Raymond James Financial Inc. Takes Position in Zscaler, Inc. (NASDAQ:ZS)

Raymond James Financial Inc. acquired a new position in shares of Zscaler, Inc. (NASDAQ:ZS - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 155,601 shares of the company's stock, valued at approximately $28,072,000. Raymond James Financial Inc. owned 0.10% of Zscaler as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Global X Japan Co. Ltd. raised its stake in shares of Zscaler by 127.4% in the 4th 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. Summit Securities Group LLC bought a new stake in Zscaler in the 4th quarter valued at approximately $27,000. Stonebridge Financial Group LLC acquired a new position in Zscaler during the 4th quarter worth approximately $29,000. Versant Capital Management Inc grew its stake in shares of 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 in the last quarter. Finally, Modus Advisors LLC acquired a new stake in shares of Zscaler in the fourth quarter valued at approximately $36,000. 46.45% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

ZS has been the subject of several recent research reports. The Goldman Sachs Group set a $207.00 target price on shares of Zscaler and gave the stock a "neutral" rating in a report on Thursday, March 6th. Barclays restated an "overweight" rating on shares of Zscaler in a report on Wednesday, March 5th. Royal Bank of Canada upped their target price on Zscaler from $230.00 to $250.00 and gave the stock an "outperform" rating in a report on Thursday, March 6th. Bank of America upgraded Zscaler from a "neutral" rating to a "buy" rating and raised their price target for the company from $215.00 to $240.00 in a research note on Friday, March 7th. Finally, Rosenblatt Securities reiterated a "buy" rating and set a $235.00 price objective on shares of Zscaler in a research note on Tuesday, April 15th. Nine analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $234.16.

Zscaler Price Performance

NASDAQ:ZS traded up $7.41 during mid-day trading on Wednesday, reaching $203.93. The stock had a trading volume of 606,510 shares, compared to its average volume of 1,972,692. Zscaler, Inc. has a 12 month low of $153.45 and a 12 month high of $217.84. The stock has a market capitalization of $31.55 billion, a PE ratio of -815.72 and a beta of 1.12. The stock has a 50-day simple moving average of $199.62 and a two-hundred day simple moving average of $196.74.

Insider Buying and Selling at Zscaler

In other news, major shareholder Ajay Mangal sold 190,480 shares of the stock in a transaction 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 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Andrew William Fraser Brown sold 10,000 shares of the business's stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $206.00, for a total value of $2,060,000.00. Following the sale, the director now owns 27,216 shares in the company, valued at $5,606,496. This represents a 26.87 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 209,234 shares of company stock valued at $42,030,790. 18.10% of the stock is currently owned by corporate insiders.

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.