Edmond DE Rothschild Holding S.A. Sells 416,037 Shares of Zscaler, Inc. (NASDAQ:ZS)

Edmond DE Rothschild Holding S.A. trimmed its holdings in shares of Zscaler, Inc. (NASDAQ:ZS) by 99.7% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,367 shares of the company’s stock after selling 416,037 shares during the period. Edmond DE Rothschild Holding S.A.’s holdings in Zscaler were worth $247,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of the stock. The Manufacturers Life Insurance Company grew its stake in shares of Zscaler by 9.1% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 6,969 shares of the company’s stock valued at $1,191,000 after buying an additional 581 shares during the period. D.A. Davidson & CO. grew its stake in Zscaler by 27.0% in the third quarter. D.A. Davidson & CO. now owns 1,936 shares of the company’s stock valued at $331,000 after acquiring an additional 411 shares during the period. Captrust Financial Advisors increased its holdings in shares of Zscaler by 11.2% during the third quarter. Captrust Financial Advisors now owns 5,024 shares of the company’s stock valued at $859,000 after acquiring an additional 504 shares in the last quarter. Erste Asset Management GmbH acquired a new position in shares of Zscaler during the third quarter worth approximately $1,670,000. Finally, Benjamin Edwards Inc. bought a new position in shares of Zscaler in the 3rd quarter worth $449,000. Institutional investors and hedge funds own 46.45% of the company’s stock.

Insider Activity at Zscaler

In related news, CEO Jagtar Singh Chaudhry sold 2,155 shares of the business’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 $429,168.25. Following the completion of the transaction, the chief executive officer now directly owns 356,414 shares in the company, valued at $70,979,848.10. The trade was a 0.60 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Robert Schlossman sold 2,878 shares of the firm’s stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $199.15, for a total value 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 90 days, insiders sold 199,234 shares of company stock valued at $39,970,790. Corporate insiders own 18.10% of the company’s stock.

Zscaler Stock Up 3.0 %

Shares of ZS opened at $207.04 on Thursday. Zscaler, Inc. has a twelve month low of $153.45 and a twelve month high of $217.84. The stock has a market cap of $32.03 billion, a PE ratio of -828.16 and a beta of 1.12. The business’s 50-day moving average price is $202.77 and its 200-day moving average price is $194.42.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on ZS shares. Bank of America upgraded shares of Zscaler from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $215.00 to $240.00 in a report on Friday, March 7th. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $244.00 price target on shares of Zscaler in a research report on Thursday, March 6th. Jefferies Financial Group cut their price target on Zscaler from $245.00 to $240.00 and set a “buy” rating for the company in a research note on Monday. The Goldman Sachs Group set a $207.00 price objective on Zscaler and gave the stock a “neutral” rating in a research note on Thursday, March 6th. Finally, Wedbush lifted their target price on Zscaler from $230.00 to $240.00 and gave the company an “outperform” rating in a research report on Thursday, March 6th. Nine investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $232.35.

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.