Zscaler, Inc. (NASDAQ:ZS) Shares Sold by J. Safra Sarasin Holding AG

J. Safra Sarasin Holding AG reduced its holdings in shares of Zscaler, Inc. (NASDAQ:ZS - Free Report) by 34.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 28,983 shares of the company's stock after selling 15,005 shares during the quarter. J. Safra Sarasin Holding AG's holdings in Zscaler were worth $5,229,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Geode Capital Management LLC grew its holdings in shares of Zscaler by 2.0% during the fourth quarter. Geode Capital Management LLC now owns 1,658,406 shares of the company's stock worth $298,710,000 after buying an additional 32,545 shares in the last quarter. Pictet Asset Management Holding SA grew its holdings in shares of Zscaler by 25.8% during the fourth quarter. Pictet Asset Management Holding SA now owns 1,618,176 shares of the company's stock worth $291,935,000 after buying an additional 332,307 shares in the last quarter. Artisan Partners Limited Partnership grew its holdings in shares of Zscaler by 30.9% during the fourth quarter. Artisan Partners Limited Partnership now owns 868,795 shares of the company's stock worth $156,739,000 after buying an additional 204,996 shares in the last quarter. DnB Asset Management AS grew its holdings in shares of Zscaler by 66.8% during the fourth quarter. DnB Asset Management AS now owns 667,383 shares of the company's stock worth $120,403,000 after buying an additional 267,162 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its position in shares of Zscaler by 3.2% in the fourth quarter. Bank of New York Mellon Corp now owns 539,113 shares of the company's stock worth $97,261,000 after acquiring an additional 16,742 shares during the last quarter. 46.45% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Zscaler news, Director Andrew William Fraser Brown sold 10,000 shares of the firm's stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $206.00, for a total value of $2,060,000.00. Following the sale, the director now owns 27,216 shares in the company, valued at approximately $5,606,496. This trade represents a 26.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Robert Schlossman sold 2,878 shares of the firm'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 transaction of $573,153.70. Following the completion of the sale, the insider now owns 107,587 shares in the company, valued at $21,425,951.05. The trade was a 2.61 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 209,234 shares of company stock valued at $42,030,790 over the last quarter. Insiders own 18.10% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. 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. JPMorgan Chase & Co. raised their target price on shares of Zscaler from $240.00 to $250.00 and gave the stock an "overweight" rating in a research report on Thursday, March 6th. Robert W. Baird raised their target price on shares of Zscaler from $240.00 to $250.00 and gave the stock an "outperform" rating in a research report on Thursday, March 6th. Rosenblatt Securities reissued a "buy" rating and issued a $235.00 target price on shares of Zscaler in a research report on Tuesday, April 15th. Finally, Scotiabank reissued a "sector outperform" rating and issued a $242.00 target price (up from $225.00) on shares of Zscaler in a research report on Wednesday, March 5th. Nine investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Zscaler currently has a consensus rating of "Moderate Buy" and a consensus price target of $234.16.

Zscaler Trading Up 2.6 %

NASDAQ ZS traded up $5.44 during trading hours on Friday, reaching $215.58. The company's stock had a trading volume of 2,884,983 shares, compared to its average volume of 1,992,800. The business has a 50-day simple moving average of $199.30 and a 200 day simple moving average of $197.39. Zscaler, Inc. has a 52 week low of $153.45 and a 52 week high of $217.84. The stock has a market cap of $33.36 billion, a PE ratio of -862.32 and a beta of 1.12.

About Zscaler

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.