Malaga Cove Capital LLC Sells 304 Shares of Zscaler, Inc. (NASDAQ:ZS)

Malaga Cove Capital LLC lessened its stake in shares of Zscaler, Inc. (NASDAQ:ZS) by 4.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,703 shares of the company’s stock after selling 304 shares during the quarter. Malaga Cove Capital LLC’s holdings in Zscaler were worth $1,209,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Global X Japan Co. Ltd. lifted 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 valued at $25,000 after acquiring an additional 79 shares in the last quarter. Summit Securities Group LLC bought a new position in Zscaler in the 4th quarter valued at about $27,000. Colonial Trust Co SC bought a new position in Zscaler in the 4th quarter valued at about $28,000. Stonebridge Financial Group LLC bought a new position in Zscaler in the 4th quarter valued at about $29,000. Finally, Crews Bank & Trust bought a new position in Zscaler in the 4th quarter valued at about $36,000. Institutional investors own 46.45% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Citigroup reaffirmed a “buy” rating and issued a $240.00 price target (up previously from $235.00) on shares of Zscaler in a research report on Wednesday, March 5th. Robert W. Baird increased their price objective on shares of Zscaler from $240.00 to $250.00 and gave the company an “outperform” rating in a research note 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 decreased their price objective on shares of Zscaler from $205.00 to $200.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 16th. Finally, BTIG Research set a $252.00 price objective on shares of Zscaler and gave the company a “buy” rating in a research note on Thursday, March 6th. Eight research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $236.66.

Zscaler Trading Up 1.5%

Shares of NASDAQ:ZS opened at $245.00 on Wednesday. The company has a market cap of $37.91 billion, a price-to-earnings ratio of -980.00 and a beta of 1.14. The company has a 50-day moving average price of $207.39 and a 200-day moving average price of $200.84. Zscaler, Inc. has a 12 month low of $153.45 and a 12 month high of $247.28.

Insider Activity

In related news, CEO Jagtar Singh Chaudhry sold 2,155 shares of the business’s stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $199.15, for a total transaction of $429,168.25. Following the transaction, the chief executive officer now owns 356,414 shares in the company, valued at $70,979,848.10. The trade was a 0.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Ajay Mangal sold 190,480 shares of the business’s stock in a transaction dated 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 transaction, the insider now owns 2,580,210 shares in the company, valued at $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 ninety days, insiders sold 209,234 shares of company stock valued at $42,030,790. Insiders own 18.10% of the company’s stock.

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.