Zscaler, Inc. (NASDAQ:ZS) Shares Bought by TRUE Private Wealth Advisors

TRUE Private Wealth Advisors increased its holdings in Zscaler, Inc. (NASDAQ:ZS) by 5.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,961 shares of the company’s stock after purchasing an additional 108 shares during the quarter. TRUE Private Wealth Advisors’ holdings in Zscaler were worth $354,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Pictet Asset Management Holding SA grew its position in Zscaler by 25.8% during the 4th quarter. Pictet Asset Management Holding SA now owns 1,618,176 shares of the company’s stock worth $291,935,000 after purchasing an additional 332,307 shares in the last quarter. DnB Asset Management AS grew its holdings in shares of Zscaler by 66.8% during the fourth quarter. DnB Asset Management AS now owns 667,383 shares of the company’s stock valued at $120,403,000 after buying an additional 267,162 shares in the last quarter. Artisan Partners Limited Partnership raised its position in Zscaler by 30.9% during 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 during the period. Norges Bank purchased a new stake in Zscaler in the 4th quarter worth about $32,158,000. Finally, Raymond James Financial Inc. acquired a new stake in Zscaler during the 4th quarter worth about $28,072,000. 46.45% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, major shareholder Ajay Mangal sold 190,480 shares of Zscaler stock in a transaction dated Monday, March 17th. The stock was 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 owns 2,580,210 shares in the company, valued at approximately $517,822,344.90. This trade represents a 6.87 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Andrew William Fraser Brown sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $206.00, for a total value of $2,060,000.00. Following the completion of the sale, the director now owns 27,216 shares in the company, valued at $5,606,496. This represents a 26.87 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 209,234 shares of company stock worth $42,030,790. Corporate insiders own 18.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on ZS shares. Bank of America raised shares of Zscaler from a “neutral” rating to a “buy” rating and increased their price target for the stock from $215.00 to $240.00 in a research report on Friday, March 7th. Barclays reissued an “overweight” rating on shares of Zscaler in a research note on Wednesday, March 5th. JPMorgan Chase & Co. upped their price target on shares of Zscaler from $240.00 to $250.00 and gave the stock an “overweight” rating in a research note on Thursday, March 6th. BMO Capital Markets lifted their price objective on Zscaler from $222.00 to $233.00 and gave the company an “outperform” rating in a research report on Thursday, March 6th. Finally, The Goldman Sachs Group set a $207.00 price target on Zscaler and gave the stock a “neutral” rating in a research note on Thursday, March 6th. Eight research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Zscaler has an average rating of “Moderate Buy” and an average target price of $234.94.

Zscaler Stock Down 1.7 %

Shares of ZS opened at $177.04 on Wednesday. The company has a 50 day moving average of $201.11 and a 200-day moving average of $194.74. The stock has a market capitalization of $27.39 billion, a P/E ratio of -708.16 and a beta of 1.12. Zscaler, Inc. has a twelve month low of $153.45 and a twelve month high of $217.84.

About Zscaler

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.