Nomura Asset Management Co. Ltd. Lowers Stock Holdings in Zscaler, Inc. (NASDAQ:ZS)

Nomura Asset Management Co. Ltd. cut its position in shares of Zscaler, Inc. (NASDAQ:ZS) by 3.2% during the 4th quarter, Holdings Channel.com reports. The firm owned 368,233 shares of the company’s stock after selling 12,230 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Zscaler were worth $66,433,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of ZS. Global X Japan Co. Ltd. lifted its stake in Zscaler by 127.4% in the fourth quarter. Global X Japan Co. Ltd. now owns 141 shares of the company’s stock worth $25,000 after purchasing an additional 79 shares during the last quarter. Stonebridge Financial Group LLC bought a new stake in shares of Zscaler in the 4th quarter valued at about $29,000. Prestige Wealth Management Group LLC bought a new stake in shares of Zscaler in the 3rd quarter valued at about $31,000. True Wealth Design LLC boosted its holdings in Zscaler by 18,500.0% during the 3rd quarter. True Wealth Design LLC now owns 186 shares of the company’s stock valued at $32,000 after acquiring an additional 185 shares during the period. Finally, Versant Capital Management Inc grew its position in Zscaler by 136.8% during the 4th 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. 46.45% of the stock is owned by hedge funds and other institutional investors.

Zscaler Price Performance

Shares of Zscaler stock opened at $209.45 on Friday. Zscaler, Inc. has a 1 year low of $153.45 and a 1 year high of $217.84. The firm’s 50-day moving average is $201.69 and its 200 day moving average is $193.07. The stock has a market cap of $32.41 billion, a price-to-earnings ratio of -837.80 and a beta of 0.88.

Insiders Place Their Bets

In related news, insider Robert Schlossman sold 2,878 shares of Zscaler stock in a transaction dated Tuesday, March 18th. The stock was 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 directly owns 107,587 shares in the company, valued at approximately $21,425,951.05. This trade represents a 2.61 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Ajay Mangal sold 190,480 shares of the company’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 199,234 shares of company stock valued at $39,970,790. Insiders own 18.10% of the company’s stock.

Analyst Ratings Changes

ZS has been the subject of a number of analyst reports. JPMorgan Chase & Co. increased their price objective on Zscaler from $240.00 to $250.00 and gave the company an “overweight” rating in a research note on Thursday, March 6th. Rosenblatt Securities raised shares of Zscaler from a “neutral” rating to a “buy” rating and raised their price target for the stock from $190.00 to $235.00 in a report on Thursday, March 6th. KeyCorp upped their price objective on shares of Zscaler from $245.00 to $250.00 and gave the company an “overweight” rating in a research note on Tuesday, December 3rd. BTIG Research set a $252.00 target price on Zscaler and gave the stock a “buy” rating in a research note on Thursday, March 6th. Finally, Citigroup reaffirmed a “buy” rating and set a $240.00 price target (up previously from $235.00) on shares of Zscaler in a research report on Wednesday, March 5th. Nine research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. According to MarketBeat.com, Zscaler has an average rating of “Moderate Buy” and an average price target of $232.68.

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.