Commonwealth Equity Services LLC Reduces Stake in Zscaler, Inc. (NASDAQ:ZS)

Commonwealth Equity Services LLC cut its holdings in shares of Zscaler, Inc. (NASDAQ:ZS) by 3.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 58,450 shares of the company’s stock after selling 1,860 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Zscaler were worth $10,545,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Erste Asset Management GmbH raised its position in Zscaler by 0.6% during the fourth quarter. Erste Asset Management GmbH now owns 9,780 shares of the company’s stock valued at $1,805,000 after acquiring an additional 56 shares in the last quarter. KRS Capital Management LLC grew its stake in shares of Zscaler by 1.9% during the 4th quarter. KRS Capital Management LLC now owns 3,261 shares of the company’s stock worth $588,000 after purchasing an additional 60 shares during the period. Smartleaf Asset Management LLC increased its holdings in shares of Zscaler by 16.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 482 shares of the company’s stock valued at $88,000 after purchasing an additional 69 shares in the last quarter. GAMMA Investing LLC lifted its stake in shares of Zscaler by 18.5% in the 4th quarter. GAMMA Investing LLC now owns 448 shares of the company’s stock valued at $81,000 after purchasing an additional 70 shares during the period. Finally, Avior Wealth Management LLC grew its position in Zscaler by 50.7% during the fourth quarter. Avior Wealth Management LLC now owns 214 shares of the company’s stock valued at $39,000 after buying an additional 72 shares during the period. 46.45% of the stock is currently owned by institutional investors and hedge funds.

Zscaler Trading Up 1.2 %

Zscaler stock opened at $203.95 on Thursday. The stock has a market cap of $31.56 billion, a P/E ratio of -815.80 and a beta of 0.88. The company has a 50-day moving average price of $199.11 and a 200 day moving average price of $191.72. Zscaler, Inc. has a 12-month low of $153.45 and a 12-month high of $217.84.

Analyst Ratings Changes

A number of brokerages have weighed in on ZS. Susquehanna upped their price objective on shares of Zscaler from $210.00 to $225.00 and gave the stock a “positive” rating in a research report on Tuesday, December 3rd. Wedbush increased their price target on Zscaler from $230.00 to $240.00 and gave the stock an “outperform” rating in a research report on Thursday, March 6th. Deutsche Bank Aktiengesellschaft boosted their price objective on Zscaler from $200.00 to $225.00 and gave the company a “buy” rating in a research report on Tuesday, December 3rd. UBS Group increased their target price on Zscaler from $250.00 to $260.00 and gave the company a “buy” rating in a research report on Thursday, March 6th. Finally, KeyCorp boosted their price target on shares of Zscaler from $245.00 to $250.00 and gave the stock an “overweight” rating in a report on Tuesday, December 3rd. Nine investment analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $232.68.

Insider Transactions at Zscaler

In other news, major shareholder Ajay Mangal sold 190,480 shares of the stock in a transaction on 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 directly owns 2,580,210 shares in the company, valued at approximately $517,822,344.90. This represents a 6.87 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 18.10% of the company’s stock.

Zscaler 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.