Evolutionary Tree Capital Management LLC Has $1.40 Million Stock Holdings in Zscaler, Inc. (NASDAQ:ZS)

Evolutionary Tree Capital Management LLC lowered its stake in shares of Zscaler, Inc. (NASDAQ:ZSFree Report) by 4.7% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,763 shares of the company’s stock after selling 387 shares during the period. Zscaler comprises about 1.4% of Evolutionary Tree Capital Management LLC’s investment portfolio, making the stock its 27th biggest holding. Evolutionary Tree Capital Management LLC’s holdings in Zscaler were worth $1,401,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of ZS. Corebridge Financial Inc. grew its position in Zscaler by 0.5% in the fourth quarter. Corebridge Financial Inc. now owns 11,695 shares of the company’s stock worth $2,110,000 after acquiring an additional 54 shares in the last quarter. Erste Asset Management GmbH increased its position in Zscaler by 0.6% during the fourth quarter. Erste Asset Management GmbH now owns 9,780 shares of the company’s stock worth $1,805,000 after buying an additional 56 shares during the last quarter. KRS Capital Management LLC raised its holdings in Zscaler by 1.9% during the fourth quarter. KRS Capital Management LLC now owns 3,261 shares of the company’s stock valued at $588,000 after buying an additional 60 shares in the last quarter. Ironwood Investment Management LLC lifted its position in shares of Zscaler by 1.0% in the fourth quarter. Ironwood Investment Management LLC now owns 6,249 shares of the company’s stock worth $1,127,000 after buying an additional 64 shares during the last quarter. Finally, Smartleaf Asset Management LLC boosted its stake in shares of Zscaler by 16.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 482 shares of the company’s stock worth $88,000 after acquiring an additional 69 shares in the last quarter. 46.45% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Zscaler

In other Zscaler news, Director Andrew William Fraser Brown sold 10,000 shares of the company’s stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $206.00, for a total transaction of $2,060,000.00. Following the completion of the sale, the director now owns 27,216 shares in the company, valued at approximately $5,606,496. The trade was a 26.87 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Ajay Mangal sold 190,480 shares of the stock in a transaction on Monday, March 17th. The shares were sold at an average price of $200.69, for a total value of $38,227,431.20. Following the completion of the transaction, the insider now directly owns 2,580,210 shares in the company, valued at approximately $517,822,344.90. This trade represents a 6.87 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 209,234 shares of company stock worth $42,030,790 over the last 90 days. Insiders own 18.10% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Rosenblatt Securities raised Zscaler from a “neutral” rating to a “buy” rating and raised their price objective for the company from $190.00 to $235.00 in a research note on Thursday, March 6th. Wedbush lifted their price target on shares of Zscaler from $230.00 to $240.00 and gave the company an “outperform” rating in a research report on Thursday, March 6th. Scotiabank reaffirmed a “sector outperform” rating and set a $242.00 price objective (up from $225.00) on shares of Zscaler in a report on Wednesday, March 5th. Sanford C. Bernstein reiterated an “outperform” rating and issued a $244.00 target price on shares of Zscaler in a report on Thursday, March 6th. Finally, Bank of America raised shares of Zscaler from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $215.00 to $240.00 in a research report on Friday, March 7th. Eight analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $234.94.

Get Our Latest Stock Report on Zscaler

Zscaler Price Performance

ZS stock opened at $198.08 on Friday. The company has a 50 day moving average price of $200.88 and a 200 day moving average price of $195.31. Zscaler, Inc. has a fifty-two week low of $153.45 and a fifty-two week high of $217.84. The stock has a market capitalization of $30.65 billion, a PE ratio of -792.32 and a beta of 1.12.

About Zscaler

(Free Report)

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.

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Institutional Ownership by Quarter for Zscaler (NASDAQ:ZS)

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