Broderick Brian C Raises Position in Zscaler, Inc. (NASDAQ:ZS)

Broderick Brian C raised its holdings in Zscaler, Inc. (NASDAQ:ZS) by 53.8% during the fourth quarter, Holdings Channel reports. The institutional investor owned 10,000 shares of the company’s stock after buying an additional 3,500 shares during the period. Broderick Brian C’s holdings in Zscaler were worth $1,804,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of ZS. Pictet Asset Management Holding SA increased its position in Zscaler by 25.8% during the 4th quarter. Pictet Asset Management Holding SA now owns 1,618,176 shares of the company’s stock worth $291,935,000 after purchasing an additional 332,307 shares during the period. DnB Asset Management AS lifted its holdings in Zscaler by 66.8% in the 4th quarter. DnB Asset Management AS now owns 667,383 shares of the company’s stock valued at $120,403,000 after purchasing an additional 267,162 shares in the last quarter. Artisan Partners Limited Partnership grew its stake in Zscaler by 30.9% in the 4th quarter. Artisan Partners Limited Partnership now owns 868,795 shares of the company’s stock worth $156,739,000 after acquiring an additional 204,996 shares during the period. Norges Bank acquired a new stake in Zscaler in the 4th quarter worth about $32,158,000. Finally, Raymond James Financial Inc. purchased a new stake in Zscaler in the fourth quarter valued at approximately $28,072,000. Institutional investors and hedge funds own 46.45% of the company’s stock.

Zscaler Stock Performance

ZS stock opened at $192.21 on Friday. The firm has a 50 day moving average price of $202.76 and a 200-day moving average price of $194.41. Zscaler, Inc. has a 52-week low of $153.45 and a 52-week high of $217.84. The firm has a market capitalization of $29.74 billion, a price-to-earnings ratio of -768.84 and a beta of 1.12.

Insider Transactions at Zscaler

In other news, Director Andrew William Fraser Brown sold 10,000 shares of the stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $206.00, for a total value of $2,060,000.00. Following the transaction, the director now owns 27,216 shares in the company, valued at $5,606,496. This represents a 26.87 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Remo Canessa sold 3,721 shares of the company’s stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $199.15, for a total transaction of $741,037.15. Following the sale, the chief financial officer now directly owns 213,702 shares of the company’s stock, valued at approximately $42,558,753.30. This represents a 1.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 209,234 shares of company stock valued at $42,030,790. Insiders own 18.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on ZS shares. BTIG Research set a $252.00 price target on shares of Zscaler and gave the company a “buy” rating in a report on Thursday, March 6th. Wedbush lifted their price target on shares of Zscaler from $230.00 to $240.00 and gave the stock an “outperform” rating in a research note on Thursday, March 6th. Rosenblatt Securities upgraded Zscaler from a “neutral” rating to a “buy” rating and boosted their price target for the company from $190.00 to $235.00 in a report on Thursday, March 6th. Royal Bank of Canada boosted their price objective on shares of Zscaler from $230.00 to $250.00 and gave the company an “outperform” rating in a research report on Thursday, March 6th. Finally, Morgan Stanley initiated coverage on shares of Zscaler in a research report on Tuesday, March 18th. They issued an “equal weight” rating on the stock. Eight investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $234.94.

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.