First Trust Advisors LP Lowers Stock Position in Zscaler, Inc. (NASDAQ:ZS)

First Trust Advisors LP reduced its stake in Zscaler, Inc. (NASDAQ:ZS - Free Report) by 0.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,286,648 shares of the company's stock after selling 17,774 shares during the period. First Trust Advisors LP owned 1.49% of Zscaler worth $412,534,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Global X Japan Co. Ltd. boosted its position 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 purchased a new stake in Zscaler in the fourth quarter valued at approximately $27,000. Stonebridge Financial Group LLC acquired a new stake in shares of Zscaler in the fourth quarter valued at approximately $29,000. Versant Capital Management Inc grew its position in shares of Zscaler by 136.8% during the fourth quarter. Versant Capital Management Inc now owns 180 shares of the company's stock worth $32,000 after acquiring an additional 104 shares during the last quarter. Finally, Modus Advisors LLC purchased a new position in shares of Zscaler during the fourth quarter worth approximately $36,000. Institutional investors and hedge funds own 46.45% of the company's stock.

Zscaler Trading Up 4.8 %

Shares of NASDAQ ZS traded up $9.72 during trading on Thursday, reaching $210.31. The company had a trading volume of 1,424,839 shares, compared to its average volume of 1,975,879. Zscaler, Inc. has a twelve month low of $153.45 and a twelve month high of $217.84. The stock has a 50-day moving average price of $199.38 and a two-hundred day moving average price of $196.76. The stock has a market capitalization of $32.54 billion, a PE ratio of -840.02 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 dated Tuesday, March 18th. The stock was sold at an average price of $199.15, for a total transaction of $429,168.25. Following the transaction, the chief executive officer now directly owns 356,414 shares in the company, valued at approximately $70,979,848.10. This represents a 0.60 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Robert Schlossman sold 2,878 shares of Zscaler stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $199.15, for a total value of $573,153.70. Following the completion of the sale, the insider now owns 107,587 shares of the company's stock, valued at $21,425,951.05. This trade represents a 2.61 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 209,234 shares of company stock valued at $42,030,790. 18.10% of the stock is owned by insiders.

Analyst Ratings Changes

ZS has been the subject of a number of recent research reports. Jefferies Financial Group decreased their price target on shares of Zscaler from $245.00 to $240.00 and set a "buy" rating for the company in a research note on Monday, March 31st. BMO Capital Markets lifted their target price on Zscaler from $222.00 to $233.00 and gave the company an "outperform" rating in a research note on Thursday, March 6th. Rosenblatt Securities restated a "buy" rating and set a $235.00 price target on shares of Zscaler in a research note on Tuesday, April 15th. UBS Group boosted their price objective on shares of Zscaler from $250.00 to $260.00 and gave the company a "buy" rating in a research note on Thursday, March 6th. Finally, Stephens assumed coverage on Zscaler in a report on Tuesday, April 1st. They issued an "overweight" rating and a $255.00 price objective on the stock. Nine analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $234.16.

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.