Zscaler, Inc. (NASDAQ:ZS) Shares Sold by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC decreased its holdings in shares of Zscaler, Inc. (NASDAQ:ZS - Free Report) by 3.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 58,450 shares of the company's stock after selling 1,860 shares during the period. Commonwealth Equity Services LLC's holdings in Zscaler were worth $10,545,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in ZS. Global X Japan Co. Ltd. raised its stake in Zscaler by 127.4% in the 4th quarter. Global X Japan Co. Ltd. now owns 141 shares of the company's stock valued at $25,000 after purchasing an additional 79 shares during the last quarter. Stonebridge Financial Group LLC acquired a new position in Zscaler in the 4th quarter valued at $29,000. Prestige Wealth Management Group LLC acquired a new position in Zscaler in the 3rd quarter valued at $31,000. True Wealth Design LLC raised its stake in Zscaler by 18,500.0% in the 3rd quarter. True Wealth Design LLC now owns 186 shares of the company's stock valued at $32,000 after purchasing an additional 185 shares during the last quarter. Finally, Versant Capital Management Inc raised its stake in Zscaler by 136.8% in the 4th quarter. Versant Capital Management Inc now owns 180 shares of the company's stock valued at $32,000 after purchasing an additional 104 shares during the last quarter. Hedge funds and other institutional investors own 46.45% of the company's stock.

Zscaler Stock Performance

Shares of ZS traded up $1.65 during midday trading on Friday, hitting $205.20. The company had a trading volume of 1,826,357 shares, compared to its average volume of 1,862,956. The company's 50-day simple moving average is $199.74 and its 200-day simple moving average is $191.83. The firm has a market capitalization of $31.75 billion, a P/E ratio of -820.80 and a beta of 0.88. Zscaler, Inc. has a 1 year low of $153.45 and a 1 year high of $217.84.

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Insider Activity

In other news, CEO Jagtar Singh Chaudhry sold 2,155 shares of the firm's stock in a transaction dated Tuesday, March 18th. The stock was 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. This trade represents a 0.60 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Ajay Mangal sold 190,480 shares of the firm'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 sale, the insider now directly 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 disclosure for this sale can be found here. In the last quarter, insiders sold 199,234 shares of company stock worth $39,970,790. 18.10% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

ZS has been the subject of several recent research reports. Royal Bank of Canada increased their price objective on Zscaler from $230.00 to $250.00 and gave the company an "outperform" rating in a research note 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. KeyCorp raised their target price on Zscaler from $245.00 to $250.00 and gave the stock an "overweight" rating in a research note on Tuesday, December 3rd. Loop Capital cut their target price on Zscaler from $200.00 to $195.00 and set a "hold" rating for the company in a research note on Tuesday, December 3rd. Finally, Jefferies Financial Group raised their target price on Zscaler from $225.00 to $245.00 and gave the stock a "buy" rating in a research note on Tuesday, November 26th. Nine analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $232.68.

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.