EverSource Wealth Advisors LLC Reduces Holdings in Zscaler, Inc. (NASDAQ:ZS)

EverSource Wealth Advisors LLC reduced its holdings in shares of Zscaler, Inc. (NASDAQ:ZS) by 48.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 435 shares of the company’s stock after selling 405 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in Zscaler were worth $78,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in ZS. Geode Capital Management LLC grew its holdings in shares of Zscaler by 3.9% during the third quarter. Geode Capital Management LLC now owns 1,625,861 shares of the company’s stock worth $277,327,000 after buying an additional 60,414 shares in the last quarter. Champlain Investment Partners LLC grew its holdings in shares of Zscaler by 28.2% during the third quarter. Champlain Investment Partners LLC now owns 1,289,350 shares of the company’s stock worth $220,401,000 after buying an additional 283,540 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Zscaler by 3.2% during the fourth quarter. Bank of New York Mellon Corp now owns 539,113 shares of the company’s stock worth $97,261,000 after buying an additional 16,742 shares in the last quarter. Westfield Capital Management Co. LP grew its holdings in shares of Zscaler by 33.8% during the third quarter. Westfield Capital Management Co. LP now owns 399,516 shares of the company’s stock worth $68,293,000 after buying an additional 100,814 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. grew its holdings in Zscaler by 11.0% in the third quarter. Nomura Asset Management Co. Ltd. now owns 380,463 shares of the company’s stock valued at $65,036,000 after purchasing an additional 37,801 shares during the period. 46.45% of the stock is currently owned by hedge funds and other institutional investors.

Zscaler Price Performance

ZS stock opened at $201.59 on Wednesday. Zscaler, Inc. has a 1-year low of $153.45 and a 1-year high of $217.84. The firm has a fifty day moving average price of $198.77 and a two-hundred day moving average price of $191.64. The firm has a market cap of $31.19 billion, a price-to-earnings ratio of -806.36 and a beta of 0.88.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on ZS shares. Susquehanna boosted their target price on shares of Zscaler from $210.00 to $225.00 and gave the company a “positive” rating in a report on Tuesday, December 3rd. Royal Bank of Canada boosted their target price on shares of Zscaler from $230.00 to $250.00 and gave the company an “outperform” rating in a report on Thursday, March 6th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Zscaler from $200.00 to $225.00 and gave the company a “buy” rating in a report on Tuesday, December 3rd. Bank of America upgraded shares of Zscaler from a “neutral” rating to a “buy” rating and boosted their target price for the company from $215.00 to $240.00 in a report on Friday, March 7th. Finally, JMP Securities restated a “market outperform” rating and issued a $240.00 target price (down from $270.00) on shares of Zscaler in a report on Tuesday, December 3rd. Nine equities research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $233.06.

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.