Zscaler, Inc. (NASDAQ:ZS) Shares Sold by Meiji Yasuda Life Insurance Co

Meiji Yasuda Life Insurance Co decreased its stake in shares of Zscaler, Inc. (NASDAQ:ZS) by 1.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,218 shares of the company’s stock after selling 88 shares during the period. Meiji Yasuda Life Insurance Co’s holdings in Zscaler were worth $941,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Geode Capital Management LLC raised its position in Zscaler by 2.0% in the fourth quarter. Geode Capital Management LLC now owns 1,658,406 shares of the company’s stock worth $298,710,000 after acquiring an additional 32,545 shares in the last quarter. Pictet Asset Management Holding SA boosted its holdings in Zscaler by 25.8% during the fourth quarter. Pictet Asset Management Holding SA now owns 1,618,176 shares of the company’s stock worth $291,935,000 after buying an additional 332,307 shares in the last quarter. AQR Capital Management LLC grew its position in Zscaler by 120.1% in the fourth quarter. AQR Capital Management LLC now owns 964,031 shares of the company’s stock worth $173,921,000 after buying an additional 525,956 shares during the last quarter. Artisan Partners Limited Partnership lifted its position in shares of Zscaler by 30.9% during the 4th quarter. Artisan Partners Limited Partnership now owns 868,795 shares of the company’s stock valued at $156,739,000 after acquiring an additional 204,996 shares during the last quarter. Finally, DnB Asset Management AS boosted its stake in shares of Zscaler by 66.8% during the 4th quarter. DnB Asset Management AS now owns 667,383 shares of the company’s stock worth $120,403,000 after acquiring an additional 267,162 shares in the last quarter. 46.45% of the stock is owned by institutional investors and hedge funds.

Zscaler Stock Up 1.5 %

Zscaler stock opened at $230.47 on Friday. Zscaler, Inc. has a 12 month low of $153.45 and a 12 month high of $231.93. The stock has a market cap of $35.66 billion, a price-to-earnings ratio of -921.88 and a beta of 1.12. The business has a 50 day moving average price of $201.65 and a two-hundred day moving average price of $198.37.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Roth Capital began coverage on Zscaler in a report on Wednesday, April 23rd. They set a “neutral” rating and a $215.00 price objective on the stock. Needham & Company LLC restated a “buy” rating and issued a $240.00 target price on shares of Zscaler in a report on Wednesday, March 5th. BTIG Research set a $252.00 price objective on Zscaler and gave the stock a “buy” rating in a research note on Thursday, March 6th. Rosenblatt Securities reaffirmed a “buy” rating and set a $235.00 target price on shares of Zscaler in a research note on Tuesday, April 15th. Finally, Sanford C. Bernstein restated an “outperform” rating and set a $244.00 price target on shares of Zscaler in a report on Thursday, March 6th. Eight equities research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $236.66.

Insider Activity at Zscaler

In other Zscaler news, Director Andrew William Fraser Brown sold 10,000 shares of Zscaler stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $206.00, for a total transaction of $2,060,000.00. Following the completion of the transaction, the director now directly owns 27,216 shares of the company’s stock, valued at approximately $5,606,496. This trade represents a 26.87 % decrease in their ownership of the stock. The sale was disclosed in a legal filing 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 dated Tuesday, March 18th. The stock was sold at an average price of $199.15, for a total transaction of $573,153.70. Following the completion of the sale, the insider now directly owns 107,587 shares in the company, 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. Over the last ninety days, insiders sold 209,234 shares of company stock worth $42,030,790. 18.10% of the stock is owned by corporate insiders.

Zscaler Company Profile

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.