Harbour Investments Inc. Sells 171 Shares of Zscaler, Inc. (NASDAQ:ZS)

Harbour Investments Inc. trimmed its stake in shares of Zscaler, Inc. (NASDAQ:ZS) by 12.5% during the fourth quarter, HoldingsChannel.com reports. The firm owned 1,195 shares of the company’s stock after selling 171 shares during the quarter. Harbour Investments Inc.’s holdings in Zscaler were worth $216,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ZS. Erste Asset Management GmbH increased its stake in Zscaler by 0.6% in the 4th quarter. Erste Asset Management GmbH now owns 9,780 shares of the company’s stock worth $1,805,000 after acquiring an additional 56 shares during the last quarter. KRS Capital Management LLC increased its stake in Zscaler by 1.9% in the 4th quarter. KRS Capital Management LLC now owns 3,261 shares of the company’s stock worth $588,000 after acquiring an additional 60 shares during the last quarter. Ironwood Investment Management LLC increased its stake in Zscaler by 1.0% in the 4th quarter. Ironwood Investment Management LLC now owns 6,249 shares of the company’s stock worth $1,127,000 after acquiring an additional 64 shares during the last quarter. Smartleaf Asset Management LLC increased its stake in Zscaler by 16.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 482 shares of the company’s stock worth $88,000 after acquiring an additional 69 shares during the last quarter. Finally, GAMMA Investing LLC increased its stake in Zscaler by 18.5% in the 4th quarter. GAMMA Investing LLC now owns 448 shares of the company’s stock worth $81,000 after acquiring an additional 70 shares during the last quarter. 46.45% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Robert W. Baird upped their target price on Zscaler from $240.00 to $250.00 and gave the stock an “outperform” rating in a research note on Thursday, March 6th. Canaccord Genuity Group increased their price objective on Zscaler from $220.00 to $230.00 and gave the company a “buy” rating in a research report on Tuesday, December 3rd. BTIG Research set a $252.00 price objective on Zscaler and gave the company a “buy” rating in a research report on Thursday, March 6th. BMO Capital Markets increased their price objective on Zscaler from $222.00 to $233.00 and gave the company an “outperform” rating in a research report on Thursday, March 6th. Finally, JPMorgan Chase & Co. increased their price objective on Zscaler from $240.00 to $250.00 and gave the company an “overweight” rating in a research report on Thursday, March 6th. Nine investment analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $232.68.

Insider Activity

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 transaction, the insider now owns 2,580,210 shares in the company, valued at approximately $517,822,344.90. The trade was a 6.87 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Remo Canessa sold 3,721 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 $741,037.15. Following the transaction, the chief financial officer now owns 213,702 shares of the company’s stock, valued at $42,558,753.30. The trade was a 1.71 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 199,234 shares of company stock worth $39,970,790 in the last quarter. 18.10% of the stock is owned by company insiders.

Zscaler Stock Up 0.8 %

ZS opened at $205.20 on Friday. The stock has a market cap of $31.75 billion, a PE ratio of -820.80 and a beta of 0.88. The business has a 50 day moving average of $199.74 and a 200-day moving average of $191.84. Zscaler, Inc. has a 52 week low of $153.45 and a 52 week high of $217.84.

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.