Zscaler, Inc. (NASDAQ:ZS) Shares Sold by Comerica Bank

Comerica Bank decreased its holdings in shares of Zscaler, Inc. (NASDAQ:ZS - Free Report) by 80.9% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 5,751 shares of the company's stock after selling 24,318 shares during the period. Comerica Bank's holdings in Zscaler were worth $1,037,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Wealth Enhancement Advisory Services LLC increased its position in Zscaler by 1.3% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 11,666 shares of the company's stock worth $1,994,000 after acquiring an additional 151 shares during the period. Salem Investment Counselors Inc. increased its holdings in Zscaler by 1.9% during the 4th quarter. Salem Investment Counselors Inc. now owns 10,043 shares of the company's stock worth $1,812,000 after purchasing an additional 188 shares in the last quarter. Pallas Capital Advisors LLC boosted its stake in shares of Zscaler by 95.4% in the 4th quarter. Pallas Capital Advisors LLC now owns 4,491 shares of the company's stock worth $810,000 after buying an additional 2,193 shares during the last quarter. Tlwm grew its position in shares of Zscaler by 4.7% during the 4th quarter. Tlwm now owns 4,579 shares of the company's stock valued at $826,000 after acquiring an additional 206 shares during the period. Finally, Rockland Trust Co. purchased a new position in shares of Zscaler in the fourth quarter worth about $203,000. Institutional investors own 46.45% of the company's stock.

Insider Transactions at Zscaler

In related news, major shareholder Ajay Mangal sold 190,480 shares of Zscaler stock in a transaction that occurred 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 sale, the insider now owns 2,580,210 shares of the company's stock, valued at approximately $517,822,344.90. This trade represents a 6.87% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Andrew William Fraser Brown sold 10,000 shares of the company's stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $206.00, for a total value of $2,060,000.00. Following the sale, the director now directly owns 27,216 shares in the company, valued at $5,606,496. This trade represents a 26.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 209,234 shares of company stock valued at $42,030,790 in the last three months. 18.10% of the stock is currently owned by company insiders.

Zscaler Stock Performance

Shares of NASDAQ ZS traded up $5.58 during mid-day trading on Friday, hitting $251.50. The stock had a trading volume of 3,079,508 shares, compared to its average volume of 2,041,302. The business has a 50 day moving average price of $209.13 and a two-hundred day moving average price of $201.55. The firm has a market cap of $38.91 billion, a P/E ratio of -1,006.00 and a beta of 1.14. Zscaler, Inc. has a 1 year low of $153.45 and a 1 year high of $253.52.

Analysts Set New Price Targets

ZS has been the topic of a number of research reports. Morgan Stanley decreased their price objective on Zscaler from $205.00 to $200.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 16th. Scotiabank reaffirmed a "sector outperform" rating and set a $242.00 price target (up from $225.00) on shares of Zscaler in a report on Wednesday, March 5th. Rosenblatt Securities reaffirmed a "buy" rating and issued a $235.00 price objective on shares of Zscaler in a research note on Tuesday, April 15th. Needham & Company LLC restated a "buy" rating and set a $240.00 price target on shares of Zscaler in a report on Wednesday, March 5th. Finally, Robert W. Baird lifted their target price on Zscaler from $240.00 to $250.00 and gave the stock an "outperform" rating in a research report on Thursday, March 6th. Eight investment analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $238.53.

Zscaler 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.