Congress Wealth Management LLC DE Takes Position in Zscaler, Inc. (NASDAQ:ZS)

Congress Wealth Management LLC DE purchased a new position in shares of Zscaler, Inc. (NASDAQ:ZS) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 1,227 shares of the company’s stock, valued at approximately $221,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Raymond James Financial Inc. purchased a new stake in shares of Zscaler during the fourth quarter worth $28,072,000. Trivest Advisors Ltd grew its stake in Zscaler by 95.3% during the 4th quarter. Trivest Advisors Ltd now owns 250,000 shares of the company’s stock valued at $45,102,000 after acquiring an additional 122,000 shares in the last quarter. Assenagon Asset Management S.A. raised its holdings in Zscaler by 59.7% in the 4th quarter. Assenagon Asset Management S.A. now owns 190,794 shares of the company’s stock valued at $34,421,000 after acquiring an additional 71,297 shares during the last quarter. Geode Capital Management LLC lifted its stake in Zscaler by 3.9% in the 3rd quarter. Geode Capital Management LLC now owns 1,625,861 shares of the company’s stock worth $277,327,000 after purchasing an additional 60,414 shares in the last quarter. Finally, Tredje AP fonden boosted its holdings in shares of Zscaler by 379.2% during the 4th quarter. Tredje AP fonden now owns 69,670 shares of the company’s stock worth $12,569,000 after purchasing an additional 55,130 shares during the last quarter. 46.45% of the stock is owned by hedge funds and other institutional investors.

Zscaler Stock Performance

Shares of Zscaler stock opened at $207.14 on Monday. The business has a 50-day simple moving average of $202.08 and a 200-day simple moving average of $193.89. The company has a market cap of $32.05 billion, a PE ratio of -828.56 and a beta of 0.88. Zscaler, Inc. has a one year low of $153.45 and a one year high of $217.84.

Insiders Place Their Bets

In other Zscaler news, CEO Jagtar Singh Chaudhry sold 2,155 shares of the firm’s stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $199.15, for a total transaction of $429,168.25. Following the sale, the chief executive officer now owns 356,414 shares of the company’s stock, valued at approximately $70,979,848.10. This trade represents a 0.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Robert Schlossman sold 2,878 shares of the company’s stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $199.15, for a total transaction of $573,153.70. Following the completion of the transaction, the insider now owns 107,587 shares of the company’s stock, valued at approximately $21,425,951.05. The trade was a 2.61 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 199,234 shares of company stock worth $39,970,790 in the last 90 days. Corporate insiders own 18.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Rosenblatt Securities upgraded Zscaler from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $190.00 to $235.00 in a research report on Thursday, March 6th. Needham & Company LLC reissued a “buy” rating and set a $240.00 price target on shares of Zscaler in a research report on Wednesday, March 5th. Wedbush raised their price objective on shares of Zscaler from $230.00 to $240.00 and gave the stock an “outperform” rating in a research report on Thursday, March 6th. Wells Fargo & Company boosted their target price on shares of Zscaler from $190.00 to $210.00 and gave the company an “equal weight” rating in a report on Thursday, March 6th. Finally, Guggenheim restated a “neutral” rating on shares of Zscaler in a report on Tuesday, December 3rd. Nine analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Zscaler currently has an average rating of “Moderate Buy” and an average price target of $232.68.

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.