Schroder Investment Management Group Has $24.95 Million Position in Zscaler, Inc. (NASDAQ:ZS)

Schroder Investment Management Group lowered its stake in Zscaler, Inc. (NASDAQ:ZS - Free Report) by 7.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 138,308 shares of the company's stock after selling 11,241 shares during the quarter. Schroder Investment Management Group owned about 0.09% of Zscaler worth $24,952,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in ZS. Allstate Corp bought a new position in shares of Zscaler during the fourth quarter worth about $480,000. Brown Brothers Harriman & Co. grew its stake in shares of Zscaler by 315.2% during the 4th quarter. Brown Brothers Harriman & Co. now owns 685 shares of the company's stock worth $124,000 after acquiring an additional 520 shares in the last quarter. DnB Asset Management AS raised its holdings in shares of Zscaler by 66.8% in the fourth quarter. DnB Asset Management AS now owns 667,383 shares of the company's stock valued at $120,403,000 after purchasing an additional 267,162 shares during the last quarter. Pictet Asset Management Holding SA lifted its position in shares of Zscaler by 25.8% in the fourth quarter. Pictet Asset Management Holding SA now owns 1,618,176 shares of the company's stock worth $291,935,000 after purchasing an additional 332,307 shares in the last quarter. Finally, Norges Bank acquired a new position in Zscaler during the fourth quarter worth $32,158,000. Institutional investors and hedge funds own 46.45% of the company's stock.

Analyst Ratings Changes

ZS has been the topic of several analyst reports. Mizuho boosted their price target on shares of Zscaler from $210.00 to $225.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 12th. UBS Group upped their target price on Zscaler from $250.00 to $260.00 and gave the stock a "buy" rating in a report on Thursday, March 6th. BTIG Research set a $252.00 price target on Zscaler and gave the company a "buy" rating in a research note on Thursday, March 6th. Scotiabank reiterated a "sector outperform" rating and set a $242.00 price objective (up previously from $225.00) on shares of Zscaler in a research note on Wednesday, March 5th. Finally, Wells Fargo & Company raised their target price on shares of Zscaler from $190.00 to $210.00 and gave the company an "equal weight" rating in a research note on Thursday, March 6th. Eight equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $234.94.

Remove Ads

Zscaler Price Performance

NASDAQ:ZS traded down $17.54 during mid-day trading on Friday, reaching $174.67. The stock had a trading volume of 5,709,239 shares, compared to its average volume of 1,927,875. The stock has a 50-day simple moving average of $202.38 and a two-hundred day simple moving average of $194.43. 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 $27.03 billion, a PE ratio of -698.68 and a beta of 1.12.

Insider Activity at Zscaler

In related news, CEO Jagtar Singh Chaudhry sold 2,155 shares of the stock in a transaction 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 directly owns 356,414 shares in the company, valued at $70,979,848.10. This represents a 0.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Robert Schlossman sold 2,878 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 value of $573,153.70. Following the transaction, the insider now directly owns 107,587 shares in the company, valued at $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. Insiders sold a total of 209,234 shares of company stock valued at $42,030,790 in the last quarter. Insiders own 18.10% of the company's stock.

Zscaler Company 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.