Mitsubishi UFJ Trust & Banking Corp Cuts Position in Zscaler, Inc. (NASDAQ:ZS)

Mitsubishi UFJ Trust & Banking Corp reduced its stake in Zscaler, Inc. (NASDAQ:ZS - Free Report) by 5.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 40,930 shares of the company's stock after selling 2,141 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp's holdings in Zscaler were worth $7,384,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in ZS. Geode Capital Management LLC increased its stake in Zscaler by 3.9% during the third quarter. Geode Capital Management LLC now owns 1,625,861 shares of the company's stock worth $277,327,000 after purchasing an additional 60,414 shares during the period. Bank of New York Mellon Corp increased its stake in Zscaler by 3.2% during the 4th quarter. Bank of New York Mellon Corp now owns 539,113 shares of the company's stock worth $97,261,000 after buying an additional 16,742 shares during the period. Nomura Asset Management Co. Ltd. increased its stake in Zscaler by 11.0% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 380,463 shares of the company's stock worth $65,036,000 after buying an additional 37,801 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in Zscaler by 6.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 377,725 shares of the company's stock worth $68,145,000 after buying an additional 22,655 shares in the last quarter. Finally, LBP AM SA grew its stake in shares of Zscaler by 14.7% in the fourth quarter. LBP AM SA now owns 366,978 shares of the company's stock worth $66,207,000 after acquiring an additional 47,041 shares in the last quarter. Hedge funds and other institutional investors own 46.45% of the company's stock.

Remove Ads

Zscaler Trading Down 5.4 %

Shares of ZS traded down $11.09 during mid-day trading on Thursday, hitting $195.95. 2,493,620 shares of the company's stock were exchanged, compared to its average volume of 1,908,487. Zscaler, Inc. has a fifty-two week low of $153.45 and a fifty-two week high of $217.84. The business's 50 day moving average is $202.77 and its two-hundred day moving average is $194.42. The firm has a market capitalization of $30.32 billion, a P/E ratio of -783.80 and a beta of 1.12.

Insider Buying and Selling at Zscaler

In other news, CEO Jagtar Singh Chaudhry sold 2,155 shares of Zscaler stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $199.15, for a total value of $429,168.25. Following the sale, the chief executive officer now owns 356,414 shares of the company's stock, valued at $70,979,848.10. The trade was a 0.60 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Ajay Mangal sold 190,480 shares of the 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 transaction, the insider now directly owns 2,580,210 shares of the company's stock, valued at $517,822,344.90. This represents a 6.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 199,234 shares of company stock valued at $39,970,790 in the last ninety days. Insiders own 18.10% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on ZS. BTIG Research set a $252.00 price objective on Zscaler and gave the company a "buy" rating in a research note on Thursday, March 6th. The Goldman Sachs Group set a $207.00 price target on Zscaler and gave the company a "neutral" rating in a research report on Thursday, March 6th. Needham & Company LLC reissued a "buy" rating and set a $240.00 price objective on shares of Zscaler in a research report on Wednesday, March 5th. Barclays reaffirmed an "overweight" rating on shares of Zscaler in a report on Wednesday, March 5th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Zscaler from $240.00 to $250.00 and gave the stock an "overweight" rating in a report on Thursday, March 6th. Eight analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Zscaler 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.