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

Nomura Asset Management Co. Ltd. reduced its position in shares of Zscaler, Inc. (NASDAQ:ZS - Free Report) by 3.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 368,233 shares of the company's stock after selling 12,230 shares during the period. Nomura Asset Management Co. Ltd. owned about 0.24% of Zscaler worth $66,433,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also modified their holdings of the company. Global X Japan Co. Ltd. boosted its holdings 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 purchasing an additional 79 shares during the period. Stonebridge Financial Group LLC acquired a new stake in Zscaler in the 4th quarter valued at about $29,000. Prestige Wealth Management Group LLC purchased a new position in shares of Zscaler in the 3rd quarter valued at about $31,000. True Wealth Design LLC grew its position in shares of Zscaler by 18,500.0% during the third quarter. True Wealth Design LLC now owns 186 shares of the company's stock worth $32,000 after buying an additional 185 shares in the last quarter. 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 buying an additional 104 shares during the period. 46.45% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Zscaler news, major shareholder Ajay Mangal sold 190,480 shares of the company's stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $200.69, for a total value of $38,227,431.20. Following the transaction, the insider now directly owns 2,580,210 shares in the company, valued at approximately $517,822,344.90. This represents a 6.87 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Remo Canessa sold 3,721 shares of Zscaler stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $199.15, for a total transaction of $741,037.15. Following the sale, the chief financial officer now owns 213,702 shares of the company's stock, valued at approximately $42,558,753.30. This trade represents a 1.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 199,234 shares of company stock worth $39,970,790. 18.10% of the stock is owned by corporate insiders.

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Analyst Ratings Changes

ZS has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Zscaler from $200.00 to $225.00 and gave the stock a "buy" rating in a report on Tuesday, December 3rd. Loop Capital dropped their target price on Zscaler from $200.00 to $195.00 and set a "hold" rating on the stock in a report on Tuesday, December 3rd. Wells Fargo & Company lifted their price target on Zscaler from $190.00 to $210.00 and gave the stock an "equal weight" rating in a report on Thursday, March 6th. Sanford C. Bernstein reaffirmed an "outperform" rating and set a $244.00 price objective on shares of Zscaler in a research report on Thursday, March 6th. Finally, Guggenheim reissued a "neutral" rating on shares of Zscaler in a research report on Tuesday, December 3rd. Nine analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company. Based on data from MarketBeat.com, Zscaler has a consensus rating of "Moderate Buy" and a consensus price target of $233.22.

Zscaler Price Performance

Zscaler stock traded up $0.56 during mid-day trading on Tuesday, reaching $198.98. The company had a trading volume of 664,117 shares, compared to its average volume of 1,898,600. The stock's 50-day simple moving average is $202.30 and its 200-day simple moving average is $194.12. The company has a market capitalization of $30.79 billion, a P/E ratio of -796.09 and a beta of 0.88. Zscaler, Inc. has a 1 year low of $153.45 and a 1 year high of $217.84.

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.