Vanguard Group Inc. Reduces Position in Zscaler, Inc. (NASDAQ:ZS)

Vanguard Group Inc. reduced its stake in shares of Zscaler, Inc. (NASDAQ:ZS - Free Report) by 0.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,596,472 shares of the company's stock after selling 17,409 shares during the period. Vanguard Group Inc. owned approximately 6.25% of Zscaler worth $1,731,300,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Geode Capital Management LLC increased its holdings in Zscaler by 3.9% in the 3rd quarter. Geode Capital Management LLC now owns 1,625,861 shares of the company's stock worth $277,327,000 after buying an additional 60,414 shares during the period. Bank of New York Mellon Corp increased its stake in shares of Zscaler by 3.2% in the fourth quarter. Bank of New York Mellon Corp now owns 539,113 shares of the company's stock worth $97,261,000 after acquiring an additional 16,742 shares during the period. Nomura Asset Management Co. Ltd. raised 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 worth $65,036,000 after purchasing an additional 37,801 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in Zscaler by 6.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 377,725 shares of the company's stock valued at $68,145,000 after purchasing an additional 22,655 shares during the period. Finally, LBP AM SA boosted its holdings in Zscaler by 14.7% in the fourth quarter. LBP AM SA now owns 366,978 shares of the company's stock valued at $66,207,000 after purchasing an additional 47,041 shares during the last quarter. 46.45% of the stock is owned by hedge funds and other institutional investors.

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Insider Activity

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 sale, the insider now directly owns 2,580,210 shares in the company, valued at approximately $517,822,344.90. This trade represents a 6.87 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jagtar Singh Chaudhry sold 2,155 shares of the business's 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 transaction, the chief executive officer now directly owns 356,414 shares of the company's stock, valued at $70,979,848.10. The trade was a 0.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 199,234 shares of company stock valued at $39,970,790. 18.10% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Canaccord Genuity Group upped their target price on Zscaler from $220.00 to $230.00 and gave the stock a "buy" rating in a research note on Tuesday, December 3rd. Bank of America raised shares of Zscaler from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $215.00 to $240.00 in a research note on Friday, March 7th. UBS Group lifted their target price on shares of Zscaler from $250.00 to $260.00 and gave the company a "buy" rating in a report on Thursday, March 6th. Mizuho increased their price target on shares of Zscaler from $210.00 to $225.00 and gave the stock a "neutral" rating in a report on Wednesday, February 12th. Finally, Scotiabank reaffirmed a "sector outperform" rating and issued a $242.00 price objective (up previously from $225.00) on shares of Zscaler in a report on Wednesday, March 5th. Nine equities research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company's stock. According to MarketBeat, Zscaler has a consensus rating of "Moderate Buy" and an average target price of $232.52.

Zscaler Price Performance

Shares of ZS stock traded down $8.72 during trading hours on Monday, hitting $198.42. The company had a trading volume of 3,490,195 shares, compared to its average volume of 1,903,373. Zscaler, Inc. has a fifty-two week low of $153.45 and a fifty-two week high of $217.84. The company's fifty day moving average is $202.30 and its 200 day moving average is $194.12. The stock has a market capitalization of $30.70 billion, a PE ratio of -793.68 and a beta of 0.88.

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.