Zscaler, Inc. (NASDAQ:ZS) Shares Sold by Groupama Asset Managment

Groupama Asset Managment lowered its position in Zscaler, Inc. (NASDAQ:ZS - Free Report) by 75.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,002,008 shares of the company's stock after selling 3,157,158 shares during the quarter. Zscaler comprises approximately 1.3% of Groupama Asset Managment's investment portfolio, making the stock its 18th biggest holding. Groupama Asset Managment owned 0.65% of Zscaler worth $180,772,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Pictet Asset Management Holding SA grew its stake 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 valued at $291,935,000 after acquiring an additional 332,307 shares in the last quarter. DnB Asset Management AS increased its stake 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 worth $120,403,000 after purchasing an additional 267,162 shares during the period. Artisan Partners Limited Partnership raised its stake in Zscaler by 30.9% during the 4th 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 during the last quarter. Norges Bank acquired a new stake in Zscaler during the fourth quarter worth about $32,158,000. Finally, Raymond James Financial Inc. acquired a new position in shares of Zscaler in the fourth quarter valued at $28,072,000. 46.45% of the stock is currently owned by institutional investors and hedge funds.

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Zscaler Stock Down 7.2 %

ZS traded down $14.83 on Thursday, reaching $192.21. 3,897,122 shares of the company traded hands, compared to its average volume of 1,913,879. The company has a market cap of $29.74 billion, a P/E ratio of -768.84 and a beta of 1.12. Zscaler, Inc. has a one year low of $153.45 and a one year high of $217.84. The firm has a fifty day simple moving average of $202.77 and a two-hundred day simple moving average of $194.42.

Insider Activity at Zscaler

In other news, CEO Jagtar Singh Chaudhry sold 2,155 shares of Zscaler stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $199.15, for a total transaction of $429,168.25. Following the sale, the chief executive officer now 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Ajay Mangal sold 190,480 shares of the company's stock in a transaction dated 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 transaction, the insider now directly 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 disclosure for this sale can be found here. Insiders have sold a total of 199,234 shares of company stock valued at $39,970,790 in the last ninety days. Company insiders own 18.10% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Citigroup restated a "buy" rating and issued a $240.00 price target (up from $235.00) on shares of Zscaler in a research report on Wednesday, March 5th. BTIG Research set a $252.00 price target on shares of Zscaler and gave the company a "buy" rating in a research report on Thursday, March 6th. Needham & Company LLC reissued a "buy" rating and issued a $240.00 target price on shares of Zscaler in a research note on Wednesday, March 5th. Scotiabank restated a "sector outperform" rating and set a $242.00 price objective (up from $225.00) on shares of Zscaler in a report on Wednesday, March 5th. Finally, Wedbush boosted their target price on Zscaler from $230.00 to $240.00 and gave the company an "outperform" rating in a research note on Thursday, March 6th. Eight investment 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. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $234.94.

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.