Cibc World Markets Corp Decreases Stock Holdings in Zscaler, Inc. (NASDAQ:ZS)

Cibc World Markets Corp lessened its stake in Zscaler, Inc. (NASDAQ:ZS) by 12.3% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 7,539 shares of the company’s stock after selling 1,058 shares during the quarter. Cibc World Markets Corp’s holdings in Zscaler were worth $1,360,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Global X Japan Co. Ltd. boosted 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 last quarter. Stonebridge Financial Group LLC acquired a new stake in Zscaler during the 4th quarter worth $29,000. Prestige Wealth Management Group LLC purchased a new stake in shares of Zscaler during the third quarter worth $31,000. True Wealth Design LLC raised its position 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 valued at $32,000 after buying an additional 185 shares during 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 currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on ZS. Rosenblatt Securities raised shares of Zscaler from a “neutral” rating to a “buy” rating and upped their price objective for the company from $190.00 to $235.00 in a research note on Thursday, March 6th. Citigroup reaffirmed a “buy” rating and issued a $240.00 price target (up previously from $235.00) on shares of Zscaler in a report on Wednesday, March 5th. Piper Sandler lifted their price objective on Zscaler from $215.00 to $235.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 3rd. Guggenheim restated a “neutral” rating on shares of Zscaler in a report on Tuesday, December 3rd. Finally, Wedbush lifted their price target on Zscaler from $230.00 to $240.00 and gave the stock an “outperform” rating in a report on Thursday, March 6th. Nine research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $232.68.

Zscaler Trading Up 0.8 %

Shares of ZS stock opened at $205.20 on Friday. The company has a market cap of $31.75 billion, a P/E ratio of -820.80 and a beta of 0.88. The firm has a fifty day moving average price of $199.74 and a 200 day moving average price of $191.84. Zscaler, Inc. has a 12 month low of $153.45 and a 12 month high of $217.84.

Insider Transactions at Zscaler

In other Zscaler news, CEO Jagtar Singh Chaudhry sold 2,155 shares of the firm’s stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $199.15, for a total transaction of $429,168.25. Following the transaction, the chief executive officer now owns 356,414 shares of the company’s stock, valued at approximately $70,979,848.10. This trade represents a 0.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Ajay Mangal sold 190,480 shares of Zscaler stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $200.69, for a total value 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 position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 199,234 shares of company stock valued at $39,970,790. 18.10% of the stock is currently 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.