155,601 Shares in Zscaler, Inc. (NASDAQ:ZS) Bought by Raymond James Financial Inc.

Raymond James Financial Inc. purchased a new position in Zscaler, Inc. (NASDAQ:ZS - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 155,601 shares of the company's stock, valued at approximately $28,072,000. Raymond James Financial Inc. owned about 0.10% of Zscaler at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Fred Alger Management LLC grew its holdings in shares of Zscaler by 1,151.0% during the third quarter. Fred Alger Management LLC now owns 10,371 shares of the company's stock valued at $1,773,000 after buying an additional 9,542 shares during the last quarter. Nomura Asset Management Co. Ltd. grew its holdings in shares of Zscaler by 11.0% during the third quarter. Nomura Asset Management Co. Ltd. now owns 380,463 shares of the company's stock valued at $65,036,000 after buying an additional 37,801 shares during the last quarter. Zweig DiMenna Associates LLC grew its holdings in shares of Zscaler by 29.8% during the fourth quarter. Zweig DiMenna Associates LLC now owns 77,941 shares of the company's stock valued at $14,061,000 after buying an additional 17,900 shares during the last quarter. Baader Bank Aktiengesellschaft grew its holdings in shares of Zscaler by 30.3% during the fourth quarter. Baader Bank Aktiengesellschaft now owns 8,400 shares of the company's stock valued at $1,515,000 after buying an additional 1,952 shares during the last quarter. Finally, Benjamin Edwards Inc. purchased a new stake in Zscaler in the third quarter valued at $449,000. 46.45% of the stock is owned by hedge funds and other institutional investors.

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Zscaler Price Performance

Shares of ZS traded down $1.06 during midday trading on Tuesday, reaching $201.59. The stock had a trading volume of 1,610,813 shares, compared to its average volume of 1,834,919. Zscaler, Inc. has a 1-year low of $153.45 and a 1-year high of $217.84. The company's fifty day simple moving average is $198.42 and its two-hundred day simple moving average is $191.63. The company has a market cap of $31.19 billion, a price-to-earnings ratio of -806.36 and a beta of 0.88.

Wall Street Analysts Forecast Growth

ZS has been the topic of several recent research reports. Needham & Company LLC reaffirmed a "buy" rating and issued a $240.00 price target on shares of Zscaler in a report on Wednesday, March 5th. BTIG Research set a $252.00 price target on shares of Zscaler and gave the company a "buy" rating in a report on Thursday, March 6th. Oppenheimer upped their price target on shares of Zscaler from $230.00 to $250.00 and gave the company an "outperform" rating in a report on Tuesday, December 3rd. Robert W. Baird upped their price target on shares of Zscaler from $240.00 to $250.00 and gave the company an "outperform" rating in a report on Thursday, March 6th. Finally, Bank of America raised shares of Zscaler from a "neutral" rating to a "buy" rating and upped their price target for the company from $215.00 to $240.00 in a report on Friday, March 7th. Nine investment analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $233.06.

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.