NewEdge Advisors LLC Has $817,000 Stock Position in Zscaler, Inc. (NASDAQ:ZS)

NewEdge Advisors LLC lessened its holdings in shares of Zscaler, Inc. (NASDAQ:ZS - Free Report) by 33.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,529 shares of the company's stock after selling 2,242 shares during the quarter. NewEdge Advisors LLC's holdings in Zscaler were worth $817,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Corebridge Financial Inc. boosted its holdings in shares of Zscaler by 0.5% during the 4th quarter. Corebridge Financial Inc. now owns 11,695 shares of the company's stock worth $2,110,000 after buying an additional 54 shares during the period. Erste Asset Management GmbH grew its position in shares of Zscaler by 0.6% in the fourth quarter. Erste Asset Management GmbH now owns 9,780 shares of the company's stock valued at $1,805,000 after purchasing an additional 56 shares during the last quarter. KRS Capital Management LLC increased its stake in shares of Zscaler by 1.9% during the fourth quarter. KRS Capital Management LLC now owns 3,261 shares of the company's stock worth $588,000 after purchasing an additional 60 shares during the period. Ironwood Investment Management LLC lifted its holdings in Zscaler by 1.0% during the 4th quarter. Ironwood Investment Management LLC now owns 6,249 shares of the company's stock worth $1,127,000 after purchasing an additional 64 shares during the last quarter. Finally, Smartleaf Asset Management LLC boosted its stake in Zscaler by 16.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 482 shares of the company's stock valued at $88,000 after purchasing an additional 69 shares during the period. Institutional investors own 46.45% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. 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. Wells Fargo & Company raised their price target on shares of Zscaler from $190.00 to $210.00 and gave the stock an "equal weight" rating in a research report on Thursday, March 6th. Morgan Stanley cut their price objective on shares of Zscaler from $205.00 to $200.00 and set an "equal weight" rating for the company in a report on Wednesday, April 16th. Needham & Company LLC reaffirmed a "buy" rating and set a $240.00 target price on shares of Zscaler in a report on Wednesday, March 5th. Finally, Wedbush boosted their price target on Zscaler from $230.00 to $240.00 and gave the company an "outperform" rating in a research note on Thursday, March 6th. Nine investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $234.16.

Zscaler Stock Up 2.6 %

Shares of NASDAQ:ZS opened at $215.58 on Friday. The business has a fifty day simple moving average of $199.30 and a 200 day simple moving average of $197.29. Zscaler, Inc. has a 12-month low of $153.45 and a 12-month high of $217.84. The firm has a market cap of $33.36 billion, a P/E ratio of -862.32 and a beta of 1.12.

Insider Transactions at Zscaler

In related news, insider Robert Schlossman sold 2,878 shares of the firm's stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $199.15, for a total transaction of $573,153.70. Following the completion of the sale, the insider now owns 107,587 shares of the company's stock, valued at $21,425,951.05. This trade represents a 2.61 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Jagtar Singh Chaudhry sold 2,155 shares of Zscaler stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $199.15, for a total value of $429,168.25. Following the completion of the sale, the chief executive officer now owns 356,414 shares of the company's stock, valued at approximately $70,979,848.10. The trade was a 0.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 209,234 shares of company stock worth $42,030,790 over the last ninety days. 18.10% of the stock is owned by insiders.

About Zscaler

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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