Ballentine Partners LLC decreased its position in Zscaler, Inc. (NASDAQ:ZS – Free Report) by 28.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,974 shares of the company’s stock after selling 788 shares during the period. Ballentine Partners LLC’s holdings in Zscaler were worth $356,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ZS. Prestige Wealth Management Group LLC bought a new position in shares of Zscaler in the 3rd quarter worth $31,000. Versant Capital Management Inc lifted its stake in Zscaler by 136.8% in the fourth quarter. Versant Capital Management Inc now owns 180 shares of the company’s stock valued at $32,000 after buying an additional 104 shares during the period. True Wealth Design LLC boosted its holdings in Zscaler by 18,500.0% during the third quarter. True Wealth Design LLC now owns 186 shares of the company’s stock worth $32,000 after buying an additional 185 shares during the last quarter. Modus Advisors LLC acquired a new position in shares of Zscaler during the 4th quarter worth about $36,000. Finally, Wilmington Savings Fund Society FSB bought a new stake in shares of Zscaler in the 3rd quarter valued at about $38,000. 46.45% of the stock is currently owned by institutional investors and hedge funds.
Zscaler Stock Performance
Shares of ZS stock opened at $193.47 on Friday. Zscaler, Inc. has a 52-week low of $153.45 and a 52-week high of $259.61. The stock has a market cap of $29.69 billion, a price-to-earnings ratio of -773.88 and a beta of 0.87. The firm’s 50-day moving average is $195.05 and its 200-day moving average is $187.86.
Wall Street Analyst Weigh In
A number of research analysts recently issued reports on ZS shares. Barclays boosted their price objective on shares of Zscaler from $200.00 to $220.00 and gave the company an “overweight” rating in a report on Thursday, November 21st. JMP Securities restated a “market outperform” rating and issued a $240.00 price objective (down previously from $270.00) on shares of Zscaler in a research report on Tuesday, December 3rd. BMO Capital Markets lifted their target price on Zscaler from $197.00 to $222.00 and gave the stock an “outperform” rating in a report on Tuesday, December 3rd. Canaccord Genuity Group increased their price target on Zscaler from $220.00 to $230.00 and gave the stock a “buy” rating in a report on Tuesday, December 3rd. Finally, Needham & Company LLC reiterated a “buy” rating and set a $240.00 price objective on shares of Zscaler in a report on Friday, January 10th. Eleven analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $225.47.
Insiders Place Their Bets
In other news, 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 transaction of $741,784.96. Following the completion of the sale, the chief financial officer now owns 220,635 shares of the company’s stock, valued at approximately $44,197,603.20. This trade represents a 1.65 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Syam Nair sold 3,682 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 $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. The trade was a 2.51 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 10,248 shares of company stock valued at $2,052,879 over the last ninety days. 18.10% of the stock is currently owned by company insiders.
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.
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