 and gave the company a “buy” rating in a research report on Wednesday, August 19th. Cantor Fitzgerald reissued an “overweight” rating and set a $225.00 price target on shares of Zscaler in a research report on Friday, September 4th. Finally, The Goldman Sachs Group reiterated a “neutral” rating and set a $179.00 target price on shares of Zscaler in a report on Wednesday, May 27th. Thirty-four analysts have rated the stock with a Buy rating, six have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $216.53.

Zscaler Stock Performance

Shares of NASDAQ ZS opened at $164.54 on Monday. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.70 and a quick ratio of 1.70. The stock has a market capitalization of $26.83 billion, a P/E ratio of -421.90, a price-to-earnings-growth ratio of 20.42 and a beta of 0.95. Zscaler, Inc. has a 1-year low of $114.63 and a 1-year high of $336.99. The business has a fifty day moving average price of $163.38 and a 200 day moving average price of $150.40.

Zscaler (NASDAQ:ZS) last posted its earnings results on Thursday, September 3rd. The company reported $1.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.09 by $0.10. The company had revenue of $898.19 million for the quarter, compared to analyst estimates of $876.96 million. Zscaler had a positive return on equity of 1.23% and a negative net margin of 1.88%.The firm’s quarterly revenue was up 24.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.89 earnings per share. Zscaler has set its FY 2027 guidance at 4.860-4.900 EPS and its Q1 2027 guidance at 1.150-1.160 EPS. Equities research analysts expect that Zscaler, Inc. will post 0.59 EPS for the current fiscal year.

Insider Activity

In related news, CEO Jagtar Chaudhry sold 2,878 shares of the business’s stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $126.43, for a total transaction of $363,865.54. Following the completion of the transaction, the chief executive officer owned 343,038 shares in the company, valued at $43,370,294.34. The trade was a 0.83% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Kevin Rubin sold 3,000 shares of the stock in a transaction that occurred on Thursday, June 25th. The shares were sold at an average price of $124.22, for a total transaction of $372,660.00. Following the sale, the chief financial officer directly owned 41,901 shares of the company’s stock, valued at $5,204,942.22. The trade was a 6.68% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 16,772 shares of company stock worth $2,139,799 in the last quarter. 17.20% of the stock is currently owned by corporate insiders.

About Zscaler

Zscaler, Inc is a cloud-native cybersecurity company that provides security services designed to help organizations connect users, devices, applications and workloads securely over the internet. Its platform is built around a zero-trust security model, which verifies access based on identity, context and policy rather than relying primarily on a traditional corporate network perimeter.

The company’s offerings include Zscaler Internet Access, which secures access to internet and software-as-a-service applications, and Zscaler Private Access, which provides secure, policy-based access to private applications without requiring conventional virtual private networks.