Value Star Asset Management Hong Kong Ltd reduced its holdings in shares of Zscaler, Inc. (NASDAQ:ZS – Free Report) by 50.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,000 shares of the company’s stock after selling 5,000 shares during the period. Zscaler comprises 3.0% of Value Star Asset Management Hong Kong Ltd’s portfolio, making the stock its 10th largest holding. Value Star Asset Management Hong Kong Ltd’s holdings in Zscaler were worth $1,498,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in the business. Ontario Teachers Pension Plan Board bought a new stake in shares of Zscaler during the 3rd quarter valued at $19,902,000. NewEdge Wealth LLC lifted its position in Zscaler by 14.7% during the third quarter. NewEdge Wealth LLC now owns 1,998 shares of the company’s stock valued at $647,000 after purchasing an additional 256 shares in the last quarter. Essex Financial Services Inc. lifted its position in Zscaler by 16.2% during the third quarter. Essex Financial Services Inc. now owns 1,532 shares of the company’s stock valued at $459,000 after purchasing an additional 214 shares in the last quarter. NEOS Investment Management LLC grew its holdings in Zscaler by 78.5% during the third quarter. NEOS Investment Management LLC now owns 46,417 shares of the company’s stock valued at $13,909,000 after purchasing an additional 20,416 shares during the period. Finally, Rothschild Investment LLC increased its position in Zscaler by 31,500.0% in the third quarter. Rothschild Investment LLC now owns 1,580 shares of the company’s stock worth $473,000 after buying an additional 1,575 shares in the last quarter. 46.45% of the stock is currently owned by institutional investors.
Zscaler Price Performance
Shares of NASDAQ:ZS traded up $2.77 during midday trading on Friday, reaching $171.76. 91,309 shares of the company’s stock traded hands, compared to its average volume of 2,092,339. The company has a fifty day simple moving average of $208.26 and a two-hundred day simple moving average of $260.39. Zscaler, Inc. has a 1 year low of $162.87 and a 1 year high of $336.99. The company has a market cap of $27.39 billion, a P/E ratio of -658.69, a PEG ratio of 350.89 and a beta of 1.02. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.82 and a current ratio of 1.82.
Insiders Place Their Bets
In related news, insider Adam Geller sold 1,620 shares of the stock in a transaction that occurred on Wednesday, December 17th. The stock was sold at an average price of $232.79, for a total value of $377,119.80. Following the completion of the sale, the insider owned 50,528 shares of the company’s stock, valued at approximately $11,762,413.12. This trade represents a 3.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Robert Schlossman sold 2,349 shares of the business’s stock in a transaction on Wednesday, December 17th. The stock was sold at an average price of $232.79, for a total value of $546,823.71. Following the transaction, the insider directly owned 74,653 shares in the company, valued at $17,378,471.87. This trade represents a 3.05% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 19,350 shares of company stock valued at $4,471,509. Insiders own 17.20% of the company’s stock.
Wall Street Analyst Weigh In
ZS has been the topic of a number of analyst reports. Citigroup lowered their price objective on Zscaler from $350.00 to $305.00 and set a “buy” rating on the stock in a research report on Tuesday, January 13th. Citizens Jmp reissued a “market outperform” rating and issued a $355.00 target price on shares of Zscaler in a report on Wednesday, November 26th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Zscaler in a report on Wednesday, January 21st. Robert W. Baird upped their price target on shares of Zscaler from $350.00 to $360.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 26th. Finally, Macquarie Infrastructure started coverage on shares of Zscaler in a research note on Friday, October 31st. They issued an “outperform” rating and a $390.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, thirty-three have issued a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $307.14.
Get Our Latest Research Report on ZS
Zscaler Profile
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.
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