Howe & Rusling Inc. Sells 209 Shares of Zscaler, Inc. (NASDAQ:ZS)

Howe & Rusling Inc. lowered its stake in Zscaler, Inc. (NASDAQ:ZS) by 1.0% during the fourth quarter, Holdings Channel reports. The firm owned 21,061 shares of the company’s stock after selling 209 shares during the period. Howe & Rusling Inc.’s holdings in Zscaler were worth $3,800,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. NEOS Investment Management LLC raised its position in Zscaler by 15.5% during the fourth quarter. NEOS Investment Management LLC now owns 9,209 shares of the company’s stock valued at $1,661,000 after purchasing an additional 1,238 shares in the last quarter. Sava Infond d.o.o. bought a new stake in shares of Zscaler during the 4th quarter worth $61,000. Artisan Partners Limited Partnership boosted its stake in Zscaler by 30.9% in the fourth quarter. Artisan Partners Limited Partnership now owns 868,795 shares of the company’s stock valued at $156,739,000 after buying an additional 204,996 shares in the last quarter. Korea Investment CORP grew its position in Zscaler by 144.3% in the fourth quarter. Korea Investment CORP now owns 136,160 shares of the company’s stock valued at $24,565,000 after acquiring an additional 80,416 shares during the last quarter. Finally, Arlington Capital Management Inc. bought a new position in shares of Zscaler in the fourth quarter worth about $2,107,000. Institutional investors and hedge funds own 46.45% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. JPMorgan Chase & Co. upped their price objective on shares of Zscaler from $240.00 to $250.00 and gave the stock an “overweight” rating in a research report on Thursday, March 6th. Loop Capital lowered their price target on shares of Zscaler from $200.00 to $195.00 and set a “hold” rating for the company in a report on Tuesday, December 3rd. Oppenheimer raised their price objective on Zscaler from $230.00 to $250.00 and gave the company an “outperform” rating in a report on Tuesday, December 3rd. Bank of America upgraded Zscaler from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $215.00 to $240.00 in a research report on Friday, March 7th. Finally, Morgan Stanley started coverage on Zscaler in a research note on Tuesday, March 18th. They set an “equal weight” rating on the stock. Nine investment analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. Based on data from MarketBeat.com, Zscaler has a consensus rating of “Moderate Buy” and an average price target of $232.68.

Insider Buying and Selling at Zscaler

In related news, CEO Jagtar Singh Chaudhry sold 2,155 shares of the stock in a transaction 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 directly owns 356,414 shares in the company, valued at $70,979,848.10. This trade represents a 0.60 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Robert Schlossman sold 2,878 shares of the business’s stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $199.15, for a total transaction of $573,153.70. Following 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. Over the last ninety days, insiders sold 199,234 shares of company stock valued at $39,970,790. Corporate insiders own 18.10% of the company’s stock.

Zscaler Stock Down 1.9 %

Zscaler stock opened at $211.55 on Thursday. The company has a market capitalization of $32.73 billion, a PE ratio of -846.20 and a beta of 0.88. Zscaler, Inc. has a 12-month low of $153.45 and a 12-month high of $217.84. The firm’s fifty day moving average is $201.26 and its 200 day moving average is $192.96.

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.