J. Safra Sarasin Holding AG Cuts Stock Position in Zscaler, Inc. (NASDAQ:ZS)

J. Safra Sarasin Holding AG lowered its holdings in shares of Zscaler, Inc. (NASDAQ:ZS) by 34.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 28,983 shares of the company’s stock after selling 15,005 shares during the quarter. J. Safra Sarasin Holding AG’s holdings in Zscaler were worth $5,229,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Stifel Financial Corp lifted its stake in Zscaler by 9.2% in the 4th quarter. Stifel Financial Corp now owns 112,665 shares of the company’s stock worth $20,326,000 after purchasing an additional 9,464 shares in the last quarter. Tower Research Capital LLC TRC increased its holdings in shares of Zscaler by 107.4% in the fourth quarter. Tower Research Capital LLC TRC now owns 6,304 shares of the company’s stock worth $1,137,000 after purchasing an additional 3,264 shares during the last quarter. Teachers Retirement System of The State of Kentucky lifted its position in shares of Zscaler by 26.3% in the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 51,818 shares of the company’s stock worth $9,348,000 after buying an additional 10,792 shares in the last quarter. Thematics Asset Management lifted its position in shares of Zscaler by 10.2% in the fourth quarter. Thematics Asset Management now owns 162,000 shares of the company’s stock worth $29,226,000 after buying an additional 15,000 shares in the last quarter. Finally, Natixis bought a new position in Zscaler during the fourth quarter valued at approximately $87,775,000. Institutional investors own 46.45% of the company’s stock.

Insiders Place Their Bets

In other Zscaler news, Director Andrew William Fraser Brown sold 10,000 shares of the business’s stock in a transaction that occurred 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 sale, the director now owns 27,216 shares of the company’s stock, valued at approximately $5,606,496. The trade was a 26.87 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Ajay Mangal sold 190,480 shares of the firm’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $200.69, for a total transaction of $38,227,431.20. Following the completion of the transaction, the insider now directly owns 2,580,210 shares of the company’s stock, valued at approximately $517,822,344.90. This represents a 6.87 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 209,234 shares of company stock valued at $42,030,790. 18.10% of the stock is currently owned by insiders.

Zscaler Stock Performance

NASDAQ:ZS opened at $193.70 on Tuesday. The stock has a market capitalization of $29.97 billion, a P/E ratio of -774.80 and a beta of 1.12. The company’s 50-day simple moving average is $199.99 and its 200-day simple moving average is $196.74. Zscaler, Inc. has a fifty-two week low of $153.45 and a fifty-two week high of $217.84.

Analyst Ratings Changes

A number of analysts have issued reports on the company. 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. The Goldman Sachs Group set a $207.00 price target on shares of Zscaler and gave the stock a “neutral” rating in a research report on Thursday, March 6th. Stephens initiated coverage on shares of Zscaler in a research note on Tuesday, April 1st. They issued an “overweight” rating and a $255.00 price objective for the company. Royal Bank of Canada increased their price target on shares of Zscaler from $230.00 to $250.00 and gave the company an “outperform” rating in a report on Thursday, March 6th. Finally, Sanford C. Bernstein restated an “outperform” rating and set a $244.00 price objective on shares of Zscaler in a research report on Thursday, March 6th. Eight equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $234.77.

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.