Covestor Ltd Purchases 82 Shares of Zscaler, Inc. (NASDAQ:ZS)

Covestor Ltd increased its position in Zscaler, Inc. (NASDAQ:ZS) by 15.2% during the 4th quarter, HoldingsChannel.com reports. The fund owned 622 shares of the company’s stock after buying an additional 82 shares during the period. Covestor Ltd’s holdings in Zscaler were worth $112,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Zscaler Price Performance

ZS stock opened at $198.08 on Friday. The stock has a market capitalization of $30.65 billion, a PE ratio of -792.32 and a beta of 1.12. The company has a 50 day moving average price of $200.88 and a 200 day moving average price of $195.31. Zscaler, Inc. has a fifty-two week low of $153.45 and a fifty-two week high of $217.84.

Insider Transactions at Zscaler

In other news, Director Andrew William Fraser Brown sold 10,000 shares of Zscaler stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $206.00, for a total transaction 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. The trade was a 26.87 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Ajay Mangal sold 190,480 shares of the stock in a transaction that occurred 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 owns 2,580,210 shares in the company, valued at $517,822,344.90. This represents a 6.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 209,234 shares of company stock worth $42,030,790 over the last 90 days. 18.10% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

ZS has been the subject of several research reports. Robert W. Baird increased their target price on shares of Zscaler from $240.00 to $250.00 and gave the company an “outperform” rating in a research note on Thursday, March 6th. Bank of America upgraded Zscaler from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $215.00 to $240.00 in a research report on Friday, March 7th. Royal Bank of Canada boosted their price objective on Zscaler from $230.00 to $250.00 and gave the company an “outperform” rating in a research report on Thursday, March 6th. Mizuho raised their target price on Zscaler from $210.00 to $225.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 12th. Finally, Rosenblatt Securities raised shares of Zscaler from a “neutral” rating to a “buy” rating and boosted their price target for the company from $190.00 to $235.00 in a report on Thursday, March 6th. Eight investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $234.94.

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.