Focus Partners Wealth Increases Position in Zscaler, Inc. (NASDAQ:ZS)

Focus Partners Wealth raised its position in Zscaler, Inc. (NASDAQ:ZS - Free Report) by 15.2% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 60,566 shares of the company's stock after acquiring an additional 8,002 shares during the quarter. Focus Partners Wealth's holdings in Zscaler were worth $11,037,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. Global X Japan Co. Ltd. raised its stake in shares of Zscaler by 127.4% in the fourth quarter. Global X Japan Co. Ltd. now owns 141 shares of the company's stock worth $25,000 after buying an additional 79 shares during the period. Summit Securities Group LLC bought a new position in shares of Zscaler in the fourth quarter worth about $27,000. Colonial Trust Co SC bought a new position in shares of Zscaler in the fourth quarter worth about $28,000. Stonebridge Financial Group LLC bought a new position in shares of Zscaler in the fourth quarter worth about $29,000. Finally, Crews Bank & Trust bought a new position in shares of Zscaler in the fourth quarter worth about $36,000. Institutional investors own 46.45% of the company's stock.

Insider Buying and Selling

In other Zscaler news, major shareholder Ajay Mangal sold 190,480 shares of Zscaler 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 sale, the insider now directly owns 2,580,210 shares of the company's stock, valued at $517,822,344.90. The trade was a 6.87% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Robert Schlossman sold 2,878 shares of Zscaler stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $199.15, for a total value of $573,153.70. Following the sale, the insider now directly owns 107,587 shares of the company's stock, valued at approximately $21,425,951.05. This trade represents a 2.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 209,234 shares of company stock valued at $42,030,790. Insiders own 18.10% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Barclays reaffirmed an "overweight" rating on shares of Zscaler in a research note 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. BMO Capital Markets increased their target price on Zscaler from $222.00 to $233.00 and gave the stock an "outperform" rating in a research report on Thursday, March 6th. Citigroup reissued a "buy" rating and set a $240.00 target price (up previously from $235.00) on shares of Zscaler in a research note on Wednesday, March 5th. Finally, Scotiabank reissued a "sector outperform" rating and set a $242.00 target price (up previously from $225.00) on shares of Zscaler in a research note on Wednesday, March 5th. Eight analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $238.53.

Zscaler Trading Up 2.3%

Shares of ZS stock traded up $5.58 on Friday, reaching $251.50. 3,079,508 shares of the company's stock were exchanged, compared to its average volume of 2,041,309. Zscaler, Inc. has a 52 week low of $153.45 and a 52 week high of $253.52. The stock has a market capitalization of $38.91 billion, a PE ratio of -1,006.00 and a beta of 1.14. The company's fifty day simple moving average is $209.13 and its 200 day simple moving average is $201.55.

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.