Zscaler, Inc. (NASDAQ:ZS) Shares Purchased by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. boosted its stake in Zscaler, Inc. (NASDAQ:ZS) by 6.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 377,725 shares of the company’s stock after acquiring an additional 22,655 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.25% of Zscaler worth $68,145,000 as of its most recent filing with the SEC.

Other institutional investors have also recently added to or reduced their stakes in the company. Fred Alger Management LLC grew its stake in Zscaler by 1,151.0% in the 3rd quarter. Fred Alger Management LLC now owns 10,371 shares of the company’s stock valued at $1,773,000 after acquiring an additional 9,542 shares during the period. Nomura Asset Management Co. Ltd. lifted its holdings in Zscaler by 11.0% in the 3rd 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 in the last quarter. Zweig DiMenna Associates LLC lifted its holdings in Zscaler by 29.8% in the 4th quarter. Zweig DiMenna Associates LLC now owns 77,941 shares of the company’s stock valued at $14,061,000 after purchasing an additional 17,900 shares in the last quarter. Baader Bank Aktiengesellschaft lifted its holdings in Zscaler by 30.3% in the 4th quarter. Baader Bank Aktiengesellschaft now owns 8,400 shares of the company’s stock valued at $1,515,000 after purchasing an additional 1,952 shares in the last quarter. Finally, Benjamin Edwards Inc. purchased a new position in Zscaler in the 3rd quarter valued at $449,000. Institutional investors and hedge funds own 46.45% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on ZS shares. Piper Sandler raised their price objective on Zscaler from $215.00 to $235.00 and gave the company an “overweight” rating in a report on Tuesday, December 3rd. Guggenheim restated a “neutral” rating on shares of Zscaler in a report on Tuesday, December 3rd. Canaccord Genuity Group raised their price objective on Zscaler from $220.00 to $230.00 and gave the company a “buy” rating in a report on Tuesday, December 3rd. Sanford C. Bernstein restated an “outperform” rating on shares of Zscaler in a report on Thursday, March 6th. Finally, Cantor Fitzgerald upgraded Zscaler to a “hold” rating in a report on Monday, November 18th. Nine investment analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $233.88.

Insider Buying and Selling at Zscaler

In other news, CEO Jagtar Singh Chaudhry sold 2,863 shares of the business’s stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $200.32, for a total transaction of $573,516.16. Following the completion of the transaction, the chief executive officer now directly owns 358,569 shares of the company’s stock, valued at approximately $71,828,542.08. The trade was a 0.79 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Syam Nair sold 3,682 shares of the business’s stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $200.32, for a total value of $737,578.24. Following the transaction, the insider now directly owns 142,866 shares of the company’s stock, valued at approximately $28,618,917.12. This represents a 2.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 10,248 shares of company stock valued at $2,052,879 in the last three months. 18.10% of the stock is owned by corporate insiders.

Zscaler Price Performance

NASDAQ ZS opened at $199.36 on Wednesday. The company has a market cap of $30.59 billion, a P/E ratio of -797.44 and a beta of 0.88. The stock has a 50-day moving average of $197.39 and a two-hundred day moving average of $191.62. Zscaler, Inc. has a 1-year low of $153.45 and a 1-year high of $217.84.

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.