Legal & General Group Plc Sells 175,424 Shares of Zscaler, Inc. (NASDAQ:ZS)

Legal & General Group Plc lessened its position in shares of Zscaler, Inc. (NASDAQ:ZS - Free Report) by 23.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 560,519 shares of the company's stock after selling 175,424 shares during the period. Legal & General Group Plc owned approximately 0.37% of Zscaler worth $101,123,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in ZS. Global X Japan Co. Ltd. lifted its stake in shares of Zscaler by 127.4% in the 4th 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 during the last quarter. Summit Securities Group LLC bought a new stake in shares of Zscaler during the fourth quarter worth about $27,000. Stonebridge Financial Group LLC bought a new position in Zscaler in the 4th quarter valued at approximately $29,000. Versant Capital Management Inc boosted its position in Zscaler by 136.8% during 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 period. Finally, Modus Advisors LLC acquired a new position in Zscaler in the 4th quarter valued at approximately $36,000. 46.45% of the stock is owned by institutional investors.

Zscaler Trading Up 2.0 %

Shares of NASDAQ:ZS traded up $3.93 during mid-day trading on Tuesday, hitting $203.37. 1,112,914 shares of the company traded hands, compared to its average volume of 1,975,107. The stock has a 50-day moving average price of $200.77 and a two-hundred day moving average price of $195.68. Zscaler, Inc. has a 12-month low of $153.45 and a 12-month high of $217.84. The stock has a market cap of $31.47 billion, a P/E ratio of -814.46 and a beta of 1.12.

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Insider Transactions at Zscaler

In other Zscaler news, major shareholder Ajay Mangal sold 190,480 shares of the business's stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $200.69, for a total value of $38,227,431.20. Following 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Andrew William Fraser Brown sold 10,000 shares of the stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $206.00, for a total value of $2,060,000.00. Following the transaction, the director now directly owns 27,216 shares of the company's stock, valued at approximately $5,606,496. This trade represents a 26.87 % decrease in their ownership of the stock. 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 quarter. 18.10% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts recently weighed in on the company. Rosenblatt Securities restated a "buy" rating and issued a $235.00 price objective on shares of Zscaler in a report on Tuesday. Barclays reaffirmed an "overweight" rating on shares of Zscaler in a research note on Wednesday, March 5th. BTIG Research set a $252.00 target price on Zscaler and gave the company a "buy" rating in a report on Thursday, March 6th. Cantor Fitzgerald upgraded shares of Zscaler from a "neutral" rating to an "overweight" rating and raised their price target for the stock from $220.00 to $250.00 in a report on Thursday, April 3rd. Finally, Sanford C. Bernstein reaffirmed an "outperform" rating and issued a $244.00 price objective on shares of Zscaler 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 issued a strong buy rating to the company's stock. According to MarketBeat, Zscaler presently has a consensus rating of "Moderate Buy" and an average 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.