Envestnet Portfolio Solutions Inc. Takes Position in Zscaler, Inc. (NASDAQ:ZS)

Envestnet Portfolio Solutions Inc. acquired a new position in Zscaler, Inc. (NASDAQ:ZS) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 1,181 shares of the company’s stock, valued at approximately $213,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ZS. Global X Japan Co. Ltd. lifted its stake in Zscaler by 127.4% in the 4th 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 purchased a new stake in shares of Zscaler in the fourth quarter worth about $29,000. Prestige Wealth Management Group LLC purchased a new position in Zscaler during the 3rd quarter valued at approximately $31,000. True Wealth Design LLC increased its stake in Zscaler by 18,500.0% in the 3rd quarter. True Wealth Design LLC now owns 186 shares of the company’s stock worth $32,000 after acquiring an additional 185 shares during the last quarter. Finally, Versant Capital Management Inc increased its stake in 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 acquiring an additional 104 shares during the last quarter. Institutional investors own 46.45% of the company’s stock.

Analyst Upgrades and Downgrades

ZS has been the subject of a number of recent research reports. Needham & Company LLC reissued a “buy” rating and issued a $240.00 target price on shares of Zscaler in a report on Wednesday, March 5th. BMO Capital Markets lifted their price objective on shares of Zscaler from $222.00 to $233.00 and gave the stock an “outperform” rating in a research note on Thursday, March 6th. Rosenblatt Securities upgraded shares of Zscaler from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $190.00 to $235.00 in a report on Thursday, March 6th. Loop Capital lowered their price target on shares of Zscaler from $200.00 to $195.00 and set a “hold” rating for the company in a report on Tuesday, December 3rd. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on Zscaler from $200.00 to $225.00 and gave the stock a “buy” rating in a research note on Tuesday, December 3rd. Nine investment analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $232.68.

Zscaler Trading Down 1.1 %

Shares of NASDAQ ZS opened at $207.14 on Friday. Zscaler, Inc. has a 12-month low of $153.45 and a 12-month high of $217.84. The stock’s fifty day simple moving average is $202.08 and its two-hundred day simple moving average is $193.41. The stock has a market capitalization of $32.05 billion, a PE ratio of -828.56 and a beta of 0.88.

Insider Buying and Selling

In other 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 transaction of $429,168.25. Following the transaction, 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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Ajay Mangal sold 190,480 shares of the firm’s stock in a transaction on Monday, March 17th. The stock was 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. The trade was a 6.87 % 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 three months. 18.10% of the stock is owned by insiders.

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.