The Manufacturers Life Insurance Company Has $1.13 Million Position in Zscaler, Inc. (NASDAQ:ZS)

The Manufacturers Life Insurance Company cut its holdings in Zscaler, Inc. (NASDAQ:ZS) by 9.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 6,281 shares of the company’s stock after selling 688 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Zscaler were worth $1,133,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the business. Zweig DiMenna Associates LLC increased its stake in shares of 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 buying an additional 17,900 shares during the period. Baader Bank Aktiengesellschaft boosted its holdings in Zscaler by 30.3% in the fourth quarter. Baader Bank Aktiengesellschaft now owns 8,400 shares of the company’s stock valued at $1,515,000 after acquiring an additional 1,952 shares during the last quarter. SYM FINANCIAL Corp acquired a new stake in Zscaler in the fourth quarter worth about $303,000. Merit Financial Group LLC bought a new stake in Zscaler during the 4th quarter worth about $787,000. Finally, Kera Capital Partners Inc. acquired a new position in Zscaler during the 4th quarter valued at about $1,869,000. 46.45% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. The Goldman Sachs Group set a $207.00 price target on shares of Zscaler and gave the stock a “neutral” rating in a research report on Thursday, March 6th. Scotiabank reiterated a “sector outperform” rating and set a $242.00 target price (up previously from $225.00) on shares of Zscaler in a research report on Wednesday, March 5th. BMO Capital Markets raised their price target on Zscaler from $222.00 to $233.00 and gave the stock an “outperform” rating in a research report on Thursday, March 6th. Royal Bank of Canada lifted their price objective on Zscaler from $230.00 to $250.00 and gave the stock an “outperform” rating in a research note on Thursday, March 6th. Finally, Sanford C. Bernstein reissued an “outperform” rating and issued a $244.00 target price on shares of Zscaler in a research note on Thursday, March 6th. Eight equities research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $236.66.

Zscaler Trading Up 1.5%

NASDAQ ZS opened at $245.00 on Wednesday. Zscaler, Inc. has a 12 month low of $153.45 and a 12 month high of $247.28. The stock has a 50 day moving average of $207.39 and a 200-day moving average of $200.84. The company has a market cap of $37.91 billion, a PE ratio of -980.00 and a beta of 1.14.

Insiders Place Their Bets

In related news, insider Robert Schlossman sold 2,878 shares of the business’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 transaction, the insider now directly owns 107,587 shares of the company’s stock, valued at approximately $21,425,951.05. The trade was a 2.61% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Ajay Mangal sold 190,480 shares of the firm’s stock in a transaction on 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 sale, 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. Over the last three months, insiders have sold 209,234 shares of company stock valued at $42,030,790. 18.10% of the stock is currently 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.