Commonwealth Equity Services LLC Cuts Position in Zscaler, Inc. (NASDAQ:ZS)

Commonwealth Equity Services LLC reduced its position in shares of Zscaler, Inc. (NASDAQ:ZS) by 3.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 58,450 shares of the company’s stock after selling 1,860 shares during the period. Commonwealth Equity Services LLC’s holdings in Zscaler were worth $10,545,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also modified their holdings of the company. Global X Japan Co. Ltd. boosted its holdings in Zscaler by 127.4% in the fourth quarter. Global X Japan Co. Ltd. now owns 141 shares of the company’s stock valued at $25,000 after purchasing an additional 79 shares during the period. Stonebridge Financial Group LLC acquired a new stake in Zscaler in the 4th quarter valued at about $29,000. Prestige Wealth Management Group LLC purchased a new position in shares of Zscaler in the 3rd quarter valued at about $31,000. True Wealth Design LLC increased its stake in shares of 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 period. Finally, Versant Capital Management Inc raised its holdings 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 acquiring an additional 104 shares in the last quarter. 46.45% of the stock is owned by institutional investors and hedge funds.

Zscaler Stock Performance

ZS opened at $203.95 on Thursday. Zscaler, Inc. has a one year low of $153.45 and a one year high of $217.84. The company has a market cap of $31.56 billion, a price-to-earnings ratio of -815.80 and a beta of 0.88. The business’s fifty day moving average is $199.11 and its two-hundred day moving average is $191.72.

Analysts Set New Price Targets

Several research analysts have commented on ZS shares. JPMorgan Chase & Co. boosted their price target on shares of Zscaler from $240.00 to $250.00 and gave the stock an “overweight” rating in a report on Thursday, March 6th. Scotiabank reissued a “sector outperform” rating and issued a $242.00 target price (up previously from $225.00) on shares of Zscaler in a report on Wednesday, March 5th. Wells Fargo & Company lifted their price target on Zscaler from $190.00 to $210.00 and gave the stock an “equal weight” rating in a report on Thursday, March 6th. The Goldman Sachs Group set a $207.00 price objective on Zscaler and gave the stock a “neutral” rating in a research report on Thursday, March 6th. Finally, Citigroup reissued a “buy” rating and set a $240.00 target price (up previously from $235.00) on shares of Zscaler in a research report on Wednesday, March 5th. Nine analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $232.68.

Insider Activity at Zscaler

In other news, major shareholder Ajay Mangal sold 190,480 shares of the firm’s stock in a transaction on 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 sale, the insider now owns 2,580,210 shares in the company, valued at $517,822,344.90. This trade represents a 6.87 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 18.10% of the stock is owned by corporate 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.