Zscaler, Inc. (NASDAQ:ZS) Position Increased by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC raised its holdings in shares of Zscaler, Inc. (NASDAQ:ZS) by 7.0% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 48,775 shares of the company’s stock after buying an additional 3,191 shares during the period. Sequoia Financial Advisors LLC’s holdings in Zscaler were worth $8,799,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. HighTower Advisors LLC boosted its holdings in Zscaler by 12.1% during the fourth quarter. HighTower Advisors LLC now owns 72,391 shares of the company’s stock worth $13,060,000 after buying an additional 7,817 shares in the last quarter. Wealthfront Advisers LLC boosted its stake in Zscaler by 4.1% in the 4th quarter. Wealthfront Advisers LLC now owns 5,780 shares of the company’s stock worth $1,043,000 after purchasing an additional 229 shares during the period. Clare Market Investments LLC acquired a new position in Zscaler in the 4th quarter worth approximately $4,905,000. SLT Holdings LLC acquired a new position in Zscaler in the 4th quarter worth approximately $1,078,000. Finally, AlphaQuest LLC acquired a new position in Zscaler in the 4th quarter worth approximately $472,000. 46.45% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, CFO Remo Canessa sold 3,703 shares of the business’s stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $200.32, for a total transaction of $741,784.96. Following the transaction, the chief financial officer now owns 220,635 shares in the company, valued at approximately $44,197,603.20. The trade was a 1.65 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Syam Nair sold 3,682 shares of the business’s stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $200.32, for a total transaction of $737,578.24. Following the transaction, the insider now owns 142,866 shares in the company, valued at approximately $28,618,917.12. The trade was a 2.51 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 10,248 shares of company stock worth $2,052,879 in the last quarter. 18.10% of the stock is currently owned by company insiders.

Zscaler Price Performance

Shares of ZS opened at $197.79 on Thursday. The company has a market capitalization of $30.35 billion, a PE ratio of -791.16 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 company’s fifty day moving average price is $197.74 and its 200 day moving average price is $191.66.

Analysts Set New Price Targets

ZS has been the subject of a number of recent analyst reports. KeyCorp raised their price objective on shares of Zscaler from $245.00 to $250.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 3rd. UBS Group raised their price objective on shares of Zscaler from $250.00 to $260.00 and gave the stock a “buy” rating in a research note on Thursday, March 6th. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Zscaler in a research note on Thursday, March 6th. Needham & Company LLC reaffirmed a “buy” rating and issued a $240.00 price objective on shares of Zscaler in a research note on Wednesday, March 5th. Finally, Royal Bank of Canada raised their price objective on shares of Zscaler from $230.00 to $250.00 and gave the stock an “outperform” rating in a research note on Thursday, March 6th. Nine research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target 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.