National Bank of Canada FI Sells 34,243 Shares of Zscaler, Inc. (NASDAQ:ZS)

National Bank of Canada FI lessened its holdings in Zscaler, Inc. (NASDAQ:ZS) by 49.1% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 35,451 shares of the company’s stock after selling 34,243 shares during the quarter. National Bank of Canada FI’s holdings in Zscaler were worth $6,396,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Global X Japan Co. Ltd. grew its position in Zscaler by 127.4% during the 4th 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 during the last quarter. Summit Securities Group LLC bought a new position in shares of Zscaler in the fourth quarter worth approximately $27,000. Stonebridge Financial Group LLC purchased a new stake in shares of Zscaler during the fourth quarter valued at approximately $29,000. Prestige Wealth Management Group LLC bought a new stake in shares of Zscaler during the third quarter valued at approximately $31,000. Finally, Versant Capital Management Inc raised its holdings in Zscaler by 136.8% in the 4th quarter. Versant Capital Management Inc now owns 180 shares of the company’s stock worth $32,000 after acquiring an additional 104 shares during the last quarter. Institutional investors own 46.45% of the company’s stock.

Insider Buying and Selling at Zscaler

In other Zscaler news, major shareholder Ajay Mangal sold 190,480 shares of Zscaler stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $200.69, for a total value of $38,227,431.20. Following the sale, the insider now owns 2,580,210 shares of the company’s stock, valued at $517,822,344.90. The trade was a 6.87 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 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 stock was sold at an average price of $206.00, for a total value of $2,060,000.00. Following the sale, the director now directly owns 27,216 shares in the company, valued at $5,606,496. This trade represents a 26.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 209,234 shares of company stock worth $42,030,790. Insiders own 18.10% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on the company. Morgan Stanley initiated coverage on Zscaler in a research note on Tuesday, March 18th. They set an “equal weight” rating on the stock. Rosenblatt Securities raised Zscaler from a “neutral” rating to a “buy” rating and increased their price objective for the company from $190.00 to $235.00 in a research report on Thursday, March 6th. Scotiabank reissued a “sector outperform” rating and issued a $242.00 target price (up previously from $225.00) on shares of Zscaler in a research report on Wednesday, March 5th. Wedbush raised their price target on shares of Zscaler from $230.00 to $240.00 and gave the company an “outperform” rating in a report on Thursday, March 6th. Finally, Citigroup reiterated a “buy” rating and issued a $240.00 price target (up from $235.00) on shares of Zscaler in a research note on Wednesday, March 5th. Eight equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $234.94.

Zscaler Price Performance

Zscaler stock opened at $174.67 on Monday. The firm’s 50 day moving average price is $202.38 and its 200-day moving average price is $194.78. Zscaler, Inc. has a 1 year low of $153.45 and a 1 year high of $217.84. The stock has a market cap of $27.03 billion, a P/E ratio of -698.68 and a beta of 1.12.

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.