Envestnet Portfolio Solutions Inc. Buys New Shares in Zscaler, Inc. (NASDAQ:ZS)

Envestnet Portfolio Solutions Inc. purchased a new position in shares of Zscaler, Inc. (NASDAQ:ZS) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 1,181 shares of the company’s stock, valued at approximately $213,000.

Several other large investors have also added to or reduced their stakes in ZS. Global X Japan Co. Ltd. increased its stake in shares of Zscaler by 127.4% in the fourth quarter. Global X Japan Co. Ltd. now owns 141 shares of the company’s stock worth $25,000 after acquiring an additional 79 shares during the period. Stonebridge Financial Group LLC acquired a new stake in Zscaler during the 4th quarter worth about $29,000. Prestige Wealth Management Group LLC purchased a new position in shares of Zscaler during the 3rd quarter valued at about $31,000. True Wealth Design LLC lifted its holdings in shares of Zscaler by 18,500.0% in the 3rd quarter. True Wealth Design LLC now owns 186 shares of the company’s stock valued at $32,000 after buying an additional 185 shares during the period. Finally, Versant Capital Management Inc boosted its stake in shares of Zscaler by 136.8% in the fourth quarter. Versant Capital Management Inc now owns 180 shares of the company’s stock worth $32,000 after buying an additional 104 shares during the last quarter. Hedge funds and other institutional investors own 46.45% of the company’s stock.

Zscaler Trading Down 1.1 %

Zscaler stock opened at $207.14 on Friday. The company has a 50-day moving average price of $202.08 and a 200 day moving average price of $193.41. Zscaler, Inc. has a 12-month low of $153.45 and a 12-month high of $217.84. The stock has a market cap of $32.05 billion, a P/E ratio of -828.56 and a beta of 0.88.

Insider Activity

In other news, CEO Jagtar Singh Chaudhry sold 2,155 shares of the company’s stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $199.15, for a total value of $429,168.25. Following the transaction, the chief executive officer now directly owns 356,414 shares in the company, valued at approximately $70,979,848.10. This represents a 0.60 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Robert Schlossman sold 2,878 shares of the stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $199.15, for a total transaction of $573,153.70. Following the transaction, the insider now directly owns 107,587 shares of the company’s stock, valued at $21,425,951.05. The trade was a 2.61 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 199,234 shares of company stock valued at $39,970,790 in the last 90 days. Company insiders own 18.10% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on ZS shares. BTIG Research set a $252.00 price target on Zscaler and gave the company a “buy” rating in a research report on Thursday, March 6th. Piper Sandler boosted their target price on shares of Zscaler from $215.00 to $235.00 and gave the company an “overweight” rating in a research note on Tuesday, December 3rd. Mizuho raised their price target on shares of Zscaler from $210.00 to $225.00 and gave the company a “neutral” rating in a research report on Wednesday, February 12th. Canaccord Genuity Group upped their price objective on shares of Zscaler from $220.00 to $230.00 and gave the stock a “buy” rating in a research report on Tuesday, December 3rd. Finally, Scotiabank restated a “sector outperform” rating and set a $242.00 target price (up from $225.00) on shares of Zscaler in a research report on Wednesday, March 5th. Nine investment analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average 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.