Groupama Asset Managment Trims Stock Position in Zscaler, Inc. (NASDAQ:ZS)

Groupama Asset Managment trimmed its holdings in Zscaler, Inc. (NASDAQ:ZS) by 75.9% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 1,002,008 shares of the company’s stock after selling 3,157,158 shares during the period. Zscaler makes up about 1.3% of Groupama Asset Managment’s holdings, making the stock its 18th largest holding. Groupama Asset Managment’s holdings in Zscaler were worth $180,772,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Corebridge Financial Inc. raised its holdings in shares of Zscaler by 0.5% in the 4th quarter. Corebridge Financial Inc. now owns 11,695 shares of the company’s stock valued at $2,110,000 after buying an additional 54 shares during the period. Erste Asset Management GmbH increased its stake in Zscaler by 0.6% in the fourth quarter. Erste Asset Management GmbH now owns 9,780 shares of the company’s stock valued at $1,805,000 after purchasing an additional 56 shares during the last quarter. KRS Capital Management LLC grew its position in shares of Zscaler by 1.9% in the 4th quarter. KRS Capital Management LLC now owns 3,261 shares of the company’s stock valued at $588,000 after buying an additional 60 shares during the last quarter. Ironwood Investment Management LLC increased its position in shares of Zscaler by 1.0% during the fourth quarter. Ironwood Investment Management LLC now owns 6,249 shares of the company’s stock worth $1,127,000 after purchasing an additional 64 shares in the last quarter. Finally, Smartleaf Asset Management LLC increased its position in Zscaler by 16.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 482 shares of the company’s stock worth $88,000 after buying an additional 69 shares during the period. Institutional investors and hedge funds own 46.45% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Citigroup reaffirmed a “buy” rating and issued a $240.00 target price (up from $235.00) on shares of Zscaler in a report on Wednesday, March 5th. Mizuho boosted their target price on shares of Zscaler from $210.00 to $225.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 12th. Wells Fargo & Company raised their price objective on Zscaler from $190.00 to $210.00 and gave the company an “equal weight” rating in a research note on Thursday, March 6th. Morgan Stanley started coverage on shares of Zscaler in a report on Tuesday, March 18th. They set an “equal weight” rating for the company. Finally, JMP Securities reissued a “market outperform” rating and set a $240.00 price objective (down from $270.00) on shares of Zscaler in a research note on Tuesday, December 3rd. Nine equities research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $232.52.

Insider Activity

In other news, CEO Jagtar Singh Chaudhry sold 2,155 shares of the firm’s stock in a transaction that occurred on Tuesday, March 18th. The shares were 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 owns 356,414 shares of the company’s stock, valued at approximately $70,979,848.10. This trade represents a 0.60 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Robert Schlossman sold 2,878 shares of Zscaler stock in a transaction 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 of the company’s stock, valued at approximately $21,425,951.05. This trade represents a 2.61 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 199,234 shares of company stock worth $39,970,790. 18.10% of the stock is currently owned by company insiders.

Zscaler Stock Performance

Shares of NASDAQ:ZS opened at $198.42 on Tuesday. The company has a market cap of $30.70 billion, a P/E ratio of -793.68 and a beta of 0.88. Zscaler, Inc. has a one year low of $153.45 and a one year high of $217.84. The business’s 50-day simple moving average is $202.30 and its 200 day simple moving average is $194.12.

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.