Skandinaviska Enskilda Banken AB publ Decreases Holdings in Zscaler, Inc. (NASDAQ:ZS)

Skandinaviska Enskilda Banken AB publ trimmed its stake in shares of Zscaler, Inc. (NASDAQ:ZS) by 3.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 45,671 shares of the company’s stock after selling 1,851 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Zscaler were worth $8,363,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in ZS. Global X Japan Co. Ltd. lifted 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 buying an additional 79 shares in the last quarter. Stonebridge Financial Group LLC purchased a new position in shares of Zscaler in the fourth quarter worth about $29,000. Prestige Wealth Management Group LLC purchased a new position in shares of Zscaler in the third quarter worth about $31,000. True Wealth Design LLC lifted its stake in shares of Zscaler by 18,500.0% in 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 in the last quarter. Finally, Versant Capital Management Inc lifted 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 in the last quarter. 46.45% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. JPMorgan Chase & Co. raised their price target on shares of Zscaler from $240.00 to $250.00 and gave the stock an “overweight” rating in a research note on Thursday, March 6th. Needham & Company LLC reissued a “buy” rating and issued a $240.00 price target on shares of Zscaler in a research note on Wednesday, March 5th. Robert W. Baird raised their price objective on shares of Zscaler from $240.00 to $250.00 and gave the stock an “outperform” rating in a research report on Thursday, March 6th. JMP Securities restated a “market outperform” rating and set a $240.00 price objective (down from $270.00) on shares of Zscaler in a research report on Tuesday, December 3rd. Finally, The Goldman Sachs Group set a $207.00 price objective on shares of Zscaler and gave the stock a “neutral” rating in a research report on Thursday, March 6th. Nine equities research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $233.88.

Insider Transactions at Zscaler

In other news, insider Syam Nair sold 3,682 shares of Zscaler stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $200.32, for a total value of $737,578.24. Following the transaction, the insider now directly owns 142,866 shares of the company’s stock, valued at $28,618,917.12. The trade was a 2.51 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Jagtar Singh Chaudhry sold 2,863 shares of Zscaler stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $200.32, for a total transaction of $573,516.16. Following the completion of the transaction, the chief executive officer now directly owns 358,569 shares in the company, valued at $71,828,542.08. The trade was a 0.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 10,248 shares of company stock worth $2,052,879. 18.10% of the stock is currently owned by insiders.

Zscaler Stock Up 4.3 %

Shares of Zscaler stock opened at $197.81 on Friday. Zscaler, Inc. has a 52-week low of $153.45 and a 52-week high of $217.84. The company has a 50 day moving average of $198.14 and a 200 day moving average of $191.61. The company has a market capitalization of $30.61 billion, a P/E ratio of -791.24 and a beta of 0.88.

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.