Envestnet Asset Management Inc. Buys 12,531 Shares of Zscaler, Inc. (NASDAQ:ZS)

Envestnet Asset Management Inc. increased its holdings in shares of Zscaler, Inc. (NASDAQ:ZS - Free Report) by 96.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,579 shares of the company's stock after purchasing an additional 12,531 shares during the period. Envestnet Asset Management Inc.'s holdings in Zscaler were worth $4,615,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Geode Capital Management LLC boosted its position in shares of Zscaler by 2.0% during the fourth quarter. Geode Capital Management LLC now owns 1,658,406 shares of the company's stock worth $298,710,000 after buying an additional 32,545 shares during the period. Pictet Asset Management Holding SA boosted its position in Zscaler by 25.8% during the 4th 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 during the last quarter. Artisan Partners Limited Partnership grew its stake in shares of Zscaler by 30.9% during the 4th quarter. Artisan Partners Limited Partnership now owns 868,795 shares of the company's stock worth $156,739,000 after acquiring an additional 204,996 shares in the last quarter. DnB Asset Management AS raised its holdings in shares of Zscaler by 66.8% in the fourth 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 last quarter. Finally, Bank of New York Mellon Corp lifted its position in shares of Zscaler by 3.2% in the fourth quarter. Bank of New York Mellon Corp now owns 539,113 shares of the company's stock worth $97,261,000 after purchasing an additional 16,742 shares in the last quarter. 46.45% of the stock is currently owned by institutional investors and hedge funds.

Zscaler Trading Up 2.6 %

NASDAQ ZS traded up $5.44 on Friday, hitting $215.58. 2,884,983 shares of the company's stock were exchanged, compared to its average volume of 1,990,193. The stock has a 50-day moving average of $199.30 and a 200-day moving average of $197.29. The stock has a market cap of $33.36 billion, a price-to-earnings ratio of -862.32 and a beta of 1.12. Zscaler, Inc. has a 52 week low of $153.45 and a 52 week high of $217.84.

Insider Buying and Selling

In related news, insider Robert Schlossman sold 2,878 shares of the business's 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 sale, the insider now owns 107,587 shares in the company, valued at $21,425,951.05. The trade was a 2.61 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Jagtar Singh Chaudhry sold 2,155 shares of the company'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 $429,168.25. Following the completion of the transaction, the chief executive officer now directly owns 356,414 shares of the company's stock, valued at approximately $70,979,848.10. The trade was a 0.60 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 209,234 shares of company stock worth $42,030,790 in the last ninety days. 18.10% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on ZS. Barclays reiterated an "overweight" rating on shares of Zscaler in a research note on Wednesday, March 5th. The Goldman Sachs Group set a $207.00 price target on Zscaler and gave the company a "neutral" rating in a research report on Thursday, March 6th. Cantor Fitzgerald upgraded Zscaler from a "neutral" rating to an "overweight" rating and upped their price objective for the stock from $220.00 to $250.00 in a research note on Thursday, April 3rd. Jefferies Financial Group decreased their target price on shares of Zscaler from $245.00 to $240.00 and set a "buy" rating for the company in a research note on Monday, March 31st. Finally, Sanford C. Bernstein reaffirmed an "outperform" rating and set a $244.00 price target on shares of Zscaler in a research report on Thursday, March 6th. Nine analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has given 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 $234.16.

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.