Zscaler, Inc. (NASDAQ:ZS) Shares Sold by CIBC Private Wealth Group LLC

CIBC Private Wealth Group LLC cut its holdings in shares of Zscaler, Inc. (NASDAQ:ZS - Free Report) by 2.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 218,402 shares of the company's stock after selling 6,439 shares during the period. CIBC Private Wealth Group LLC owned approximately 0.14% of Zscaler worth $40,902,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of ZS. Corebridge Financial Inc. increased its position in Zscaler by 0.5% in the 4th quarter. Corebridge Financial Inc. now owns 11,695 shares of the company's stock worth $2,110,000 after purchasing an additional 54 shares during the last quarter. Erste Asset Management GmbH boosted its position in shares of Zscaler by 0.6% in the fourth quarter. Erste Asset Management GmbH now owns 9,780 shares of the company's stock valued at $1,805,000 after acquiring an additional 56 shares during the period. KRS Capital Management LLC increased its holdings in shares of Zscaler by 1.9% during the 4th quarter. KRS Capital Management LLC now owns 3,261 shares of the company's stock worth $588,000 after purchasing an additional 60 shares during the period. Ironwood Investment Management LLC grew its holdings in shares of Zscaler by 1.0% during the 4th quarter. Ironwood Investment Management LLC now owns 6,249 shares of the company's stock worth $1,127,000 after purchasing an additional 64 shares in the last quarter. Finally, Smartleaf Asset Management LLC increased its holdings in Zscaler by 16.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 482 shares of the company's stock valued at $88,000 after buying an additional 69 shares during the period. Institutional investors and hedge funds own 46.45% of the company's stock.

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Zscaler Price Performance

NASDAQ:ZS traded up $5.97 during trading hours on Wednesday, reaching $207.04. The company had a trading volume of 1,705,281 shares, compared to its average volume of 1,904,991. The business's 50 day moving average price is $202.49 and its 200-day moving average price is $194.34. Zscaler, Inc. has a 1-year low of $153.45 and a 1-year high of $217.84. The firm has a market cap of $32.03 billion, a PE ratio of -828.16 and a beta of 1.12.

Wall Street Analysts Forecast Growth

ZS has been the subject of several recent analyst reports. Piper Sandler raised their price objective on shares of Zscaler from $215.00 to $235.00 and gave the stock an "overweight" rating in a report on Tuesday, December 3rd. Jefferies Financial Group cut their price target on Zscaler from $245.00 to $240.00 and set a "buy" rating on the stock in a report on Monday. KeyCorp lifted their target price on Zscaler from $245.00 to $250.00 and gave the company an "overweight" rating in a research report on Tuesday, December 3rd. Needham & Company LLC restated a "buy" rating and set a $240.00 target price on shares of Zscaler in a report on Wednesday, March 5th. Finally, BTIG Research set a $252.00 target price on Zscaler and gave the company a "buy" rating in a research report on Thursday, March 6th. Nine equities research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Zscaler presently has a consensus rating of "Moderate Buy" and an average price target of $232.35.

Insider Activity

In other news, major shareholder Ajay Mangal sold 190,480 shares of the business's stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $200.69, for a total value of $38,227,431.20. Following the completion of the sale, the insider now directly owns 2,580,210 shares of the company's stock, valued at approximately $517,822,344.90. The trade was a 6.87 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jagtar Singh Chaudhry sold 2,155 shares of the 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 $429,168.25. Following the sale, the chief executive officer now directly owns 356,414 shares of the company's stock, valued at $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. In the last quarter, insiders have sold 199,234 shares of company stock valued at $39,970,790. 18.10% of the stock is currently owned by insiders.

About Zscaler

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.