Zscaler, Inc. (NASDAQ:ZS) Shares Sold by Aviva PLC

Aviva PLC reduced its position in Zscaler, Inc. (NASDAQ:ZS - Free Report) by 33.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 55,498 shares of the company's stock after selling 27,297 shares during the period. Aviva PLC's holdings in Zscaler were worth $10,012,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ZS. Global X Japan Co. Ltd. boosted its holdings in shares of Zscaler by 127.4% in the 4th quarter. Global X Japan Co. Ltd. now owns 141 shares of the company's stock worth $25,000 after purchasing an additional 79 shares during the period. Summit Securities Group LLC bought a new position in Zscaler during the fourth quarter valued at $27,000. Stonebridge Financial Group LLC purchased a new stake in shares of Zscaler in the fourth quarter valued at $29,000. Prestige Wealth Management Group LLC bought a new stake in shares of Zscaler in the 3rd quarter worth about $31,000. Finally, Versant Capital Management Inc boosted its stake in shares of Zscaler by 136.8% during 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 during the period. 46.45% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have issued reports on ZS shares. BMO Capital Markets boosted their target price on Zscaler from $222.00 to $233.00 and gave the company an "outperform" rating in a research report on Thursday, March 6th. Scotiabank restated a "sector outperform" rating and set a $242.00 price objective (up previously from $225.00) on shares of Zscaler in a report on Wednesday, March 5th. Mizuho increased their target price on Zscaler from $210.00 to $225.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 12th. Robert W. Baird boosted their target price on shares of Zscaler from $240.00 to $250.00 and gave the company an "outperform" rating in a research note on Thursday, March 6th. Finally, Bank of America raised 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 investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $234.94.

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Zscaler Stock Up 1.4 %

Shares of NASDAQ:ZS traded up $2.72 during trading on Friday, hitting $198.08. The stock had a trading volume of 2,313,728 shares, compared to its average volume of 1,976,077. Zscaler, Inc. has a 12-month low of $153.45 and a 12-month high of $217.84. The stock has a market capitalization of $30.65 billion, a price-to-earnings ratio of -792.32 and a beta of 1.12. The stock has a 50-day simple moving average of $200.88 and a two-hundred day simple moving average of $195.31.

Insiders Place Their Bets

In other Zscaler news, insider Robert Schlossman sold 2,878 shares of the firm's stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $199.15, for a total value of $573,153.70. Following the sale, the insider now directly owns 107,587 shares of the company's stock, valued at approximately $21,425,951.05. This trade represents a 2.61 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Andrew William Fraser Brown sold 10,000 shares of the business's stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $206.00, for a total value of $2,060,000.00. Following the completion of the sale, the director now owns 27,216 shares of the company's stock, valued at $5,606,496. This trade represents a 26.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 209,234 shares of company stock valued at $42,030,790. 18.10% of the stock is owned by insiders.

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.