Zscaler, Inc. (NASDAQ:ZS) Shares Purchased by HighTower Advisors LLC

HighTower Advisors LLC increased its holdings in shares of Zscaler, Inc. (NASDAQ:ZS) by 12.1% in the fourth quarter, Holdings Channel reports. The firm owned 72,391 shares of the company’s stock after buying an additional 7,817 shares during the period. HighTower Advisors LLC’s holdings in Zscaler were worth $13,060,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ZS. Global X Japan Co. Ltd. grew its position in Zscaler by 127.4% in the 4th 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 in the last quarter. Stonebridge Financial Group LLC acquired a new position in Zscaler in the 4th quarter valued at about $29,000. Prestige Wealth Management Group LLC acquired a new position in Zscaler in the 3rd quarter valued at about $31,000. Versant Capital Management Inc grew its position 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 acquiring an additional 104 shares in the last quarter. Finally, True Wealth Design LLC boosted its stake in shares of Zscaler by 18,500.0% in the 3rd quarter. True Wealth Design LLC now owns 186 shares of the company’s stock valued at $32,000 after buying an additional 185 shares during the period. 46.45% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Syam Nair sold 3,682 shares of the company’s stock in a transaction on Tuesday, December 17th. The stock was 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 of the company’s stock, valued at $28,618,917.12. This represents a 2.51 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Remo Canessa sold 3,703 shares of the company’s stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $200.32, for a total value of $741,784.96. Following the transaction, the chief financial officer now directly owns 220,635 shares in the company, valued at $44,197,603.20. This represents a 1.65 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 10,248 shares of company stock valued at $2,052,879. Company insiders own 18.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on ZS. JPMorgan Chase & Co. lifted their price objective on Zscaler from $240.00 to $250.00 and gave the company an “overweight” rating in a research note on Thursday, March 6th. Morgan Stanley decreased their price objective on Zscaler from $215.00 to $205.00 and set an “equal weight” rating for the company in a research note on Tuesday, December 3rd. Jefferies Financial Group lifted their price objective on Zscaler from $225.00 to $245.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Needham & Company LLC reiterated a “buy” rating and issued a $240.00 price objective on shares of Zscaler in a research note on Wednesday, March 5th. Finally, Wedbush lifted their price objective on Zscaler from $230.00 to $240.00 and gave the company an “outperform” rating in a research note on Thursday, March 6th. Nine analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $233.88.

Zscaler Trading Up 4.3 %

NASDAQ:ZS opened at $197.81 on Monday. The firm has a market cap of $30.61 billion, a P/E ratio of -791.24 and a beta of 0.88. The stock’s 50 day simple moving average is $198.14 and its 200-day simple moving average is $191.59. Zscaler, Inc. has a 12-month low of $153.45 and a 12-month high of $217.84.

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.