Zscaler, Inc. (NASDAQ:ZS) Shares Sold by Mitsubishi UFJ Asset Management Co. Ltd.

Mitsubishi UFJ Asset Management Co. Ltd. lowered its stake in Zscaler, Inc. (NASDAQ:ZS - Free Report) by 4.5% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 108,257 shares of the company's stock after selling 5,075 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.07% of Zscaler worth $20,118,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in ZS. Geode Capital Management LLC boosted its holdings in Zscaler by 3.9% in the 3rd quarter. Geode Capital Management LLC now owns 1,625,861 shares of the company's stock worth $277,327,000 after buying an additional 60,414 shares during the period. 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 valued at $97,261,000 after acquiring an additional 16,742 shares in the last quarter. Nomura Asset Management Co. Ltd. boosted its stake in shares of Zscaler by 11.0% in the third quarter. Nomura Asset Management Co. Ltd. now owns 380,463 shares of the company's stock worth $65,036,000 after acquiring an additional 37,801 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of Zscaler by 6.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 377,725 shares of the company's stock worth $68,145,000 after purchasing an additional 22,655 shares in the last quarter. Finally, LBP AM SA grew its position in shares of Zscaler by 14.7% during the fourth quarter. LBP AM SA now owns 366,978 shares of the company's stock worth $66,207,000 after purchasing an additional 47,041 shares in the last quarter. 46.45% of the stock is owned by hedge funds and other institutional investors.

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Zscaler Stock Down 5.4 %

ZS stock traded down $11.09 during trading on Thursday, hitting $195.95. 2,493,620 shares of the company's stock traded hands, compared to its average volume of 1,908,629. The firm has a market capitalization of $30.32 billion, a P/E ratio of -783.80 and a beta of 1.12. Zscaler, Inc. has a 1 year low of $153.45 and a 1 year high of $217.84. The business has a fifty day simple moving average of $202.77 and a two-hundred day simple moving average of $194.42.

Insider Buying and Selling at Zscaler

In related news, major shareholder Ajay Mangal sold 190,480 shares of the firm's stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $200.69, for a total transaction of $38,227,431.20. Following the sale, the insider now owns 2,580,210 shares of the company's stock, valued at $517,822,344.90. This trade represents a 6.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Jagtar Singh Chaudhry sold 2,155 shares of the business's stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $199.15, for a total transaction of $429,168.25. Following the completion of the transaction, the chief executive officer now owns 356,414 shares of the company's stock, valued at $70,979,848.10. This represents a 0.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 199,234 shares of company stock valued at $39,970,790. 18.10% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts recently commented on ZS shares. Morgan Stanley assumed coverage on Zscaler in a report on Tuesday, March 18th. They issued an "equal weight" rating on the stock. Bank of America raised shares of Zscaler from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $215.00 to $240.00 in a report on Friday, March 7th. Needham & Company LLC reaffirmed a "buy" rating and set a $240.00 target price on shares of Zscaler in a research note on Wednesday, March 5th. JPMorgan Chase & Co. lifted their price target on shares of Zscaler from $240.00 to $250.00 and gave the company an "overweight" rating in a report on Thursday, March 6th. Finally, Wedbush raised their price objective on Zscaler from $230.00 to $240.00 and gave the company an "outperform" rating in a research report on Thursday, March 6th. Eight 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. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $234.94.

Zscaler 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.