Edmond DE Rothschild Holding S.A. Has $247,000 Position in Zscaler, Inc. (NASDAQ:ZS)

Edmond DE Rothschild Holding S.A. lowered its stake in Zscaler, Inc. (NASDAQ:ZS - Free Report) by 99.7% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,367 shares of the company's stock after selling 416,037 shares during the period. Edmond DE Rothschild Holding S.A.'s holdings in Zscaler were worth $247,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently modified their holdings of the company. Pictet Asset Management Holding SA increased its position in shares of Zscaler by 25.8% in the fourth quarter. Pictet Asset Management Holding SA now owns 1,618,176 shares of the company's stock worth $291,935,000 after acquiring an additional 332,307 shares in the last quarter. DnB Asset Management AS raised its stake in Zscaler by 66.8% during the 4th quarter. DnB Asset Management AS now owns 667,383 shares of the company's stock valued at $120,403,000 after purchasing an additional 267,162 shares during the period. Artisan Partners Limited Partnership lifted its holdings in shares of Zscaler by 30.9% in the fourth quarter. Artisan Partners Limited Partnership now owns 868,795 shares of the company's stock valued at $156,739,000 after purchasing an additional 204,996 shares in the last quarter. Norges Bank purchased a new position in shares of Zscaler during the fourth quarter valued at $32,158,000. Finally, Raymond James Financial Inc. acquired a new position in Zscaler during the fourth quarter valued at $28,072,000. Institutional investors and hedge funds own 46.45% of the company's stock.

Analyst Upgrades and Downgrades

ZS has been the topic of several research analyst reports. Scotiabank reaffirmed a "sector outperform" rating and set a $242.00 target price (up previously from $225.00) on shares of Zscaler in a research note on Wednesday, March 5th. Rosenblatt Securities upgraded shares of Zscaler from a "neutral" rating to a "buy" rating and increased their target price for the stock from $190.00 to $235.00 in a research report on Thursday, March 6th. JPMorgan Chase & Co. boosted their price target on shares of Zscaler from $240.00 to $250.00 and gave the company an "overweight" rating in a report on Thursday, March 6th. The Goldman Sachs Group set a $207.00 price objective on Zscaler and gave the stock a "neutral" rating in a report on Thursday, March 6th. Finally, BMO Capital Markets boosted their target price on Zscaler from $222.00 to $233.00 and gave the company an "outperform" rating in a research note on Thursday, March 6th. Eight 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 company's stock. According to data from MarketBeat.com, Zscaler currently has a consensus rating of "Moderate Buy" and a consensus target price of $234.94.

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Zscaler Stock Down 9.1 %

Zscaler stock traded down $17.54 during trading hours on Friday, hitting $174.67. The stock had a trading volume of 5,709,239 shares, compared to its average volume of 1,927,875. The company has a 50-day moving average of $202.38 and a two-hundred day moving average of $194.43. Zscaler, Inc. has a fifty-two week low of $153.45 and a fifty-two week high of $217.84. The company has a market cap of $27.03 billion, a PE ratio of -698.68 and a beta of 1.12.

Insider Activity

In other news, major shareholder Ajay Mangal sold 190,480 shares of Zscaler stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $200.69, for a total transaction of $38,227,431.20. Following the completion of the sale, the insider now owns 2,580,210 shares in the company, valued at $517,822,344.90. The trade was a 6.87 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Andrew William Fraser Brown sold 10,000 shares of the stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $206.00, for a total transaction of $2,060,000.00. Following the completion of the transaction, the director now owns 27,216 shares in the company, valued at $5,606,496. This represents a 26.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 209,234 shares of company stock worth $42,030,790. 18.10% of the stock is owned by corporate 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.