True Wealth Design LLC Acquires 224 Shares of Zscaler, Inc. (NASDAQ:ZS)

True Wealth Design LLC grew its holdings in Zscaler, Inc. (NASDAQ:ZS) by 120.4% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 410 shares of the company’s stock after acquiring an additional 224 shares during the period. True Wealth Design LLC’s holdings in Zscaler were worth $74,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in ZS. Hennion & Walsh Asset Management Inc. increased its position in shares of Zscaler by 10.5% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 12,304 shares of the company’s stock worth $2,220,000 after purchasing an additional 1,169 shares in the last quarter. Wealthcare Advisory Partners LLC grew its position in Zscaler by 88.9% in the fourth quarter. Wealthcare Advisory Partners LLC now owns 4,470 shares of the company’s stock valued at $806,000 after purchasing an additional 2,104 shares in the last quarter. Avanza Fonder AB bought a new position in Zscaler in the fourth quarter valued at $1,211,000. Merit Financial Group LLC bought a new position in Zscaler in the fourth quarter valued at $787,000. Finally, Shelton Wealth Management LLC grew its position in Zscaler by 2.8% in the fourth quarter. Shelton Wealth Management LLC now owns 6,317 shares of the company’s stock valued at $1,140,000 after purchasing an additional 171 shares in the last quarter. 46.45% of the stock is owned by institutional investors.

Analyst Ratings Changes

ZS has been the topic of a number of recent analyst reports. BTIG Research set a $252.00 target price on shares of Zscaler and gave the stock a “buy” rating in a report on Thursday, March 6th. BNP Paribas upgraded shares of Zscaler from a “neutral” rating to an “outperform” rating and set a $260.00 price target on the stock in a research note on Monday, April 28th. Mizuho upped their price target on shares of Zscaler from $220.00 to $250.00 and gave the company a “neutral” rating in a research note on Thursday. Citigroup reaffirmed a “buy” rating and set a $240.00 price objective (up previously from $235.00) on shares of Zscaler in a research report on Wednesday, March 5th. Finally, Stifel Nicolaus upped their price objective on shares of Zscaler from $235.00 to $270.00 and gave the stock a “buy” rating in a research report on Friday. Eight research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $238.53.

Zscaler Price Performance

NASDAQ ZS opened at $251.50 on Friday. The stock has a market capitalization of $38.91 billion, a price-to-earnings ratio of -1,006.00 and a beta of 1.14. Zscaler, Inc. has a one year low of $153.45 and a one year high of $253.59. The business’s fifty day moving average is $210.17 and its 200-day moving average is $202.08.

Insider Activity at Zscaler

In other news, CEO Jagtar Singh Chaudhry sold 2,155 shares of the business’s stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $199.15, for a total transaction of $429,168.25. Following the completion of the transaction, the chief executive officer now owns 356,414 shares of the company’s stock, valued at approximately $70,979,848.10. The trade was a 0.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Andrew William Fraser Brown sold 10,000 shares of the business’s stock in a transaction dated 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 $5,606,496. The trade was a 26.87% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 209,234 shares of company stock worth $42,030,790. Company insiders own 18.10% of the company’s stock.

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.