Cibc World Markets Corp Sells 1,058 Shares of Zscaler, Inc. (NASDAQ:ZS)

Cibc World Markets Corp reduced its stake in shares of Zscaler, Inc. (NASDAQ:ZS) by 12.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,539 shares of the company’s stock after selling 1,058 shares during the quarter. Cibc World Markets Corp’s holdings in Zscaler were worth $1,360,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Champlain Investment Partners LLC lifted its holdings in shares of Zscaler by 28.2% in the 3rd quarter. Champlain Investment Partners LLC now owns 1,289,350 shares of the company’s stock worth $220,401,000 after acquiring an additional 283,540 shares during the last quarter. Raymond James Financial Inc. bought a new stake in Zscaler in the fourth quarter worth about $28,072,000. Westfield Capital Management Co. LP boosted its position in shares of Zscaler by 33.8% during the third quarter. Westfield Capital Management Co. LP now owns 399,516 shares of the company’s stock valued at $68,293,000 after buying an additional 100,814 shares during the period. Assenagon Asset Management S.A. grew its stake in shares of Zscaler by 59.7% during the fourth quarter. Assenagon Asset Management S.A. now owns 190,794 shares of the company’s stock valued at $34,421,000 after buying an additional 71,297 shares during the last quarter. Finally, Thematics Asset Management raised its holdings in shares of Zscaler by 88.5% in the third quarter. Thematics Asset Management now owns 147,000 shares of the company’s stock worth $25,128,000 after buying an additional 69,000 shares during the period. 46.45% of the stock is currently owned by hedge funds and other institutional investors.

Zscaler Price Performance

NASDAQ:ZS opened at $205.20 on Friday. The company’s fifty day moving average price is $199.74 and its 200-day moving average price is $191.84. Zscaler, Inc. has a 1-year low of $153.45 and a 1-year high of $217.84. The firm has a market capitalization of $31.75 billion, a P/E ratio of -820.80 and a beta of 0.88.

Insiders Place Their Bets

In related news, CEO Jagtar Singh Chaudhry sold 2,155 shares of the stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $199.15, for a total transaction of $429,168.25. Following the sale, the chief executive officer now directly owns 356,414 shares of the company’s stock, valued at approximately $70,979,848.10. This represents a 0.60 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, major shareholder Ajay Mangal sold 190,480 shares of Zscaler stock in a transaction on 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 completion of the transaction, the insider now directly owns 2,580,210 shares of the company’s stock, valued at $517,822,344.90. The trade was a 6.87 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 199,234 shares of company stock valued at $39,970,790. Company insiders own 18.10% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on ZS. UBS Group boosted their price objective on Zscaler from $250.00 to $260.00 and gave the company a “buy” rating in a report on Thursday, March 6th. Jefferies Financial Group boosted their price target on Zscaler from $225.00 to $245.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Royal Bank of Canada lifted their price objective on Zscaler from $230.00 to $250.00 and gave the company an “outperform” rating in a report on Thursday, March 6th. Citigroup reiterated a “buy” rating and set a $240.00 target price (up from $235.00) on shares of Zscaler in a report on Wednesday, March 5th. Finally, Loop Capital reduced 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. Nine research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $232.68.

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.