Raymond James Financial Inc. Takes Position in Zscaler, Inc. (NASDAQ:ZS)

Raymond James Financial Inc. purchased a new position in shares of Zscaler, Inc. (NASDAQ:ZS) during the 4th quarter, Holdings Channel reports. The institutional investor purchased 155,601 shares of the company’s stock, valued at approximately $28,072,000.

A number of other hedge funds have also bought and sold shares of ZS. Global X Japan Co. Ltd. raised its stake in Zscaler by 127.4% during the fourth quarter. Global X Japan Co. Ltd. now owns 141 shares of the company’s stock worth $25,000 after acquiring an additional 79 shares during the period. Summit Securities Group LLC acquired a new stake in shares of Zscaler during the 4th quarter worth approximately $27,000. Stonebridge Financial Group LLC acquired a new stake in shares of Zscaler during the 4th quarter worth approximately $29,000. Versant Capital Management Inc lifted its holdings in shares of Zscaler by 136.8% in the 4th quarter. Versant Capital Management Inc now owns 180 shares of the company’s stock worth $32,000 after purchasing an additional 104 shares during the last quarter. Finally, Modus Advisors LLC acquired a new position in Zscaler during the 4th quarter valued at approximately $36,000. 46.45% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. JPMorgan Chase & Co. raised their target price on Zscaler from $240.00 to $250.00 and gave the company an “overweight” rating in a research note on Thursday, March 6th. Wells Fargo & Company lifted their price objective on shares of Zscaler from $190.00 to $210.00 and gave the company an “equal weight” rating in a research report on Thursday, March 6th. Bank of America upgraded shares of Zscaler from a “neutral” rating to a “buy” rating and upped their target price for the stock from $215.00 to $240.00 in a research report on Friday, March 7th. Stephens assumed coverage on Zscaler in a report on Tuesday, April 1st. They set an “overweight” rating and a $255.00 price target on the stock. Finally, Royal Bank of Canada increased their price objective on Zscaler from $230.00 to $250.00 and gave the stock an “outperform” rating in a report on Thursday, March 6th. Eight 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 stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $234.77.

Insider Buying and Selling at Zscaler

In related news, Director Andrew William Fraser Brown sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $206.00, for a total value of $2,060,000.00. Following the transaction, the director now directly owns 27,216 shares of the company’s stock, valued at approximately $5,606,496. This trade represents a 26.87 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Robert Schlossman sold 2,878 shares of the company’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 $573,153.70. Following the sale, the insider now directly owns 107,587 shares of the company’s stock, valued at $21,425,951.05. The trade was a 2.61 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 209,234 shares of company stock worth $42,030,790 over the last ninety days. 18.10% of the stock is currently owned by insiders.

Zscaler Price Performance

Shares of Zscaler stock opened at $201.09 on Friday. The stock has a 50-day simple moving average of $200.50 and a 200-day simple moving average of $195.99. Zscaler, Inc. has a 52-week low of $153.45 and a 52-week high of $217.84. The firm has a market cap of $31.11 billion, a price-to-earnings ratio of -804.36 and a beta of 1.12.

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.