Zscaler, Inc. (NASDAQ:ZS) Shares Acquired by Covestor Ltd

Covestor Ltd boosted its stake in Zscaler, Inc. (NASDAQ:ZS) by 15.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 622 shares of the company’s stock after buying an additional 82 shares during the period. Covestor Ltd’s holdings in Zscaler were worth $112,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Geode Capital Management LLC grew its holdings in Zscaler by 2.0% in the 4th quarter. Geode Capital Management LLC now owns 1,658,406 shares of the company’s stock worth $298,710,000 after buying an additional 32,545 shares in the last quarter. Pictet Asset Management Holding SA boosted its position in Zscaler by 25.8% during the 4th quarter. Pictet Asset Management Holding SA now owns 1,618,176 shares of the company’s stock worth $291,935,000 after acquiring an additional 332,307 shares during the period. Artisan Partners Limited Partnership grew its stake in shares of Zscaler by 30.9% in the fourth quarter. Artisan Partners Limited Partnership now owns 868,795 shares of the company’s stock worth $156,739,000 after purchasing an additional 204,996 shares in the last quarter. DnB Asset Management AS increased its holdings in shares of Zscaler by 66.8% during the fourth quarter. DnB Asset Management AS now owns 667,383 shares of the company’s stock valued at $120,403,000 after purchasing an additional 267,162 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in shares of Zscaler by 3.2% during the fourth quarter. Bank of New York Mellon Corp now owns 539,113 shares of the company’s stock valued at $97,261,000 after purchasing an additional 16,742 shares in the last quarter. 46.45% of the stock is currently owned by institutional investors.

Zscaler Stock Up 1.4 %

Zscaler stock opened at $198.08 on Friday. Zscaler, Inc. has a 12 month low of $153.45 and a 12 month high of $217.84. The company’s fifty day simple moving average is $200.88 and its 200-day simple moving average is $195.31. The stock has a market cap of $30.65 billion, a P/E ratio of -792.32 and a beta of 1.12.

Insider Buying and Selling at Zscaler

In related news, Director Andrew William Fraser Brown sold 10,000 shares of the company’s stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $206.00, for a total value of $2,060,000.00. Following the completion of the sale, the director now directly owns 27,216 shares in the company, valued at approximately $5,606,496. This represents a 26.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Robert Schlossman sold 2,878 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 $573,153.70. Following the transaction, the insider now owns 107,587 shares in the company, valued at approximately $21,425,951.05. This trade represents a 2.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 209,234 shares of company stock worth $42,030,790 over the last 90 days. 18.10% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

ZS has been the topic of several research analyst reports. The Goldman Sachs Group set a $207.00 target price on shares of Zscaler and gave the company a “neutral” rating in a research note on Thursday, March 6th. Barclays reiterated an “overweight” rating on shares of Zscaler in a research note on Wednesday, March 5th. Mizuho upped their target price on Zscaler from $210.00 to $225.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 12th. Wells Fargo & Company lifted their price target on Zscaler from $190.00 to $210.00 and gave the company an “equal weight” rating in a research report on Thursday, March 6th. Finally, BTIG Research set a $252.00 price objective on Zscaler and gave the company a “buy” rating in a report on Thursday, March 6th. Eight research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $234.94.

Zscaler 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.