Raymond James Financial Inc. Invests $28.07 Million in Zscaler, Inc. (NASDAQ:ZS)

Raymond James Financial Inc. acquired a new stake in Zscaler, Inc. (NASDAQ:ZS) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 155,601 shares of the company’s stock, valued at approximately $28,072,000. Raymond James Financial Inc. owned about 0.10% of Zscaler at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Champlain Investment Partners LLC grew its position in shares of Zscaler by 28.2% during the 3rd quarter. Champlain Investment Partners LLC now owns 1,289,350 shares of the company’s stock worth $220,401,000 after buying an additional 283,540 shares during the period. Westfield Capital Management Co. LP grew its position in shares of Zscaler by 33.8% during the 3rd quarter. Westfield Capital Management Co. LP now owns 399,516 shares of the company’s stock worth $68,293,000 after buying an additional 100,814 shares during the period. Assenagon Asset Management S.A. grew its position in shares of Zscaler by 59.7% during the 4th quarter. Assenagon Asset Management S.A. now owns 190,794 shares of the company’s stock worth $34,421,000 after buying an additional 71,297 shares during the period. Thematics Asset Management grew its position in shares of Zscaler by 88.5% during the 3rd quarter. Thematics Asset Management now owns 147,000 shares of the company’s stock worth $25,128,000 after buying an additional 69,000 shares during the period. Finally, Geode Capital Management LLC grew its position in shares of Zscaler by 3.9% during the 3rd quarter. Geode Capital Management LLC now owns 1,625,861 shares of the company’s stock worth $277,327,000 after buying an additional 60,414 shares during the period. Institutional investors own 46.45% of the company’s stock.

Zscaler Price Performance

NASDAQ ZS opened at $197.81 on Friday. The business’s fifty day moving average is $198.14 and its 200-day moving average is $191.64. Zscaler, Inc. has a one year low of $153.45 and a one year high of $217.84. The stock has a market capitalization of $30.61 billion, a price-to-earnings ratio of -791.24 and a beta of 0.88.

Analyst Upgrades and Downgrades

Several analysts have recently commented on ZS shares. BTIG Research set a $252.00 price objective on shares of Zscaler and gave the stock a “buy” rating in a research report on Thursday, March 6th. Wedbush increased their target price on Zscaler from $230.00 to $240.00 and gave the stock an “outperform” rating in a report on Thursday, March 6th. Needham & Company LLC reiterated a “buy” rating and issued a $240.00 target price on shares of Zscaler in a report on Wednesday, March 5th. Canaccord Genuity Group increased their target price on Zscaler from $220.00 to $230.00 and gave the stock a “buy” rating in a report on Tuesday, December 3rd. Finally, Scotiabank reiterated a “sector outperform” rating and issued a $242.00 target price (up from $225.00) on shares of Zscaler in a report on Wednesday, March 5th. Nine analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $233.88.

Insider Buying and Selling

In related news, CFO Remo Canessa sold 3,703 shares of Zscaler stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $200.32, for a total value of $741,784.96. Following the completion of the sale, the chief financial officer now owns 220,635 shares of the company’s stock, valued at approximately $44,197,603.20. This trade represents a 1.65 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Jagtar Singh Chaudhry sold 2,863 shares of Zscaler stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $200.32, for a total value of $573,516.16. Following the transaction, the chief executive officer now directly owns 358,569 shares of the company’s stock, valued at $71,828,542.08. The trade was a 0.79 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 10,248 shares of company stock valued at $2,052,879. 18.10% of the stock is owned by 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.