Wealthfront Advisers LLC Grows Stake in Zscaler, Inc. (NASDAQ:ZS)

Wealthfront Advisers LLC lifted its position in Zscaler, Inc. (NASDAQ:ZS) by 4.1% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 5,780 shares of the company’s stock after purchasing an additional 229 shares during the period. Wealthfront Advisers LLC’s holdings in Zscaler were worth $1,043,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Global X Japan Co. Ltd. lifted its position in Zscaler by 127.4% during the fourth quarter. Global X Japan Co. Ltd. now owns 141 shares of the company’s stock valued at $25,000 after purchasing an additional 79 shares in the last quarter. Stonebridge Financial Group LLC purchased a new position in Zscaler during the fourth quarter valued at $29,000. Prestige Wealth Management Group LLC purchased a new position in Zscaler during the third quarter valued at $31,000. True Wealth Design LLC lifted its position in Zscaler by 18,500.0% during the third quarter. True Wealth Design LLC now owns 186 shares of the company’s stock valued at $32,000 after purchasing an additional 185 shares in the last quarter. Finally, Versant Capital Management Inc lifted its position in Zscaler by 136.8% during the fourth quarter. Versant Capital Management Inc now owns 180 shares of the company’s stock valued at $32,000 after purchasing an additional 104 shares in the last quarter. 46.45% of the stock is currently owned by hedge funds and other institutional investors.

Zscaler Price Performance

Shares of NASDAQ:ZS opened at $197.81 on Friday. Zscaler, Inc. has a 1 year low of $153.45 and a 1 year high of $217.84. The business has a 50 day simple moving average of $198.14 and a two-hundred day simple moving average of $191.61. The firm has a market capitalization of $30.61 billion, a PE ratio of -791.24 and a beta of 0.88.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on ZS. Wells Fargo & Company lifted their target price on Zscaler from $190.00 to $210.00 and gave the company an “equal weight” rating in a research report on Thursday, March 6th. Barclays reissued an “overweight” rating on shares of Zscaler in a report on Wednesday, March 5th. Piper Sandler raised their price target on Zscaler from $215.00 to $235.00 and gave the company an “overweight” rating in a report on Tuesday, December 3rd. Needham & Company LLC reissued a “buy” rating and set a $240.00 price target on shares of Zscaler in a report on Wednesday, March 5th. Finally, Royal Bank of Canada raised their price target on Zscaler from $230.00 to $250.00 and gave the company an “outperform” rating in a report on Thursday, March 6th. Nine equities research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $233.88.

Insider Activity at Zscaler

In related news, CEO Jagtar Singh Chaudhry sold 2,863 shares of the business’s stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $200.32, for a total value of $573,516.16. Following the completion of the sale, the chief executive officer now owns 358,569 shares in the company, valued at approximately $71,828,542.08. The trade was a 0.79 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Syam Nair sold 3,682 shares of the business’s stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $200.32, for a total value of $737,578.24. Following the completion of the sale, the insider now owns 142,866 shares of the company’s stock, valued at $28,618,917.12. The trade was a 2.51 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 10,248 shares of company stock worth $2,052,879. Company insiders own 18.10% of the company’s stock.

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.