Brown Brothers Harriman & Co. Grows Holdings in Zscaler, Inc. (NASDAQ:ZS)

Brown Brothers Harriman & Co. boosted its holdings in Zscaler, Inc. (NASDAQ:ZS) by 315.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 685 shares of the company’s stock after purchasing an additional 520 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in Zscaler were worth $124,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the stock. Global X Japan Co. Ltd. lifted its position in shares of Zscaler by 127.4% during the fourth 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 stake in Zscaler during the fourth quarter valued at $29,000. Prestige Wealth Management Group LLC acquired a new stake in Zscaler during the third quarter worth about $31,000. Versant Capital Management Inc lifted its holdings in shares of Zscaler by 136.8% in the 4th quarter. Versant Capital Management Inc now owns 180 shares of the company’s stock worth $32,000 after purchasing an additional 104 shares during the last quarter. Finally, Modus Advisors LLC bought a new position in shares of Zscaler during the fourth quarter worth about $36,000. 46.45% of the stock is currently owned by hedge funds and other institutional investors.

Zscaler Trading Up 1.3 %

Shares of NASDAQ:ZS opened at $201.07 on Wednesday. Zscaler, Inc. has a 12 month low of $153.45 and a 12 month high of $217.84. The company has a 50-day moving average price of $202.49 and a 200-day moving average price of $194.34. The company has a market cap of $31.11 billion, a price-to-earnings ratio of -804.28 and a beta of 0.88.

Insider Transactions at Zscaler

In other news, major shareholder Ajay Mangal sold 190,480 shares of the stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $200.69, for a total value of $38,227,431.20. Following the transaction, the insider now owns 2,580,210 shares in the company, valued at $517,822,344.90. This represents a 6.87 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Robert Schlossman sold 2,878 shares of the company’s stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $199.15, for a total value of $573,153.70. Following the completion of the sale, the insider now owns 107,587 shares of the company’s stock, valued at $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 quarter, insiders sold 199,234 shares of company stock valued at $39,970,790. Corporate insiders own 18.10% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on ZS shares. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Zscaler from $200.00 to $225.00 and gave the stock a “buy” rating in a report on Tuesday, December 3rd. Barclays reissued an “overweight” rating on shares of Zscaler in a research report on Wednesday, March 5th. BTIG Research set a $252.00 price target on shares of Zscaler and gave the company a “buy” rating in a report on Thursday, March 6th. The Goldman Sachs Group set a $207.00 price objective on shares of Zscaler and gave the stock a “neutral” rating in a report on Thursday, March 6th. Finally, Canaccord Genuity Group lifted their target price on shares of Zscaler from $220.00 to $230.00 and gave the stock a “buy” rating in a report on Tuesday, December 3rd. Nine investment analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $232.35.

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.