Allstate Corp Purchases Shares of 2,658 Zscaler, Inc. (NASDAQ:ZS)

Allstate Corp bought a new position in Zscaler, Inc. (NASDAQ:ZS - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 2,658 shares of the company's stock, valued at approximately $480,000.

Other large investors have also added to or reduced their stakes in the company. Global X Japan Co. Ltd. boosted its holdings in Zscaler by 127.4% during the 4th quarter. Global X Japan Co. Ltd. now owns 141 shares of the company's stock worth $25,000 after acquiring an additional 79 shares during the last quarter. Stonebridge Financial Group LLC purchased a new position in Zscaler during the fourth quarter worth about $29,000. Prestige Wealth Management Group LLC purchased a new position in Zscaler during the third quarter worth about $31,000. Versant Capital Management Inc grew its position in Zscaler by 136.8% in the 4th quarter. Versant Capital Management Inc now owns 180 shares of the company's stock worth $32,000 after purchasing an additional 104 shares in the last quarter. Finally, Modus Advisors LLC purchased a new stake in Zscaler in the 4th quarter valued at about $36,000. Institutional investors own 46.45% of the company's stock.

Zscaler Stock Down 7.2 %

Shares of Zscaler stock traded down $14.83 during trading on Thursday, hitting $192.21. 3,897,122 shares of the stock traded hands, compared to its average volume of 1,915,071. The stock has a market cap of $29.74 billion, a price-to-earnings ratio of -768.84 and a beta of 1.12. Zscaler, Inc. has a 52 week low of $153.45 and a 52 week high of $217.84. The firm's fifty day moving average is $202.76 and its 200-day moving average is $194.41.

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Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Rosenblatt Securities raised Zscaler from a "neutral" rating to a "buy" rating and upped their target price for the company from $190.00 to $235.00 in a report on Thursday, March 6th. BTIG Research set a $252.00 target price on Zscaler and gave the stock a "buy" rating in a research note on Thursday, March 6th. Robert W. Baird raised their price objective on shares of Zscaler from $240.00 to $250.00 and gave the stock an "outperform" rating in a report on Thursday, March 6th. Scotiabank reaffirmed a "sector outperform" rating and issued a $242.00 price objective (up previously from $225.00) on shares of Zscaler in a research report on Wednesday, March 5th. Finally, Bank of America upgraded shares of Zscaler from a "neutral" rating to a "buy" rating and raised their price target for the stock from $215.00 to $240.00 in a research note on Friday, March 7th. Eight research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $234.94.

Insider Buying and Selling at Zscaler

In related news, major shareholder Ajay Mangal sold 190,480 shares of Zscaler stock in a transaction on Monday, March 17th. The shares were sold at an average price of $200.69, for a total value of $38,227,431.20. Following the transaction, the insider now owns 2,580,210 shares in the company, valued at $517,822,344.90. This trade represents a 6.87 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jagtar Singh Chaudhry sold 2,155 shares of the company's stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $199.15, for a total transaction of $429,168.25. Following the sale, the chief executive officer now owns 356,414 shares of the company's stock, valued at approximately $70,979,848.10. The trade was a 0.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 199,234 shares of company stock worth $39,970,790 over the last ninety days. Insiders own 18.10% of the company's stock.

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.