CreativeOne Wealth LLC Takes $431,000 Position in Zscaler, Inc. (NASDAQ:ZS)

CreativeOne Wealth LLC purchased a new position in shares of Zscaler, Inc. (NASDAQ:ZS - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 2,390 shares of the company's stock, valued at approximately $431,000.

Several other institutional investors also recently modified their holdings of ZS. Zweig DiMenna Associates LLC raised its position in shares of Zscaler by 29.8% in the 4th quarter. Zweig DiMenna Associates LLC now owns 77,941 shares of the company's stock worth $14,061,000 after acquiring an additional 17,900 shares in the last quarter. Baader Bank Aktiengesellschaft increased its holdings in Zscaler by 30.3% in the fourth quarter. Baader Bank Aktiengesellschaft now owns 8,400 shares of the company's stock worth $1,515,000 after purchasing an additional 1,952 shares in the last quarter. Everence Capital Management Inc. acquired a new position in Zscaler in the fourth quarter valued at approximately $565,000. SYM FINANCIAL Corp bought a new position in shares of Zscaler during the 4th quarter worth approximately $303,000. Finally, Merit Financial Group LLC acquired a new stake in shares of Zscaler during the 4th quarter worth approximately $787,000. Institutional investors own 46.45% of the company's stock.

Zscaler Stock Up 4.8 %

NASDAQ:ZS traded up $9.64 during midday trading on Thursday, hitting $210.23. The company had a trading volume of 2,310,275 shares, compared to its average volume of 1,980,527. The company has a market capitalization of $32.53 billion, a PE ratio of -840.92 and a beta of 1.12. Zscaler, Inc. has a 52-week low of $153.45 and a 52-week high of $217.84. The stock's fifty day moving average price is $199.38 and its 200-day moving average price is $196.76.

Insider Transactions at Zscaler

In other news, insider Robert Schlossman sold 2,878 shares of the business's stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $199.15, for a total value of $573,153.70. Following the completion of the sale, the insider now owns 107,587 shares of the company's stock, valued at approximately $21,425,951.05. The trade was a 2.61 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Ajay Mangal sold 190,480 shares of the firm's stock in a transaction that occurred on 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 transaction, the insider now owns 2,580,210 shares in the company, valued at approximately $517,822,344.90. The trade was a 6.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 209,234 shares of company stock worth $42,030,790. 18.10% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. BMO Capital Markets lifted their price target on shares of Zscaler from $222.00 to $233.00 and gave the company an "outperform" rating in a research note on Thursday, March 6th. Wells Fargo & Company upped their price target on Zscaler from $190.00 to $210.00 and gave the stock an "equal weight" rating in a research note on Thursday, March 6th. Rosenblatt Securities reiterated a "buy" rating and issued a $235.00 price target on shares of Zscaler in a report on Tuesday, April 15th. Mizuho boosted their price objective on Zscaler from $210.00 to $225.00 and gave the company a "neutral" rating in a report on Wednesday, February 12th. Finally, Scotiabank reissued a "sector outperform" rating and issued a $242.00 price target (up previously from $225.00) on shares of Zscaler in a research report on Wednesday, March 5th. Nine equities research 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's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $234.16.

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.