Rakuten Securities Inc. Sells 793 Shares of Zscaler, Inc. (NASDAQ:ZS)

Rakuten Securities Inc. cut its stake in Zscaler, Inc. (NASDAQ:ZS) by 41.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,134 shares of the company’s stock after selling 793 shares during the period. Rakuten Securities Inc.’s holdings in Zscaler were worth $205,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of ZS. Global X Japan Co. Ltd. grew its holdings in shares of Zscaler by 127.4% during the 4th quarter. Global X Japan Co. Ltd. now owns 141 shares of the company’s stock valued at $25,000 after purchasing an additional 79 shares during the last quarter. Stonebridge Financial Group LLC bought a new stake in shares of Zscaler in the 4th quarter valued at $29,000. Prestige Wealth Management Group LLC acquired a new stake in Zscaler during the 3rd quarter worth about $31,000. True Wealth Design LLC lifted its stake in 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 buying an additional 185 shares during the period. Finally, Versant Capital Management Inc boosted its stake in Zscaler by 136.8% during the fourth quarter. Versant Capital Management Inc now owns 180 shares of the company’s stock worth $32,000 after acquiring an additional 104 shares in the last quarter. 46.45% of the stock is owned by institutional investors.

Zscaler Trading Up 2.4 %

Zscaler stock opened at $199.36 on Wednesday. The company has a fifty day simple moving average of $197.39 and a 200 day simple moving average of $191.62. Zscaler, Inc. has a 1-year low of $153.45 and a 1-year high of $217.84. The company has a market cap of $30.59 billion, a P/E ratio of -797.44 and a beta of 0.88.

Insider Buying and Selling

In related news, insider Syam Nair sold 3,682 shares of Zscaler stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 142,866 shares of the company’s stock, valued at approximately $28,618,917.12. This trade represents a 2.51 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Remo Canessa sold 3,703 shares of Zscaler 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 sale, the chief financial officer now directly owns 220,635 shares of the company’s stock, valued at $44,197,603.20. This represents a 1.65 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 10,248 shares of company stock valued at $2,052,879. 18.10% of the stock is owned by insiders.

Analysts Set New Price Targets

ZS has been the topic of several recent research reports. Scotiabank reaffirmed a “sector outperform” rating and issued a $242.00 price target (up previously from $225.00) on shares of Zscaler in a research report on Wednesday, March 5th. Barclays reaffirmed an “overweight” rating on shares of Zscaler in a report on Wednesday, March 5th. Susquehanna boosted their price target on shares of Zscaler from $210.00 to $225.00 and gave the company a “positive” rating in a research report on Tuesday, December 3rd. BMO Capital Markets increased their price objective on Zscaler from $222.00 to $233.00 and gave the stock an “outperform” rating in a report on Thursday, March 6th. Finally, Rosenblatt Securities upgraded Zscaler from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $190.00 to $235.00 in a research report on Thursday, March 6th. Nine research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $233.88.

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.