Wedbush Securities Inc. Sells 527 Shares of Zscaler, Inc. (NASDAQ:ZS)

Wedbush Securities Inc. cut its stake in Zscaler, Inc. (NASDAQ:ZS) by 7.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,261 shares of the company’s stock after selling 527 shares during the period. Wedbush Securities Inc.’s holdings in Zscaler were worth $1,130,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of the stock. Pictet Asset Management Holding SA boosted its holdings in Zscaler by 25.8% in 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 acquiring an additional 332,307 shares during the last quarter. DnB Asset Management AS lifted its position 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 purchasing an additional 267,162 shares during the period. Artisan Partners Limited Partnership boosted its stake in shares of 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 purchasing an additional 204,996 shares during the last quarter. Norges Bank acquired a new stake in shares of Zscaler during the 4th quarter worth approximately $32,158,000. Finally, Raymond James Financial Inc. bought a new stake in shares of Zscaler during the fourth quarter worth approximately $28,072,000. 46.45% of the stock is currently owned by institutional investors and hedge funds.

Zscaler Price Performance

Shares of Zscaler stock opened at $174.67 on Monday. The business has a fifty day simple moving average of $202.38 and a two-hundred day simple moving average of $194.78. Zscaler, Inc. has a 1 year low of $153.45 and a 1 year high of $217.84. The company has a market capitalization of $27.03 billion, a price-to-earnings ratio of -698.68 and a beta of 1.12.

Analysts Set New Price Targets

ZS has been the subject of a number of analyst reports. BTIG Research set a $252.00 target price on shares of Zscaler and gave the stock a “buy” rating in a report on Thursday, March 6th. Wedbush lifted their price objective on Zscaler from $230.00 to $240.00 and gave the stock an “outperform” rating in a research note on Thursday, March 6th. BMO Capital Markets increased their target price on Zscaler from $222.00 to $233.00 and gave the company an “outperform” rating in a research note on Thursday, March 6th. Citigroup restated a “buy” rating and set a $240.00 target price (up from $235.00) on shares of Zscaler in a research report on Wednesday, March 5th. Finally, UBS Group increased their price target on shares of Zscaler from $250.00 to $260.00 and gave the company a “buy” rating in a research report on Thursday, March 6th. Eight analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Zscaler currently has an average rating of “Moderate Buy” and an average price target of $234.94.

Insider Transactions at Zscaler

In other Zscaler news, Director Andrew William Fraser Brown sold 10,000 shares of the stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $206.00, for a total transaction of $2,060,000.00. Following the transaction, the director now owns 27,216 shares in the company, valued at $5,606,496. This trade represents a 26.87 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Robert Schlossman sold 2,878 shares of the business’s stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $199.15, for a total transaction of $573,153.70. Following the completion of the sale, the insider now directly owns 107,587 shares of the company’s stock, valued at approximately $21,425,951.05. The trade was a 2.61 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 209,234 shares of company stock worth $42,030,790. 18.10% of the stock is owned by insiders.

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.