Snowden Capital Advisors LLC Reduces Position in Zscaler, Inc. (NASDAQ:ZS)

Snowden Capital Advisors LLC lessened its holdings in Zscaler, Inc. (NASDAQ:ZS - Free Report) by 69.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,547 shares of the company's stock after selling 3,572 shares during the quarter. Snowden Capital Advisors LLC's holdings in Zscaler were worth $279,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Geode Capital Management LLC raised its holdings in Zscaler by 2.0% in the 4th quarter. Geode Capital Management LLC now owns 1,658,406 shares of the company's stock valued at $298,710,000 after acquiring an additional 32,545 shares during the last quarter. Pictet Asset Management Holding SA raised its holdings 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 last quarter. AQR Capital Management LLC raised its holdings in Zscaler by 120.1% in the 4th quarter. AQR Capital Management LLC now owns 964,031 shares of the company's stock valued at $173,921,000 after acquiring an additional 525,956 shares during the last quarter. Artisan Partners Limited Partnership grew its stake in shares of Zscaler by 30.9% during the 4th quarter. Artisan Partners Limited Partnership now owns 868,795 shares of the company's stock valued at $156,739,000 after buying an additional 204,996 shares during the period. Finally, DnB Asset Management AS boosted 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 worth $120,403,000 after purchasing an additional 267,162 shares during the period. Hedge funds and other institutional investors own 46.45% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Sanford C. Bernstein reiterated an "outperform" rating and set a $244.00 price objective on shares of Zscaler in a research note on Thursday, March 6th. The Goldman Sachs Group set a $207.00 target price on shares of Zscaler and gave the stock a "neutral" rating in a research report on Thursday, March 6th. Royal Bank of Canada increased their price objective on shares of Zscaler from $230.00 to $250.00 and gave the company an "outperform" rating in a report on Thursday, March 6th. Stephens reiterated an "overweight" rating and issued a $255.00 price objective on shares of Zscaler in a report on Tuesday. Finally, BTIG Research set a $252.00 price objective on shares of Zscaler and gave the company a "buy" rating in a report on Thursday, March 6th. Eight investment analysts have rated the stock with a hold rating and twenty-six have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $240.09.

Zscaler Trading Up 1.2%

NASDAQ ZS traded up $3.08 on Tuesday, hitting $257.18. 944,136 shares of the company were exchanged, compared to its average volume of 2,055,077. The company has a market cap of $39.79 billion, a PE ratio of -1,028.88 and a beta of 1.14. Zscaler, Inc. has a 12 month low of $153.45 and a 12 month high of $260.01. The stock has a fifty day moving average of $216.59 and a 200-day moving average of $204.85.

Insider Buying and Selling at Zscaler

In related news, insider Syam Nair sold 28,947 shares of the firm's stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $250.00, for a total transaction of $7,236,750.00. Following the completion of the sale, the insider now owns 110,566 shares of the company's stock, valued at $27,641,500. This trade represents a 20.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Ajay Mangal sold 190,480 shares of Zscaler stock in a transaction on Monday, March 17th. The shares were sold at an average price of $200.69, for a total transaction of $38,227,431.20. Following the transaction, the insider now 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. Over the last three months, insiders have sold 241,771 shares of company stock valued at $50,165,040. Corporate insiders own 18.10% of the company's stock.

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.