Envestnet Asset Management Inc. Acquires 12,531 Shares of Zscaler, Inc. (NASDAQ:ZS)

Envestnet Asset Management Inc. increased its holdings in Zscaler, Inc. (NASDAQ:ZS) by 96.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 25,579 shares of the company’s stock after buying an additional 12,531 shares during the period. Envestnet Asset Management Inc.’s holdings in Zscaler were worth $4,615,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Geode Capital Management LLC boosted its holdings in shares of 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 during the period. Pictet Asset Management Holding SA boosted its stake in Zscaler by 25.8% in the 4th quarter. Pictet Asset Management Holding SA now owns 1,618,176 shares of the company’s stock worth $291,935,000 after purchasing an additional 332,307 shares during the period. Artisan Partners Limited Partnership grew its holdings in 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 buying an additional 204,996 shares in the last quarter. DnB Asset Management AS increased its position in shares of Zscaler by 66.8% during the fourth quarter. DnB Asset Management AS now owns 667,383 shares of the company’s stock valued at $120,403,000 after buying an additional 267,162 shares during the period. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Zscaler by 3.2% in the fourth quarter. Bank of New York Mellon Corp now owns 539,113 shares of the company’s stock worth $97,261,000 after buying an additional 16,742 shares in the last quarter. 46.45% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on ZS. UBS Group upped their target price on shares of Zscaler from $250.00 to $260.00 and gave the stock a “buy” rating in a report on Thursday, March 6th. Cantor Fitzgerald upgraded Zscaler from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $220.00 to $250.00 in a research report on Thursday, April 3rd. Jefferies Financial Group reduced their target price on Zscaler from $245.00 to $240.00 and set a “buy” rating for the company in a research report on Monday, March 31st. Royal Bank of Canada upped their target price on Zscaler from $230.00 to $250.00 and gave the stock an “outperform” rating in a research note on Thursday, March 6th. Finally, Wedbush lifted their price target on Zscaler from $230.00 to $240.00 and gave the company an “outperform” rating in a research report on Thursday, March 6th. Eight research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $234.77.

Zscaler Trading Up 1.5 %

Zscaler stock opened at $196.52 on Wednesday. Zscaler, Inc. has a 12 month low of $153.45 and a 12 month high of $217.84. The business’s fifty day simple moving average is $199.62 and its two-hundred day simple moving average is $196.74. The company has a market capitalization of $30.41 billion, a price-to-earnings ratio of -786.08 and a beta of 1.12.

Insiders Place Their Bets

In related news, major shareholder Ajay Mangal sold 190,480 shares of the stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $200.69, for a total transaction of $38,227,431.20. Following the transaction, the insider now owns 2,580,210 shares in the company, valued at $517,822,344.90. This represents a 6.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Robert Schlossman sold 2,878 shares of the firm’s stock in a transaction that occurred on 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 owns 107,587 shares in the company, valued at $21,425,951.05. This represents 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 valued at $42,030,790. Insiders own 18.10% of the company’s stock.

Zscaler 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.