Zscaler, Inc. (NASDAQ:ZS) Shares Sold by National Bank of Canada FI

National Bank of Canada FI lowered its holdings in shares of Zscaler, Inc. (NASDAQ:ZS - Free Report) by 49.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 35,451 shares of the company's stock after selling 34,243 shares during the period. National Bank of Canada FI's holdings in Zscaler were worth $6,396,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Global X Japan Co. Ltd. raised its stake in shares of Zscaler by 127.4% during the fourth quarter. Global X Japan Co. Ltd. now owns 141 shares of the company's stock worth $25,000 after purchasing an additional 79 shares during the last quarter. Summit Securities Group LLC purchased a new position in Zscaler during the 4th quarter worth $27,000. Stonebridge Financial Group LLC acquired a new stake in shares of Zscaler in the 4th quarter worth $29,000. Prestige Wealth Management Group LLC purchased a new stake in shares of Zscaler in the third quarter valued at about $31,000. Finally, Versant Capital Management Inc increased its stake in shares of Zscaler by 136.8% during the fourth 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 period. 46.45% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently commented on ZS. UBS Group raised their price objective on shares of Zscaler from $250.00 to $260.00 and gave the company a "buy" rating in a research report on Thursday, March 6th. Needham & Company LLC restated a "buy" rating and issued a $240.00 price target on shares of Zscaler in a research note on Wednesday, March 5th. Cantor Fitzgerald upgraded Zscaler from a "neutral" rating to an "overweight" rating and increased their price objective for the stock from $220.00 to $250.00 in a research report on Thursday, April 3rd. Robert W. Baird boosted their target price on shares of Zscaler from $240.00 to $250.00 and gave the stock an "outperform" rating in a research report on Thursday, March 6th. Finally, BTIG Research set a $252.00 price target on shares of Zscaler and gave the stock a "buy" rating 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 given a strong buy rating to the stock. According to MarketBeat, Zscaler currently has an average rating of "Moderate Buy" and an average price target of $234.94.

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Insider Activity at Zscaler

In other Zscaler news, Director Andrew William Fraser Brown sold 10,000 shares of Zscaler 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 owns 27,216 shares in the company, valued at $5,606,496. This trade represents a 26.87 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Robert Schlossman sold 2,878 shares of the company's stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $199.15, for a total value of $573,153.70. Following the sale, the insider now owns 107,587 shares of the company's stock, valued at approximately $21,425,951.05. The trade was a 2.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 209,234 shares of company stock worth $42,030,790. 18.10% of the stock is currently owned by insiders.

Zscaler Trading Up 1.4 %

Shares of Zscaler stock traded up $2.72 during trading hours on Friday, reaching $198.08. 2,313,728 shares of the company's stock were exchanged, compared to its average volume of 1,976,077. Zscaler, Inc. has a 52-week low of $153.45 and a 52-week high of $217.84. The company has a fifty day moving average of $200.88 and a 200-day moving average of $195.31. The firm has a market capitalization of $30.65 billion, a price-to-earnings ratio of -792.32 and a beta of 1.12.

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.