Skandinaviska Enskilda Banken AB publ Trims Holdings in Zscaler, Inc. (NASDAQ:ZS)

Skandinaviska Enskilda Banken AB publ trimmed its position in Zscaler, Inc. (NASDAQ:ZS) by 3.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 45,671 shares of the company’s stock after selling 1,851 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Zscaler were worth $8,363,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ZS. Global X Japan Co. Ltd. boosted its stake in Zscaler by 127.4% in the 4th quarter. Global X Japan Co. Ltd. now owns 141 shares of the company’s stock worth $25,000 after purchasing an additional 79 shares during the period. Stonebridge Financial Group LLC bought a new position in Zscaler in the 4th quarter worth approximately $29,000. Prestige Wealth Management Group LLC bought a new position in Zscaler in the 3rd quarter worth approximately $31,000. Versant Capital Management Inc boosted its position in shares of Zscaler by 136.8% during the 4th quarter. Versant Capital Management Inc now owns 180 shares of the company’s stock valued at $32,000 after acquiring an additional 104 shares during the last quarter. Finally, True Wealth Design LLC boosted its position in shares of Zscaler by 18,500.0% during the 3rd quarter. True Wealth Design LLC now owns 186 shares of the company’s stock valued at $32,000 after acquiring an additional 185 shares during the last quarter. 46.45% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Zscaler

In other Zscaler news, CFO Remo Canessa sold 3,703 shares of the company’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 transaction of $741,784.96. Following the transaction, the chief financial officer now owns 220,635 shares in the company, valued at approximately $44,197,603.20. This represents a 1.65 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Syam Nair sold 3,682 shares of the company’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 transaction of $737,578.24. Following the transaction, the insider now owns 142,866 shares in the company, 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. Insiders sold 10,248 shares of company stock valued at $2,052,879 over the last 90 days. Insiders own 18.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Oppenheimer increased their target price on Zscaler from $230.00 to $250.00 and gave the company an “outperform” rating in a research report on Tuesday, December 3rd. Piper Sandler increased their target price on Zscaler from $215.00 to $235.00 and gave the company an “overweight” rating in a research report on Tuesday, December 3rd. Deutsche Bank Aktiengesellschaft raised their price target on Zscaler from $200.00 to $225.00 and gave the stock a “buy” rating in a research report on Tuesday, December 3rd. Jefferies Financial Group lifted their price objective on shares of Zscaler from $225.00 to $245.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Finally, The Goldman Sachs Group set a $207.00 price target on shares of Zscaler and gave the company a “neutral” rating in a report on Thursday, March 6th. Nine research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the stock. Based on data from MarketBeat, Zscaler presently has an average rating of “Moderate Buy” and a consensus price target of $233.88.

Zscaler Stock Up 4.3 %

NASDAQ:ZS opened at $197.81 on Friday. Zscaler, Inc. has a 52 week low of $153.45 and a 52 week high of $217.84. The firm has a 50 day moving average of $198.14 and a 200 day moving average of $191.61. The stock has a market capitalization of $30.61 billion, a price-to-earnings ratio of -791.24 and a beta of 0.88.

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.