Avantax Advisory Services Inc. Lowers Position in Zscaler, Inc. (NASDAQ:ZS)

Avantax Advisory Services Inc. trimmed its stake in Zscaler, Inc. (NASDAQ:ZS) by 23.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,634 shares of the company’s stock after selling 1,086 shares during the quarter. Avantax Advisory Services Inc.’s holdings in Zscaler were worth $656,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the stock. KRS Capital Management LLC lifted its position in Zscaler by 1.9% during the fourth quarter. KRS Capital Management LLC now owns 3,261 shares of the company’s stock valued at $588,000 after buying an additional 60 shares in the last quarter. Smartleaf Asset Management LLC lifted its position in Zscaler by 16.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 482 shares of the company’s stock valued at $88,000 after buying an additional 69 shares in the last quarter. GAMMA Investing LLC lifted its position in Zscaler by 18.5% during the fourth quarter. GAMMA Investing LLC now owns 448 shares of the company’s stock valued at $81,000 after buying an additional 70 shares in the last quarter. Avior Wealth Management LLC lifted its position in Zscaler by 50.7% during the fourth quarter. Avior Wealth Management LLC now owns 214 shares of the company’s stock valued at $39,000 after buying an additional 72 shares in the last quarter. Finally, Choreo LLC lifted its position in Zscaler by 2.6% during the fourth quarter. Choreo LLC now owns 2,833 shares of the company’s stock valued at $517,000 after buying an additional 73 shares in the last quarter. 46.45% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on ZS shares. BTIG Research set a $252.00 price target on shares of Zscaler and gave the company a “buy” rating in a research report on Thursday, March 6th. The Goldman Sachs Group set a $207.00 target price on shares of Zscaler and gave the stock a “neutral” rating in a research report on Thursday, March 6th. Sanford C. Bernstein reissued an “outperform” rating and set a $244.00 target price on shares of Zscaler in a research report on Thursday, March 6th. Rosenblatt Securities raised shares of Zscaler from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $190.00 to $235.00 in a research report on Thursday, March 6th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Zscaler from $240.00 to $250.00 and gave the stock an “overweight” rating in a research report on Thursday, March 6th. Nine investment analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $232.68.

Insider Transactions at Zscaler

In other news, insider Robert Schlossman sold 2,878 shares of the company’s stock in a transaction dated 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 in the company, valued at approximately $21,425,951.05. This represents a 2.61 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Ajay Mangal sold 190,480 shares of the company’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $200.69, for a total transaction of $38,227,431.20. Following the completion of the sale, the insider now directly owns 2,580,210 shares of the company’s stock, valued at $517,822,344.90. The trade was a 6.87 % 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. Insiders own 18.10% of the company’s stock.

Zscaler Stock Performance

Zscaler stock opened at $205.20 on Friday. The company has a 50-day simple moving average of $199.74 and a 200-day simple moving average of $191.84. The firm has a market capitalization of $31.75 billion, a P/E ratio of -820.80 and a beta of 0.88. Zscaler, Inc. has a one year low of $153.45 and a one year high of $217.84.

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.