Zscaler, Inc. (NASDAQ:ZS) Shares Acquired by Advisory Services Network LLC

Advisory Services Network LLC boosted its holdings in Zscaler, Inc. (NASDAQ:ZS) by 4.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 16,788 shares of the company’s stock after purchasing an additional 727 shares during the quarter. Advisory Services Network LLC’s holdings in Zscaler were worth $3,029,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in ZS. Global X Japan Co. Ltd. boosted its holdings 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 last quarter. Summit Securities Group LLC purchased a new position in shares of Zscaler in the 4th quarter worth $27,000. Stonebridge Financial Group LLC acquired a new position in Zscaler in the fourth quarter valued at $29,000. Versant Capital Management Inc grew its position in Zscaler by 136.8% during the fourth quarter. Versant Capital Management Inc now owns 180 shares of the company’s stock valued at $32,000 after acquiring an additional 104 shares during the period. Finally, Modus Advisors LLC acquired a new stake in Zscaler during the fourth quarter worth about $36,000. 46.45% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, major shareholder Ajay Mangal sold 190,480 shares of Zscaler stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $200.69, for a total transaction of $38,227,431.20. Following the sale, the insider now owns 2,580,210 shares of the company’s stock, valued at approximately $517,822,344.90. The trade was a 6.87 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Jagtar Singh Chaudhry sold 2,155 shares of the business’s stock in a transaction that occurred 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 owns 356,414 shares of the company’s stock, valued at approximately $70,979,848.10. This represents a 0.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 209,234 shares of company stock worth $42,030,790 over the last quarter. 18.10% of the stock is owned by company insiders.

Zscaler Stock Performance

Shares of NASDAQ:ZS opened at $195.36 on Friday. The company’s fifty day moving average is $201.00 and its two-hundred day moving average is $195.13. Zscaler, Inc. has a 1-year low of $153.45 and a 1-year high of $217.84. The stock has a market capitalization of $30.23 billion, a price-to-earnings ratio of -781.44 and a beta of 1.12.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on ZS. Bank of America raised Zscaler from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $215.00 to $240.00 in a research note on Friday, March 7th. JPMorgan Chase & Co. lifted their price target on shares of Zscaler from $240.00 to $250.00 and gave the company an “overweight” rating in a research report on Thursday, March 6th. Rosenblatt Securities upgraded shares of Zscaler from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $190.00 to $235.00 in a research note on Thursday, March 6th. Citigroup reissued a “buy” rating and issued a $240.00 target price (up previously from $235.00) on shares of Zscaler in a research note on Wednesday, March 5th. Finally, Royal Bank of Canada upped their price target on shares of Zscaler from $230.00 to $250.00 and gave the stock an “outperform” rating in a research report on Thursday, March 6th. Eight analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Zscaler presently has a consensus rating of “Moderate Buy” and a consensus price target of $234.94.

About Zscaler

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.