Zscaler, Inc. (NASDAQ:ZS) Shares Acquired by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. lifted its position in shares of Zscaler, Inc. (NASDAQ:ZS - Free Report) by 96.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 25,579 shares of the company's stock after purchasing an additional 12,531 shares during the period. Envestnet Asset Management Inc.'s holdings in Zscaler were worth $4,615,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Pictet Asset Management Holding SA increased its position in Zscaler by 25.8% in the 4th 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 period. DnB Asset Management AS boosted its holdings in Zscaler by 66.8% in 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 in the last quarter. Artisan Partners Limited Partnership boosted its holdings in 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 in the last quarter. Norges Bank purchased a new stake in Zscaler in the 4th quarter valued at approximately $32,158,000. Finally, Raymond James Financial Inc. purchased a new stake in Zscaler in the 4th quarter valued at approximately $28,072,000. Institutional investors and hedge funds own 46.45% of the company's stock.

Insiders Place Their Bets

In other news, major shareholder Ajay Mangal sold 190,480 shares of the business's stock in a transaction that occurred on 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 completion of the sale, the insider now directly owns 2,580,210 shares in the company, valued at approximately $517,822,344.90. The trade was a 6.87 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jagtar Singh Chaudhry sold 2,155 shares of the business's stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $199.15, for a total value of $429,168.25. Following the completion of the sale, the chief executive officer now owns 356,414 shares of the company's stock, valued at $70,979,848.10. This trade represents a 0.60 % 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 worth $42,030,790 in the last three months. 18.10% of the stock is owned by insiders.

Zscaler Price Performance

Zscaler stock traded up $4.28 during midday trading on Monday, hitting $219.86. 2,908,820 shares of the company were exchanged, compared to its average volume of 1,996,472. Zscaler, Inc. has a fifty-two week low of $153.45 and a fifty-two week high of $221.50. The company's fifty day moving average price is $199.41 and its 200-day moving average price is $197.54. The company has a market cap of $34.02 billion, a PE ratio of -879.44 and a beta of 1.12.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Wedbush lifted their price objective on Zscaler from $230.00 to $240.00 and gave the company an "outperform" rating in a report on Thursday, March 6th. BTIG Research set a $252.00 price objective on Zscaler and gave the company a "buy" rating in a report on Thursday, March 6th. Needham & Company LLC reaffirmed a "buy" rating and issued a $240.00 price objective on shares of Zscaler in a report on Wednesday, March 5th. Mizuho boosted their price target on Zscaler from $210.00 to $225.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 12th. Finally, JPMorgan Chase & Co. boosted their price target on Zscaler from $240.00 to $250.00 and gave the stock an "overweight" rating in a research note on Thursday, March 6th. Eight analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Zscaler currently has an average rating of "Moderate Buy" and a consensus price target of $236.66.

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.