Independent Solutions Wealth Management LLC Sells 98 Shares of Zscaler, Inc. (NASDAQ:ZS)

Independent Solutions Wealth Management LLC lowered its stake in Zscaler, Inc. (NASDAQ:ZS) by 0.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,819 shares of the company’s stock after selling 98 shares during the period. Independent Solutions Wealth Management LLC’s holdings in Zscaler were worth $2,132,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Global X Japan Co. Ltd. grew its holdings in shares of Zscaler by 127.4% during the fourth 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 last quarter. Stonebridge Financial Group LLC bought a new position in Zscaler during the 4th quarter worth approximately $29,000. Prestige Wealth Management Group LLC bought a new position in shares of Zscaler during the 3rd quarter worth approximately $31,000. Versant Capital Management Inc increased its holdings in shares of 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 acquiring an additional 104 shares in the last quarter. Finally, True Wealth Design LLC lifted its holdings in shares of Zscaler by 18,500.0% in 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. Institutional investors own 46.45% of the company’s stock.

Zscaler Price Performance

ZS opened at $203.55 on Friday. The firm has a market capitalization of $31.49 billion, a price-to-earnings ratio of -814.20 and a beta of 0.88. Zscaler, Inc. has a one year low of $153.45 and a one year high of $217.84. The business has a 50 day simple moving average of $199.43 and a two-hundred day simple moving average of $191.81.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on ZS. Rosenblatt Securities raised shares of Zscaler from a “neutral” rating to a “buy” rating and increased their target price for the company from $190.00 to $235.00 in a research report on Thursday, March 6th. The Goldman Sachs Group set a $207.00 target price on Zscaler and gave the stock a “neutral” rating in a research note on Thursday, March 6th. Scotiabank reiterated a “sector outperform” rating and set a $242.00 price target (up previously from $225.00) on shares of Zscaler in a research report on Wednesday, March 5th. BTIG Research set a $252.00 target price on shares of Zscaler and gave the company a “buy” rating in a research note on Thursday, March 6th. Finally, Barclays reiterated an “overweight” rating on shares of Zscaler in a research report on Wednesday, March 5th. Nine equities research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $232.68.

Insider Activity at Zscaler

In related news, CFO Remo Canessa sold 3,721 shares of the company’s stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $199.15, for a total value of $741,037.15. Following the sale, the chief financial officer now directly owns 213,702 shares of the company’s stock, valued at $42,558,753.30. This represents a 1.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Robert Schlossman sold 2,878 shares of the stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $199.15, for a total value of $573,153.70. Following the completion of the transaction, the insider now owns 107,587 shares of the company’s stock, valued at approximately $21,425,951.05. This trade represents a 2.61 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 199,234 shares of company stock worth $39,970,790 over the last quarter. 18.10% of the stock is owned by corporate insiders.

About Zscaler

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.