J. Safra Sarasin Holding AG Reduces Position in Zscaler, Inc. (NASDAQ:ZS)

J. Safra Sarasin Holding AG reduced its holdings in shares of Zscaler, Inc. (NASDAQ:ZS - Free Report) by 34.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 28,983 shares of the company's stock after selling 15,005 shares during the quarter. J. Safra Sarasin Holding AG's holdings in Zscaler were worth $5,229,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Global X Japan Co. Ltd. boosted its stake in Zscaler by 127.4% in the fourth quarter. Global X Japan Co. Ltd. now owns 141 shares of the company's stock valued at $25,000 after acquiring an additional 79 shares in the last quarter. Summit Securities Group LLC purchased a new position in shares of Zscaler during the fourth quarter worth $27,000. Stonebridge Financial Group LLC acquired a new stake in Zscaler during the fourth quarter valued at $29,000. Versant Capital Management Inc boosted its holdings in Zscaler by 136.8% in the 4th quarter. Versant Capital Management Inc now owns 180 shares of the company's stock worth $32,000 after buying an additional 104 shares during the last quarter. Finally, Modus Advisors LLC acquired a new position in Zscaler in the 4th quarter valued at $36,000. Hedge funds and other institutional investors own 46.45% of the company's stock.

Insider Buying and Selling

In other news, Director Andrew William Fraser Brown sold 10,000 shares of the company's stock in a transaction dated 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 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 transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Remo Canessa sold 3,721 shares of the company's stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $199.15, for a total transaction of $741,037.15. Following the completion of the sale, the chief financial officer now directly owns 213,702 shares in the company, valued at approximately $42,558,753.30. The trade was a 1.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 209,234 shares of company stock valued at $42,030,790. Company insiders own 18.10% of the company's stock.

Zscaler Stock Performance

Shares of Zscaler stock traded up $5.44 on Friday, hitting $215.58. 2,884,983 shares of the company traded hands, compared to its average volume of 1,986,562. The stock has a market capitalization of $33.36 billion, a P/E ratio of -862.32 and a beta of 1.12. The business has a 50-day simple moving average of $199.33 and a 200 day simple moving average of $197.03. Zscaler, Inc. has a 52 week low of $153.45 and a 52 week high of $217.84.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on ZS. Morgan Stanley lowered their target price on Zscaler from $205.00 to $200.00 and set an "equal weight" rating for the company in a report on Wednesday, April 16th. Stephens started coverage on Zscaler in a report on Tuesday, April 1st. They issued an "overweight" rating and a $255.00 price objective on the stock. Cantor Fitzgerald raised shares of Zscaler from a "neutral" rating to an "overweight" rating and increased their price objective for the company from $220.00 to $250.00 in a research note on Thursday, April 3rd. Needham & Company LLC reissued a "buy" rating and issued a $240.00 price objective on shares of Zscaler in a research report on Wednesday, March 5th. Finally, Royal Bank of Canada raised their target price on shares of Zscaler from $230.00 to $250.00 and gave the stock an "outperform" rating in a research report on Thursday, March 6th. Nine equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $234.16.

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.