Independent Solutions Wealth Management LLC Sells 98 Shares of Zscaler, Inc. (NASDAQ:ZS)

Independent Solutions Wealth Management LLC lessened its holdings in shares of Zscaler, Inc. (NASDAQ:ZS) by 0.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,819 shares of the company’s stock after selling 98 shares during the period. Independent Solutions Wealth Management LLC’s holdings in Zscaler were worth $2,132,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. Global X Japan Co. Ltd. increased its holdings in Zscaler by 127.4% during the 4th 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. Stonebridge Financial Group LLC bought a new position in shares of Zscaler during the fourth quarter worth about $29,000. Prestige Wealth Management Group LLC acquired a new stake in Zscaler in the 3rd quarter valued at approximately $31,000. True Wealth Design LLC lifted its stake in Zscaler by 18,500.0% in the 3rd quarter. True Wealth Design LLC now owns 186 shares of the company’s stock valued at $32,000 after acquiring an additional 185 shares in the last quarter. Finally, Versant Capital Management Inc lifted its position in shares of Zscaler by 136.8% in the fourth quarter. Versant Capital Management Inc now owns 180 shares of the company’s stock worth $32,000 after purchasing an additional 104 shares in the last quarter. 46.45% of the stock is currently owned by institutional investors and hedge funds.

Zscaler Stock Down 0.2 %

Shares of NASDAQ:ZS opened at $203.55 on Friday. Zscaler, Inc. has a 12-month low of $153.45 and a 12-month high of $217.84. The company’s 50 day moving average price is $199.43 and its two-hundred day moving average price is $191.81. The firm has a market cap of $31.49 billion, a PE ratio of -814.20 and a beta of 0.88.

Insider Buying and Selling

In related news, CEO Jagtar Singh Chaudhry sold 2,155 shares of Zscaler 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 transaction, the chief executive officer now directly 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 sale was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder Ajay Mangal sold 190,480 shares of the company’s stock in a transaction 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 sale, the insider now 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 199,234 shares of company stock valued at $39,970,790 over the last 90 days. 18.10% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

ZS has been the topic of several analyst reports. Morgan Stanley initiated coverage on shares of Zscaler in a research report on Tuesday. They set an “equal weight” rating on the stock. JPMorgan Chase & Co. upped their target price on Zscaler from $240.00 to $250.00 and gave the stock an “overweight” rating in a report on Thursday, March 6th. Wells Fargo & Company raised their price target on Zscaler from $190.00 to $210.00 and gave the company an “equal weight” rating in a research note on Thursday, March 6th. Deutsche Bank Aktiengesellschaft upped their price objective on Zscaler from $200.00 to $225.00 and gave the stock a “buy” rating in a research note on Tuesday, December 3rd. Finally, Needham & Company LLC reissued a “buy” rating and issued a $240.00 target price on shares of Zscaler in a research note on Wednesday, March 5th. Nine analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company’s stock. According to MarketBeat, Zscaler has a consensus rating of “Moderate Buy” and an average price target of $232.68.

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.