Essex Investment Management Co. LLC decreased its stake in Zscaler, Inc. (NASDAQ:ZS - Free Report) by 27.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,187 shares of the company's stock after selling 5,442 shares during the quarter. Essex Investment Management Co. LLC's holdings in Zscaler were worth $2,559,000 as of its most recent SEC filing.
Several other institutional investors have also modified their holdings of ZS. Global X Japan Co. Ltd. boosted its position in Zscaler by 127.4% during the fourth quarter. Global X Japan Co. Ltd. now owns 141 shares of the company's stock worth $25,000 after acquiring an additional 79 shares during the last quarter. Stonebridge Financial Group LLC acquired a new position in Zscaler during the fourth quarter worth about $29,000. Prestige Wealth Management Group LLC acquired a new position in Zscaler during the third quarter worth about $31,000. True Wealth Design LLC boosted its position in Zscaler by 18,500.0% during the third quarter. True Wealth Design LLC now owns 186 shares of the company's stock worth $32,000 after acquiring an additional 185 shares during the last quarter. Finally, Versant Capital Management Inc boosted its position in Zscaler by 136.8% during the fourth quarter. Versant Capital Management Inc now owns 180 shares of the company's stock worth $32,000 after acquiring an additional 104 shares during the last quarter. Institutional investors and hedge funds own 46.45% of the company's stock.
Analyst Upgrades and Downgrades
A number of equities analysts recently weighed in on ZS shares. Barclays restated an "overweight" rating on shares of Zscaler in a research report on Wednesday, March 5th. Wells Fargo & Company boosted their target price on shares of Zscaler from $190.00 to $210.00 and gave the company an "equal weight" rating in a report on Thursday, March 6th. The Goldman Sachs Group set a $207.00 target price on shares of Zscaler and gave the company a "neutral" rating in a report on Thursday, March 6th. Mizuho boosted their target price on shares of Zscaler from $210.00 to $225.00 and gave the company a "neutral" rating in a report on Wednesday, February 12th. Finally, Citigroup reiterated a "buy" rating and issued a $240.00 target price (up from $235.00) on shares of Zscaler in a report on Wednesday, March 5th. 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 has a consensus rating of "Moderate Buy" and a consensus target price of $233.88.
View Our Latest Analysis on ZS
Zscaler Stock Performance
Shares of NASDAQ:ZS traded down $1.57 during trading hours on Wednesday, reaching $197.79. The stock had a trading volume of 2,216,047 shares, compared to its average volume of 1,870,823. Zscaler, Inc. has a 1 year low of $153.45 and a 1 year high of $217.84. The firm's 50 day moving average is $197.74 and its 200-day moving average is $191.66. The stock has a market capitalization of $30.35 billion, a price-to-earnings ratio of -791.16 and a beta of 0.88.
Insider Buying and Selling at Zscaler
In other news, CFO Remo Canessa sold 3,703 shares of the company's stock in a transaction on Tuesday, December 17th. The shares were 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 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 filing with the SEC, which is accessible through this link. Also, CEO Jagtar Singh Chaudhry sold 2,863 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 transaction of $573,516.16. Following the sale, the chief executive officer now owns 358,569 shares of the company's stock, valued at approximately $71,828,542.08. This represents a 0.79 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 10,248 shares of company stock valued at $2,052,879. Insiders own 18.10% of the company's stock.
About Zscaler
(
Free Report)
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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