Stifel Financial Corp Purchases 9,464 Shares of Zscaler, Inc. (NASDAQ:ZS)

Stifel Financial Corp raised its position in shares of Zscaler, Inc. (NASDAQ:ZS - Free Report) by 9.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 112,665 shares of the company's stock after acquiring an additional 9,464 shares during the period. Stifel Financial Corp owned approximately 0.07% of Zscaler worth $20,326,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in ZS. Global X Japan Co. Ltd. grew its position in Zscaler by 127.4% in the 4th quarter. Global X Japan Co. Ltd. now owns 141 shares of the company's stock worth $25,000 after purchasing an additional 79 shares during the last quarter. Summit Securities Group LLC acquired a new position in Zscaler in the 4th quarter valued at approximately $27,000. Stonebridge Financial Group LLC bought a new stake in shares of Zscaler in the 4th quarter worth approximately $29,000. Versant Capital Management Inc grew its holdings 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 purchasing an additional 104 shares in the last quarter. Finally, Modus Advisors LLC bought a new stake in shares of Zscaler during the fourth quarter valued at approximately $36,000. 46.45% of the stock is owned by institutional investors and hedge funds.

Zscaler Stock Performance

Shares of Zscaler stock opened at $215.58 on Friday. Zscaler, Inc. has a 52 week low of $153.45 and a 52 week high of $217.84. The stock has a market capitalization of $33.36 billion, a price-to-earnings ratio of -862.32 and a beta of 1.12. The firm has a fifty day moving average of $199.30 and a two-hundred day moving average of $197.29.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on ZS. Barclays restated an "overweight" rating on shares of Zscaler in a research note on Wednesday, March 5th. Sanford C. Bernstein reissued an "outperform" rating and issued a $244.00 price target on shares of Zscaler in a research report on Thursday, March 6th. Needham & Company LLC reiterated a "buy" rating and issued a $240.00 price objective on shares of Zscaler in a research note on Wednesday, March 5th. Morgan Stanley dropped their target price on Zscaler from $205.00 to $200.00 and set an "equal weight" rating for the company in a report on Wednesday, April 16th. Finally, Robert W. Baird upped their price target on Zscaler from $240.00 to $250.00 and gave the company an "outperform" rating in a research report on Thursday, March 6th. Nine equities research 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 company. Based on data from MarketBeat, Zscaler has an average rating of "Moderate Buy" and a consensus price target of $234.16.

Insider Activity at Zscaler

In other Zscaler news, Director Andrew William Fraser Brown sold 10,000 shares of the stock in a transaction dated 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 completion of the sale, the director now directly owns 27,216 shares in the company, valued at $5,606,496. This represents a 26.87 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Ajay Mangal sold 190,480 shares of the firm's stock in a transaction dated 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 sale, 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 disclosure for this sale can be found here. Over the last quarter, insiders sold 209,234 shares of company stock worth $42,030,790. 18.10% of the stock is owned by insiders.

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.

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