HighTower Advisors LLC increased its position in shares of Zscaler, Inc. (NASDAQ:ZS - Free Report) by 12.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 72,391 shares of the company's stock after buying an additional 7,817 shares during the period. HighTower Advisors LLC's holdings in Zscaler were worth $13,060,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. KRS Capital Management LLC increased its stake in Zscaler by 1.9% during the 4th quarter. KRS Capital Management LLC now owns 3,261 shares of the company's stock worth $588,000 after buying an additional 60 shares during the period. Smartleaf Asset Management LLC increased its position in shares of Zscaler by 16.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 482 shares of the company's stock worth $88,000 after purchasing an additional 69 shares during the last quarter. GAMMA Investing LLC increased its position in shares of Zscaler by 18.5% in the 4th quarter. GAMMA Investing LLC now owns 448 shares of the company's stock worth $81,000 after purchasing an additional 70 shares during the last quarter. Avior Wealth Management LLC increased its position in shares of Zscaler by 50.7% in the 4th quarter. Avior Wealth Management LLC now owns 214 shares of the company's stock worth $39,000 after purchasing an additional 72 shares during the last quarter. Finally, Choreo LLC increased its position in shares of Zscaler by 2.6% in the 4th quarter. Choreo LLC now owns 2,833 shares of the company's stock worth $517,000 after purchasing an additional 73 shares during the last quarter. Hedge funds and other institutional investors own 46.45% of the company's stock.
Insider Transactions at Zscaler
In related news, major shareholder Ajay Mangal sold 190,480 shares of the stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $200.69, for a total transaction of $38,227,431.20. Following the completion of the sale, the insider now directly owns 2,580,210 shares of the company's stock, valued at $517,822,344.90. This represents a 6.87 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 18.10% of the company's stock.
Analyst Ratings Changes
ZS has been the subject of several research analyst reports. Oppenheimer boosted their target price on shares of Zscaler from $230.00 to $250.00 and gave the stock an "outperform" rating in a research report on Tuesday, December 3rd. BMO Capital Markets boosted their target price on shares of Zscaler from $222.00 to $233.00 and gave the stock an "outperform" rating in a research report on Thursday, March 6th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Zscaler from $200.00 to $225.00 and gave the company a "buy" rating in a research report on Tuesday, December 3rd. Needham & Company LLC reaffirmed a "buy" rating and set a $240.00 price objective on shares of Zscaler in a research report on Wednesday, March 5th. Finally, Bank of America raised shares of Zscaler from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $215.00 to $240.00 in a research report on Friday, March 7th. Nine analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $232.68.
Read Our Latest Stock Report on ZS
Zscaler Stock Performance
Shares of NASDAQ:ZS traded down $0.40 during trading on Thursday, reaching $203.55. The company had a trading volume of 951,039 shares, compared to its average volume of 1,861,258. The firm's fifty day moving average is $199.11 and its 200 day moving average is $191.72. The firm has a market capitalization of $31.49 billion, a PE ratio of -814.20 and a beta of 0.88. Zscaler, Inc. has a twelve month low of $153.45 and a twelve month high of $217.84.
Zscaler Profile
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Free Report)
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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