Summit Securities Group LLC Invests $27,000 in Zscaler, Inc. (NASDAQ:ZS)

Summit Securities Group LLC bought a new position in Zscaler, Inc. (NASDAQ:ZS) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm bought 150 shares of the company’s stock, valued at approximately $27,000.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Corebridge Financial Inc. lifted its position in shares of Zscaler by 0.5% during the fourth quarter. Corebridge Financial Inc. now owns 11,695 shares of the company’s stock worth $2,110,000 after purchasing an additional 54 shares in the last quarter. Erste Asset Management GmbH grew its holdings in Zscaler by 0.6% during the 4th quarter. Erste Asset Management GmbH now owns 9,780 shares of the company’s stock worth $1,805,000 after acquiring an additional 56 shares in the last quarter. KRS Capital Management LLC increased its position in shares of Zscaler by 1.9% in the 4th quarter. KRS Capital Management LLC now owns 3,261 shares of the company’s stock valued at $588,000 after purchasing an additional 60 shares during the last quarter. Ironwood Investment Management LLC raised its holdings in shares of Zscaler by 1.0% in the 4th quarter. Ironwood Investment Management LLC now owns 6,249 shares of the company’s stock valued at $1,127,000 after purchasing an additional 64 shares in the last quarter. Finally, Smartleaf Asset Management LLC lifted its position in shares of Zscaler by 16.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 482 shares of the company’s stock worth $88,000 after purchasing an additional 69 shares during the last quarter. 46.45% of the stock is currently owned by institutional investors and hedge funds.

Zscaler Stock Down 1.1 %

Shares of ZS opened at $207.14 on Monday. The company has a market capitalization of $32.05 billion, a PE ratio of -828.56 and a beta of 0.88. Zscaler, Inc. has a 52-week low of $153.45 and a 52-week high of $217.84. The company has a 50-day simple moving average of $202.08 and a 200-day simple moving average of $193.89.

Wall Street Analyst Weigh In

ZS has been the subject of a number of recent analyst reports. KeyCorp lifted their price target on Zscaler from $245.00 to $250.00 and gave the stock an “overweight” rating in a report on Tuesday, December 3rd. Morgan Stanley assumed coverage on Zscaler in a research note on Tuesday, March 18th. They set an “equal weight” rating for the company. Guggenheim reissued a “neutral” rating on shares of Zscaler in a report on Tuesday, December 3rd. BTIG Research set a $252.00 target price on shares of Zscaler and gave the company a “buy” rating in a report on Thursday, March 6th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $240.00 price target on shares of Zscaler in a research note on Wednesday, March 5th. Nine equities research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $232.68.

Insider Buying and Selling at Zscaler

In other Zscaler news, CEO Jagtar Singh Chaudhry sold 2,155 shares of the company’s stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $199.15, for a total value of $429,168.25. Following the sale, the chief executive officer now owns 356,414 shares of the company’s stock, valued at $70,979,848.10. This represents a 0.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Robert Schlossman sold 2,878 shares of the stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $199.15, for a total transaction of $573,153.70. Following the completion of the sale, the insider now owns 107,587 shares in the company, valued at $21,425,951.05. This represents a 2.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 199,234 shares of company stock valued at $39,970,790. Corporate insiders own 18.10% of the company’s stock.

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.