Vanguard Group Inc. Sells 17,409 Shares of Zscaler, Inc. (NASDAQ:ZS)

Vanguard Group Inc. lowered its holdings in Zscaler, Inc. (NASDAQ:ZS) by 0.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,596,472 shares of the company’s stock after selling 17,409 shares during the quarter. Vanguard Group Inc. owned 6.25% of Zscaler worth $1,731,300,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of ZS. Fox Run Management L.L.C. purchased a new stake in Zscaler in the fourth quarter worth approximately $1,671,000. KLP Kapitalforvaltning AS purchased a new stake in Zscaler during the 4th quarter valued at $5,845,000. Vestor Capital LLC purchased a new position in shares of Zscaler in the 4th quarter worth $2,504,000. Quantbot Technologies LP bought a new stake in shares of Zscaler in the fourth quarter worth $336,000. Finally, Virtu Financial LLC purchased a new stake in Zscaler during the fourth quarter valued at $3,145,000. 46.45% of the stock is owned by institutional investors.

Insider Activity at Zscaler

In other news, CEO Jagtar Singh Chaudhry sold 2,155 shares of the firm’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 completion of the sale, the chief executive officer now owns 356,414 shares in the company, valued at approximately $70,979,848.10. This trade represents a 0.60 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Robert Schlossman sold 2,878 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 transaction of $573,153.70. Following the transaction, the insider now owns 107,587 shares in the company, valued at $21,425,951.05. The trade was a 2.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 199,234 shares of company stock valued at $39,970,790 over the last 90 days. 18.10% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have issued reports on ZS. JPMorgan Chase & Co. boosted their price target on Zscaler from $240.00 to $250.00 and gave the company an “overweight” rating in a research note on Thursday, March 6th. BMO Capital Markets upped their target price on shares of Zscaler from $222.00 to $233.00 and gave the company an “outperform” rating in a report on Thursday, March 6th. Citigroup reiterated a “buy” rating and set a $240.00 price target (up previously from $235.00) on shares of Zscaler in a research note on Wednesday, March 5th. Mizuho upped their price objective on Zscaler from $210.00 to $225.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 12th. Finally, Scotiabank reiterated a “sector outperform” rating and set a $242.00 target price (up from $225.00) on shares of Zscaler in a research report on Wednesday, March 5th. Nine investment analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. According to data from MarketBeat.com, Zscaler has an average rating of “Moderate Buy” and a consensus price target of $232.68.

Zscaler Stock Performance

NASDAQ ZS opened at $211.55 on Thursday. The stock has a 50 day moving average price of $201.26 and a 200-day moving average price of $192.96. Zscaler, Inc. has a one year low of $153.45 and a one year high of $217.84. The company has a market capitalization of $32.73 billion, a P/E ratio of -846.20 and a beta of 0.88.

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.