150 Shares in Zscaler, Inc. (NASDAQ:ZS) Bought by Summit Securities Group LLC

Summit Securities Group LLC purchased a new stake in shares of Zscaler, Inc. (NASDAQ:ZS) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 150 shares of the company’s stock, valued at approximately $27,000.

Several other large investors have also made changes to their positions in the business. Geode Capital Management LLC increased its holdings in Zscaler by 3.9% in the 3rd quarter. Geode Capital Management LLC now owns 1,625,861 shares of the company’s stock valued at $277,327,000 after acquiring an additional 60,414 shares during the last quarter. Pictet Asset Management Holding SA increased its holdings in shares of Zscaler by 25.8% in the fourth quarter. Pictet Asset Management Holding SA now owns 1,618,176 shares of the company’s stock worth $291,935,000 after purchasing an additional 332,307 shares during the last quarter. Artisan Partners Limited Partnership lifted its position in shares of Zscaler by 30.9% in 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 boosted its stake in Zscaler by 66.8% during the fourth quarter. DnB Asset Management AS now owns 667,383 shares of the company’s stock valued at $120,403,000 after buying an additional 267,162 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in Zscaler by 3.2% during the 4th quarter. Bank of New York Mellon Corp now owns 539,113 shares of the company’s stock valued at $97,261,000 after buying an additional 16,742 shares in the last quarter. 46.45% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CFO Remo Canessa sold 3,721 shares of the 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 sale, the chief financial officer now owns 213,702 shares in the company, valued at $42,558,753.30. This represents a 1.71 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Ajay Mangal sold 190,480 shares of the company’s stock in a transaction on Monday, March 17th. The shares were 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 in the company, valued at approximately $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 sold 199,234 shares of company stock worth $39,970,790 in the last three months. Corporate insiders own 18.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. JPMorgan Chase & Co. increased their target price on Zscaler from $240.00 to $250.00 and gave the company an “overweight” rating in a research report on Thursday, March 6th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Zscaler from $200.00 to $225.00 and gave the company a “buy” rating in a research report on Tuesday, December 3rd. BMO Capital Markets boosted their target price on shares of Zscaler from $222.00 to $233.00 and gave the stock an “outperform” rating in a report on Thursday, March 6th. Rosenblatt Securities raised shares of Zscaler from a “neutral” rating to a “buy” rating and increased their price target for the company from $190.00 to $235.00 in a report on Thursday, March 6th. Finally, Barclays reissued an “overweight” rating on shares of Zscaler in a research note on Wednesday, March 5th. Nine equities research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $232.68.

Zscaler Price Performance

Zscaler stock opened at $207.14 on Monday. The business has a fifty day moving average price of $202.08 and a 200-day moving average price of $193.89. Zscaler, Inc. has a 1-year low of $153.45 and a 1-year high of $217.84. The stock has a market capitalization of $32.05 billion, a price-to-earnings ratio of -828.56 and a beta of 0.88.

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.