UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Reduces Stock Position in Zscaler, Inc. $ZS

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC reduced its position in shares of Zscaler, Inc. (NASDAQ:ZS) by 11.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,731,190 shares of the company’s stock after selling 233,924 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Zscaler were worth $244,357,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Binnacle Investments Inc purchased a new stake in shares of Zscaler in the 3rd quarter worth about $25,000. AlphaCentric Advisors LLC bought a new stake in shares of Zscaler in the 4th quarter worth approximately $29,000. University of Texas Texas AM Investment Management Co. purchased a new stake in shares of Zscaler in the fourth quarter worth $30,000. Mcguire Capital Advisors Inc. purchased a new stake in Zscaler during the 4th quarter valued at about $32,000. Finally, Strive Financial Group LLC purchased a new stake in shares of Zscaler during the fourth quarter valued at approximately $39,000. Hedge funds and other institutional investors own 46.45% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Jagtar Singh Chaudhry sold 2,878 shares of the stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $126.43, for a total transaction of $363,865.54. Following the completion of the sale, the chief executive officer owned 343,038 shares in the company, valued at approximately $43,370,294.34. This trade represents a 0.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Adam Geller sold 2,817 shares of Zscaler stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $122.60, for a total value of $345,364.20. Following the sale, the insider directly owned 42,314 shares in the company, valued at $5,187,696.40. This trade represents a 6.24% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 16,772 shares of company stock worth $2,139,799. Company insiders own 17.20% of the company’s stock.

Zscaler Price Performance

NASDAQ:ZS opened at $188.38 on Tuesday. The company has a quick ratio of 1.86, a current ratio of 1.86 and a debt-to-equity ratio of 0.72. The business’s 50-day simple moving average is $157.48 and its two-hundred day simple moving average is $150.33. The stock has a market cap of $30.46 billion, a PE ratio of -392.45, a P/E/G ratio of 108.43 and a beta of 0.94. Zscaler, Inc. has a 52 week low of $114.63 and a 52 week high of $336.99.

Wall Street Analyst Weigh In

Several research firms recently commented on ZS. TD Cowen lifted their price objective on Zscaler from $180.00 to $200.00 and gave the stock a “buy” rating in a report on Monday, August 17th. Sanford C. Bernstein decreased their target price on Zscaler from $228.00 to $224.00 and set an “outperform” rating on the stock in a report on Wednesday, May 27th. Wedbush reaffirmed an “outperform” rating and set a $220.00 price objective on shares of Zscaler in a research report on Wednesday, June 10th. Stifel Nicolaus boosted their price objective on Zscaler from $175.00 to $200.00 and gave the company a “buy” rating in a research note on Wednesday, August 19th. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $200.00 target price on shares of Zscaler in a report on Wednesday, June 10th. Thirty-four equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $216.18.

About Zscaler

Zscaler is a cloud security company that delivers a cloud-native platform to protect users, applications and data as organizations move away from traditional, network-centric security architectures. The company focuses on a zero trust approach that assumes no implicit trust for users or devices, providing secure access to the internet, SaaS applications and private applications regardless of where users are located. Zscaler positions its services as an alternative to legacy appliances and site-centric VPNs, aiming to simplify security while enabling modern, distributed workforces.

Key offerings are built around the Zscaler Zero Trust Exchange, a multi-tenant cloud platform that enforces security and access policies in-line.