Zscaler, Inc. (NASDAQ:ZS) Shares Sold by BI Asset Management Fondsmaeglerselskab A S

BI Asset Management Fondsmaeglerselskab A S decreased its stake in shares of Zscaler, Inc. (NASDAQ:ZS - Free Report) by 82.2% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 5,448 shares of the company's stock after selling 25,207 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S's holdings in Zscaler were worth $983,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Global X Japan Co. Ltd. boosted its position in shares of 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 purchasing an additional 79 shares during the period. Summit Securities Group LLC purchased a new position in shares of Zscaler during the fourth quarter worth $27,000. Stonebridge Financial Group LLC purchased a new stake in shares of Zscaler in the 4th quarter valued at $29,000. Versant Capital Management Inc lifted its stake in 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 acquiring an additional 104 shares in the last quarter. Finally, Modus Advisors LLC purchased a new position in Zscaler during the 4th quarter valued at about $36,000. Hedge funds and other institutional investors own 46.45% of the company's stock.

Zscaler Price Performance

NASDAQ ZS traded up $5.44 during mid-day trading on Friday, reaching $215.58. The stock had a trading volume of 2,884,983 shares, compared to its average volume of 1,992,800. The stock has a market cap of $33.36 billion, a PE ratio of -862.32 and a beta of 1.12. The company has a fifty day moving average price of $199.30 and a 200 day moving average price of $197.37. Zscaler, Inc. has a 1 year low of $153.45 and a 1 year high of $217.84.

Wall Street Analyst Weigh In

Several brokerages have commented on ZS. Morgan Stanley decreased their price target on shares of Zscaler from $205.00 to $200.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 16th. 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. Cantor Fitzgerald raised Zscaler from a "neutral" rating to an "overweight" rating and increased their price target for the company from $220.00 to $250.00 in a research report on Thursday, April 3rd. Bank of America upgraded shares of Zscaler from a "neutral" rating to a "buy" rating and upped their target price for the stock from $215.00 to $240.00 in a research note on Friday, March 7th. Finally, Robert W. Baird lifted their price target on shares of Zscaler from $240.00 to $250.00 and gave the stock an "outperform" rating in a research note on Thursday, March 6th. Nine analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $234.16.

Insider Buying and Selling at Zscaler

In related news, CEO Jagtar Singh Chaudhry sold 2,155 shares of the firm's stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $199.15, for a total value of $429,168.25. Following the transaction, the chief executive officer now owns 356,414 shares of the company's stock, valued at $70,979,848.10. This trade represents a 0.60 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 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 stock was sold at an average price of $206.00, for a total transaction of $2,060,000.00. Following the completion of the transaction, the director now directly owns 27,216 shares of the company's stock, valued at $5,606,496. This trade represents a 26.87 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 209,234 shares of company stock valued at $42,030,790 in the last three months. 18.10% of the stock is currently owned by corporate insiders.

Zscaler Company 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.