MML Investors Services LLC Sells 13,054 Shares of Zscaler, Inc. (NASDAQ:ZS)

MML Investors Services LLC cut its holdings in shares of Zscaler, Inc. (NASDAQ:ZS - Free Report) by 45.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 15,967 shares of the company's stock after selling 13,054 shares during the period. MML Investors Services LLC's holdings in Zscaler were worth $2,881,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Global X Japan Co. Ltd. boosted its position 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 buying an additional 79 shares in the last quarter. Summit Securities Group LLC bought a new position in shares of Zscaler in the 4th quarter valued at $27,000. Stonebridge Financial Group LLC acquired a new stake in shares of Zscaler during the 4th quarter valued at $29,000. Versant Capital Management Inc grew 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 acquiring an additional 104 shares during the last quarter. Finally, Modus Advisors LLC acquired a new position in Zscaler in the 4th quarter worth about $36,000. Institutional investors and hedge funds own 46.45% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on ZS. Stephens began coverage on Zscaler in a report on Tuesday, April 1st. They set an "overweight" rating and a $255.00 price target on the stock. BMO Capital Markets boosted their target price on shares of Zscaler from $222.00 to $233.00 and gave the stock an "outperform" rating in a report on Thursday, March 6th. Mizuho raised their price target on shares of Zscaler from $210.00 to $225.00 and gave the company a "neutral" rating in a research note on Wednesday, February 12th. Roth Capital started coverage on shares of Zscaler in a research note on Wednesday, April 23rd. They issued a "neutral" rating and a $215.00 price objective on the stock. Finally, UBS Group raised their target price on Zscaler from $250.00 to $260.00 and gave the stock a "buy" 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's stock. According to MarketBeat, Zscaler has a consensus rating of "Moderate Buy" and a consensus target price of $234.16.

Zscaler Stock Performance

ZS stock opened at $215.58 on Monday. The business has a 50-day simple moving average of $199.30 and a two-hundred day simple moving average of $197.39. The company has a market capitalization of $33.36 billion, a P/E ratio of -862.32 and a beta of 1.12. Zscaler, Inc. has a 52-week low of $153.45 and a 52-week high of $217.84.

Insider Activity at Zscaler

In other Zscaler news, insider Robert Schlossman sold 2,878 shares of the stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $199.15, for a total value of $573,153.70. Following the completion of the sale, the insider now owns 107,587 shares in the company, valued at approximately $21,425,951.05. This trade represents a 2.61 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder Ajay Mangal sold 190,480 shares of the business's stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $200.69, for a total value of $38,227,431.20. Following the completion of the transaction, the insider now 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 209,234 shares of company stock valued at $42,030,790 over the last 90 days. Insiders own 18.10% of the company's stock.

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.

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