Zscaler, Inc. (NASDAQ:ZS) Shares Sold by Avantax Advisory Services Inc.

Avantax Advisory Services Inc. trimmed its holdings in Zscaler, Inc. (NASDAQ:ZS) by 23.0% in the fourth quarter, Holdings Channel.com reports. The fund owned 3,634 shares of the company’s stock after selling 1,086 shares during the period. Avantax Advisory Services Inc.’s holdings in Zscaler were worth $656,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of ZS. Caprock Group LLC acquired a new stake in Zscaler in the 3rd quarter valued at about $210,000. PNC Financial Services Group Inc. lifted its holdings in Zscaler by 4.4% in the 3rd quarter. PNC Financial Services Group Inc. now owns 7,184 shares of the company’s stock valued at $1,228,000 after acquiring an additional 306 shares during the last quarter. Commerce Bank lifted its holdings in Zscaler by 8.9% in the 3rd quarter. Commerce Bank now owns 1,564 shares of the company’s stock valued at $267,000 after acquiring an additional 128 shares during the last quarter. Advisors Asset Management Inc. lifted its stake in Zscaler by 50.1% during the third quarter. Advisors Asset Management Inc. now owns 4,082 shares of the company’s stock valued at $698,000 after buying an additional 1,363 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Zscaler by 4.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 355,070 shares of the company’s stock valued at $60,696,000 after buying an additional 16,634 shares in the last quarter. 46.45% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Zscaler

In other news, CEO Jagtar Singh Chaudhry sold 2,155 shares of the stock in a transaction that occurred 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 completion of the sale, the chief executive officer now directly owns 356,414 shares of the company’s stock, valued at approximately $70,979,848.10. This represents a 0.60 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 completion of the sale, the insider now directly owns 2,580,210 shares of the company’s stock, valued at $517,822,344.90. This represents a 6.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 199,234 shares of company stock worth $39,970,790 over the last 90 days. Insiders own 18.10% of the company’s stock.

Zscaler Stock Up 0.8 %

Shares of ZS stock opened at $205.20 on Friday. Zscaler, Inc. has a 12 month low of $153.45 and a 12 month high of $217.84. The business’s 50 day moving average is $199.74 and its two-hundred day moving average is $191.84. The company has a market cap of $31.75 billion, a PE ratio of -820.80 and a beta of 0.88.

Analyst Upgrades and Downgrades

A number of analysts have commented on ZS shares. JPMorgan Chase & Co. upped their price objective on shares of Zscaler from $240.00 to $250.00 and gave the company an “overweight” rating in a research note on Thursday, March 6th. Oppenheimer upped their price objective on shares of Zscaler from $230.00 to $250.00 and gave the company an “outperform” rating in a research note on Tuesday, December 3rd. Needham & Company LLC reaffirmed a “buy” rating and set a $240.00 price objective on shares of Zscaler in a research note on Wednesday, March 5th. Piper Sandler upped their price objective on shares of Zscaler from $215.00 to $235.00 and gave the company an “overweight” rating in a research note on Tuesday, December 3rd. Finally, Guggenheim reaffirmed a “neutral” rating on shares of Zscaler in a research note on Tuesday, December 3rd. 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.com, Zscaler has an average rating of “Moderate Buy” and an average price target of $232.68.

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.