Zscaler, Inc. (NASDAQ:ZS) Shares Acquired by Summit Investment Advisors Inc.

Summit Investment Advisors Inc. increased its stake in Zscaler, Inc. (NASDAQ:ZS) by 7.3% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,881 shares of the company’s stock after purchasing an additional 333 shares during the quarter. Summit Investment Advisors Inc.’s holdings in Zscaler were worth $881,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Global X Japan Co. Ltd. increased its position in shares of Zscaler by 127.4% in the fourth quarter. Global X Japan Co. Ltd. now owns 141 shares of the company’s stock valued at $25,000 after buying an additional 79 shares in the last quarter. Summit Securities Group LLC purchased a new position in Zscaler during the 4th quarter valued at about $27,000. Stonebridge Financial Group LLC acquired a new position in Zscaler during the fourth quarter worth about $29,000. Versant Capital Management Inc lifted its holdings in shares of Zscaler by 136.8% in the fourth quarter. Versant Capital Management Inc now owns 180 shares of the company’s stock valued at $32,000 after purchasing an additional 104 shares in the last quarter. Finally, Modus Advisors LLC acquired a new stake in shares of Zscaler in the fourth quarter valued at approximately $36,000. Hedge funds and other institutional investors own 46.45% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on ZS shares. Robert W. Baird upped their target price on Zscaler from $240.00 to $250.00 and gave the company an “outperform” rating in a research note on Thursday, March 6th. Rosenblatt Securities reaffirmed a “buy” rating and set a $235.00 price objective on shares of Zscaler in a research note on Tuesday. Mizuho upped their target price on shares of Zscaler from $210.00 to $225.00 and gave the company a “neutral” rating in a report on Wednesday, February 12th. Citigroup reiterated a “buy” rating and set a $240.00 price target (up from $235.00) on shares of Zscaler in a report on Wednesday, March 5th. Finally, UBS Group upped their price objective on shares of Zscaler from $250.00 to $260.00 and gave the company a “buy” rating in a research note on Thursday, March 6th. Eight equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $234.77.

Zscaler Stock Performance

Shares of NASDAQ:ZS opened at $201.09 on Friday. The business’s 50-day simple moving average is $200.50 and its 200 day simple moving average is $195.99. The company has a market cap of $31.11 billion, a P/E ratio of -804.36 and a beta of 1.12. Zscaler, Inc. has a one year low of $153.45 and a one year high of $217.84.

Insider Buying and Selling at Zscaler

In other news, CEO Jagtar Singh Chaudhry sold 2,155 shares of the firm’s stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $199.15, for a total transaction of $429,168.25. Following the completion of the sale, the chief executive officer now directly owns 356,414 shares in the company, valued at $70,979,848.10. This trade represents a 0.60 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Ajay Mangal sold 190,480 shares of the stock in a transaction dated 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 transaction, 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 position. The disclosure for this sale can be found here. Insiders sold 209,234 shares of company stock valued at $42,030,790 over the last 90 days. 18.10% of the stock is owned by corporate 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.