Zscaler, Inc. (NASDAQ:ZS) Shares Bought by Corient Private Wealth LLC

Corient Private Wealth LLC raised its position in Zscaler, Inc. (NASDAQ:ZS) by 8.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 18,991 shares of the company’s stock after buying an additional 1,429 shares during the period. Corient Private Wealth LLC’s holdings in Zscaler were worth $3,426,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of ZS. Caprock Group LLC acquired a new stake in Zscaler in the 3rd quarter worth about $210,000. PNC Financial Services Group Inc. boosted its holdings in Zscaler by 4.4% in the 3rd quarter. PNC Financial Services Group Inc. now owns 7,184 shares of the company’s stock worth $1,228,000 after buying an additional 306 shares during the last quarter. Commerce Bank lifted its stake in Zscaler by 8.9% in the 3rd quarter. Commerce Bank now owns 1,564 shares of the company’s stock worth $267,000 after purchasing an additional 128 shares in the last quarter. Advisors Asset Management Inc. lifted its stake in Zscaler by 50.1% in the 3rd quarter. Advisors Asset Management Inc. now owns 4,082 shares of the company’s stock worth $698,000 after purchasing an additional 1,363 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Zscaler by 4.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 355,070 shares of the company’s stock worth $60,696,000 after purchasing an additional 16,634 shares in the last quarter. 46.45% of the stock is currently owned by institutional investors and hedge funds.

Zscaler Stock Up 0.8 %

NASDAQ:ZS opened at $205.20 on Friday. The company has a fifty day simple moving average of $199.74 and a two-hundred day simple moving average of $191.83. The company has a market cap of $31.75 billion, a price-to-earnings ratio of -820.80 and a beta of 0.88. Zscaler, Inc. has a 52 week low of $153.45 and a 52 week high of $217.84.

Insider Buying and Selling

In related news, CFO Remo Canessa sold 3,721 shares of the business’s stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $199.15, for a total transaction of $741,037.15. Following the completion of the transaction, the chief financial officer now owns 213,702 shares in the company, valued at approximately $42,558,753.30. The trade was a 1.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Robert Schlossman sold 2,878 shares of the company’s stock in a transaction 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 transaction, the insider now owns 107,587 shares of the company’s stock, valued at $21,425,951.05. This represents a 2.61 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 199,234 shares of company stock worth $39,970,790. Corporate insiders own 18.10% of the company’s stock.

Analyst Ratings Changes

ZS has been the topic of a number of research reports. Barclays reissued an “overweight” rating on shares of Zscaler in a research note on Wednesday, March 5th. Canaccord Genuity Group raised their target price on shares of Zscaler from $220.00 to $230.00 and gave the stock a “buy” rating in a research note on Tuesday, December 3rd. Sanford C. Bernstein reissued an “outperform” rating and issued a $244.00 target price on shares of Zscaler in a research note on Thursday, March 6th. Citigroup reissued a “buy” rating and issued a $240.00 target price (up from $235.00) on shares of Zscaler in a research note on Wednesday, March 5th. Finally, Morgan Stanley initiated coverage on shares of Zscaler in a research report on Tuesday, March 18th. They set an “equal weight” rating on the stock. Nine equities research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $232.68.

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.