KCM Investment Advisors LLC Sells 565 Shares of Zscaler, Inc. (NASDAQ:ZS)

KCM Investment Advisors LLC lessened its stake in Zscaler, Inc. (NASDAQ:ZS) by 25.9% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,615 shares of the company’s stock after selling 565 shares during the quarter. KCM Investment Advisors LLC’s holdings in Zscaler were worth $291,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Geode Capital Management LLC increased its stake in Zscaler by 2.0% in the 4th quarter. Geode Capital Management LLC now owns 1,658,406 shares of the company’s stock worth $298,710,000 after acquiring an additional 32,545 shares during the last quarter. Pictet Asset Management Holding SA increased its position in 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 increased its position in 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 purchasing an additional 204,996 shares during the last quarter. DnB Asset Management AS raised 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 purchasing an additional 267,162 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in Zscaler by 3.2% during the fourth quarter. Bank of New York Mellon Corp now owns 539,113 shares of the company’s stock valued at $97,261,000 after purchasing an additional 16,742 shares during the last quarter. Institutional investors own 46.45% of the company’s stock.

Zscaler Trading Down 9.1 %

NASDAQ ZS opened at $174.67 on Monday. Zscaler, Inc. has a 12-month low of $153.45 and a 12-month high of $217.84. The firm’s fifty day simple moving average is $202.38 and its two-hundred day simple moving average is $194.78. The firm has a market capitalization of $27.03 billion, a P/E ratio of -698.68 and a beta of 1.12.

Insider Buying and Selling

In related news, CEO Jagtar Singh Chaudhry sold 2,155 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 $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 represents a 0.60 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Robert Schlossman sold 2,878 shares of Zscaler stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $199.15, for a total value of $573,153.70. Following the sale, the insider now directly owns 107,587 shares of the company’s stock, valued at approximately $21,425,951.05. This represents a 2.61 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 209,234 shares of company stock worth $42,030,790 in the last ninety days. 18.10% of the stock is owned by insiders.

Analyst Ratings Changes

ZS has been the subject of several analyst reports. UBS Group raised their price objective on Zscaler from $250.00 to $260.00 and gave the company a “buy” rating in a research note on Thursday, March 6th. Scotiabank restated a “sector outperform” rating and issued a $242.00 price target (up from $225.00) on shares of Zscaler in a research report on Wednesday, March 5th. Jefferies Financial Group dropped their price objective on shares of Zscaler from $245.00 to $240.00 and set a “buy” rating for the company in a research note on Monday, March 31st. Morgan Stanley started coverage on shares of Zscaler in a research note on Tuesday, March 18th. They issued an “equal weight” rating on the stock. Finally, Rosenblatt Securities upgraded shares of Zscaler from a “neutral” rating to a “buy” rating and upped their price target for the company from $190.00 to $235.00 in a report on Thursday, March 6th. Eight analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $234.94.

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.