Daiwa Securities Group Inc. Has $3.15 Million Stock Position in Zscaler, Inc. (NASDAQ:ZS)

Daiwa Securities Group Inc. decreased its holdings in shares of Zscaler, Inc. (NASDAQ:ZS - Free Report) by 18.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 17,430 shares of the company's stock after selling 4,030 shares during the quarter. Daiwa Securities Group Inc.'s holdings in Zscaler were worth $3,145,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in ZS. Fred Alger Management LLC increased its position in Zscaler by 1,151.0% during the third quarter. Fred Alger Management LLC now owns 10,371 shares of the company's stock worth $1,773,000 after acquiring an additional 9,542 shares during the period. Nomura Asset Management Co. Ltd. boosted its stake in shares of Zscaler by 11.0% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 380,463 shares of the company's stock valued at $65,036,000 after purchasing an additional 37,801 shares in the last quarter. Zweig DiMenna Associates LLC grew its stake in Zscaler by 29.8% during the fourth quarter. Zweig DiMenna Associates LLC now owns 77,941 shares of the company's stock worth $14,061,000 after buying an additional 17,900 shares during the last quarter. Baader Bank Aktiengesellschaft increased its holdings in Zscaler by 30.3% during the 4th quarter. Baader Bank Aktiengesellschaft now owns 8,400 shares of the company's stock valued at $1,515,000 after purchasing an additional 1,952 shares in the last quarter. Finally, Benjamin Edwards Inc. acquired a new stake in shares of Zscaler in the third quarter valued at $449,000. Institutional investors and hedge funds own 46.45% of the company's stock.

Insider Buying and Selling

In other news, CFO Remo Canessa sold 3,703 shares of the stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $200.32, for a total value of $741,784.96. Following the completion of the transaction, the chief financial officer now directly owns 220,635 shares in the company, valued at approximately $44,197,603.20. This represents a 1.65 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Syam Nair sold 3,682 shares of the company's stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $200.32, for a total value of $737,578.24. Following the completion of the transaction, the insider now directly owns 142,866 shares of the company's stock, valued at approximately $28,618,917.12. The trade was a 2.51 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 10,248 shares of company stock worth $2,052,879. Company insiders own 18.10% of the company's stock.

Zscaler Price Performance

Zscaler stock opened at $189.58 on Friday. The stock's fifty day moving average price is $197.74 and its two-hundred day moving average price is $191.66. The firm has a market cap of $29.33 billion, a PE ratio of -758.32 and a beta of 0.88. Zscaler, Inc. has a one year low of $153.45 and a one year high of $217.84.

Analysts Set New Price Targets

ZS has been the subject of a number of recent research reports. Morgan Stanley dropped their target price on Zscaler from $215.00 to $205.00 and set an "equal weight" rating for the company in a research report on Tuesday, December 3rd. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Zscaler from $200.00 to $225.00 and gave the company a "buy" rating in a report on Tuesday, December 3rd. Sanford C. Bernstein restated an "outperform" rating on shares of Zscaler in a report on Thursday, March 6th. Susquehanna lifted their price target on Zscaler from $210.00 to $225.00 and gave the company a "positive" rating in a research note on Tuesday, December 3rd. Finally, Stifel Nicolaus boosted their price target on shares of Zscaler from $220.00 to $235.00 and gave the stock a "buy" rating in a research report on Thursday, November 14th. Nine investment analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company. According to MarketBeat.com, Zscaler currently has a consensus rating of "Moderate Buy" and an average target price of $233.88.

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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.

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