National Bank of Canada FI Sells 34,243 Shares of Zscaler, Inc. (NASDAQ:ZS)

National Bank of Canada FI cut its stake in Zscaler, Inc. (NASDAQ:ZS) by 49.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 35,451 shares of the company’s stock after selling 34,243 shares during the quarter. National Bank of Canada FI’s holdings in Zscaler were worth $6,396,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Pictet Asset Management Holding SA grew its stake in shares of Zscaler by 25.8% during the fourth quarter. Pictet Asset Management Holding SA now owns 1,618,176 shares of the company’s stock valued at $291,935,000 after buying an additional 332,307 shares during the last quarter. DnB Asset Management AS boosted its holdings in Zscaler by 66.8% during the 4th quarter. DnB Asset Management AS now owns 667,383 shares of the company’s stock valued at $120,403,000 after acquiring an additional 267,162 shares during the period. Artisan Partners Limited Partnership grew its position in Zscaler by 30.9% in the 4th quarter. Artisan Partners Limited Partnership now owns 868,795 shares of the company’s stock valued at $156,739,000 after acquiring an additional 204,996 shares during the last quarter. Norges Bank purchased a new stake in Zscaler in the fourth quarter worth $32,158,000. Finally, Raymond James Financial Inc. purchased a new stake in Zscaler in the fourth quarter worth $28,072,000. 46.45% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Zscaler

In other news, CEO Jagtar Singh Chaudhry sold 2,155 shares of the stock in a transaction 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 sale, the chief executive officer now owns 356,414 shares in the company, valued at $70,979,848.10. This represents a 0.60 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Ajay Mangal sold 190,480 shares of the business’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $200.69, for a total transaction of $38,227,431.20. Following the transaction, the insider now owns 2,580,210 shares of the company’s stock, valued at $517,822,344.90. This represents a 6.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 209,234 shares of company stock valued at $42,030,790 in the last three months. 18.10% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on ZS. Needham & Company LLC restated a “buy” rating and issued a $240.00 price target on shares of Zscaler in a report on Wednesday, March 5th. Robert W. Baird upped their target price on shares of Zscaler from $240.00 to $250.00 and gave the stock an “outperform” rating in a research note on Thursday, March 6th. Mizuho raised their target price on shares of Zscaler from $210.00 to $225.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 12th. Cantor Fitzgerald upgraded Zscaler from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $220.00 to $250.00 in a report on Thursday. Finally, Stephens began coverage on Zscaler in a research note on Tuesday, April 1st. They issued an “overweight” rating and a $255.00 price objective on the stock. Eight analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $234.94.

Zscaler Stock Performance

Zscaler stock opened at $174.67 on Monday. The stock has a market cap of $27.03 billion, a PE ratio of -698.68 and a beta of 1.12. The stock has a 50-day moving average of $202.38 and a two-hundred day moving average of $194.78. Zscaler, Inc. has a one year low of $153.45 and a one year high of $217.84.

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.