Snowden Capital Advisors LLC Sells 3,572 Shares of Zscaler, Inc. (NASDAQ:ZS)

Snowden Capital Advisors LLC reduced its position in Zscaler, Inc. (NASDAQ:ZS - Free Report) by 69.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,547 shares of the company's stock after selling 3,572 shares during the period. Snowden Capital Advisors LLC's holdings in Zscaler were worth $279,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of ZS. Global X Japan Co. Ltd. lifted its stake in shares of Zscaler by 127.4% during the fourth quarter. Global X Japan Co. Ltd. now owns 141 shares of the company's stock worth $25,000 after purchasing an additional 79 shares in the last quarter. Summit Securities Group LLC purchased a new position in Zscaler in the 4th quarter worth approximately $27,000. Colonial Trust Co SC acquired a new stake in Zscaler in the fourth quarter valued at approximately $28,000. Stonebridge Financial Group LLC acquired a new position in shares of Zscaler during the fourth quarter worth $29,000. Finally, Crews Bank & Trust purchased a new position in shares of Zscaler in the fourth quarter valued at $36,000. Hedge funds and other institutional investors own 46.45% of the company's stock.

Zscaler Price Performance

Shares of ZS traded down $4.13 on Wednesday, reaching $253.17. 543,842 shares of the stock traded hands, compared to its average volume of 2,052,016. The stock's 50-day moving average price is $217.66 and its 200-day moving average price is $205.21. The firm has a market cap of $39.17 billion, a price-to-earnings ratio of -1,013.74 and a beta of 1.14. Zscaler, Inc. has a 12 month low of $153.45 and a 12 month high of $259.40.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Wedbush boosted their price objective on shares of Zscaler from $230.00 to $240.00 and gave the stock an "outperform" rating in a report on Thursday, March 6th. Cantor Fitzgerald increased their price target on Zscaler from $250.00 to $275.00 and gave the stock an "overweight" rating in a research report on Tuesday. BMO Capital Markets lifted their price objective on shares of Zscaler from $222.00 to $233.00 and gave the company an "outperform" rating in a research report on Thursday, March 6th. JPMorgan Chase & Co. lifted their target price on Zscaler from $250.00 to $275.00 and gave the company an "overweight" rating in a research note on Friday, May 23rd. 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 equities research analysts have rated the stock with a hold rating and twenty-six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $240.09.

Insider Buying and Selling at Zscaler

In other Zscaler news, CEO Jagtar Singh Chaudhry sold 2,155 shares of the business's stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $199.15, for a total value of $429,168.25. Following the transaction, the chief executive officer now owns 356,414 shares of the company's stock, valued at approximately $70,979,848.10. The trade was a 0.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Ajay Mangal sold 190,480 shares of the firm's 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 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 241,771 shares of company stock valued at $50,165,040 in the last 90 days. 18.10% of the stock is currently owned by company insiders.

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.