Congress Wealth Management LLC DE Takes $221,000 Position in Zscaler, Inc. (NASDAQ:ZS)

Congress Wealth Management LLC DE acquired a new position in shares of Zscaler, Inc. (NASDAQ:ZS - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,227 shares of the company's stock, valued at approximately $221,000.

A number of other institutional investors and hedge funds have also made changes to their positions in ZS. Global X Japan Co. Ltd. increased its stake in Zscaler by 127.4% during 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 in the last quarter. Stonebridge Financial Group LLC purchased a new position in Zscaler in the 4th quarter worth approximately $29,000. Prestige Wealth Management Group LLC bought a new position in Zscaler in the 3rd quarter valued at approximately $31,000. True Wealth Design LLC boosted its stake in Zscaler by 18,500.0% during 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 shares of Zscaler by 136.8% in the fourth 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 last quarter. Institutional investors own 46.45% of the company's stock.

Analyst Upgrades and Downgrades

ZS has been the topic of several recent analyst reports. Sanford C. Bernstein reaffirmed an "outperform" rating and set a $244.00 price objective on shares of Zscaler in a research report on Thursday, March 6th. Citigroup reiterated a "buy" rating and issued a $240.00 price target (up from $235.00) on shares of Zscaler in a research note on Wednesday, March 5th. JPMorgan Chase & Co. increased their price objective on shares of Zscaler from $240.00 to $250.00 and gave the company an "overweight" rating in a research report on Thursday, March 6th. Royal Bank of Canada lifted their target price on shares of Zscaler from $230.00 to $250.00 and gave the stock an "outperform" rating in a research report on Thursday, March 6th. Finally, BTIG Research set a $252.00 target price on Zscaler and gave the company a "buy" rating in a report on Thursday, March 6th. Eight equities research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $234.94.

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Zscaler Price Performance

Shares of NASDAQ ZS traded down $11.09 during midday trading on Thursday, reaching $195.95. 2,493,620 shares of the stock traded hands, compared to its average volume of 1,908,487. The company's 50 day moving average is $202.77 and its 200 day moving average is $194.42. Zscaler, Inc. has a one year low of $153.45 and a one year high of $217.84. The stock has a market capitalization of $30.32 billion, a PE ratio of -783.80 and a beta of 1.12.

Insider Activity at Zscaler

In related news, CEO Jagtar Singh Chaudhry sold 2,155 shares of the stock in a transaction on 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 in the company, valued at approximately $70,979,848.10. This represents a 0.60 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Robert Schlossman sold 2,878 shares of Zscaler stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $199.15, for a total transaction of $573,153.70. Following the transaction, the insider now directly owns 107,587 shares of the company's stock, valued at $21,425,951.05. The trade was a 2.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 199,234 shares of company stock valued at $39,970,790 over the last 90 days. 18.10% of the stock is 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.