Freestone Capital Holdings LLC Increases Stock Position in Zscaler, Inc. (NASDAQ:ZS)

Freestone Capital Holdings LLC increased its position in shares of Zscaler, Inc. (NASDAQ:ZS) by 13.2% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,150 shares of the company’s stock after buying an additional 250 shares during the quarter. Freestone Capital Holdings LLC’s holdings in Zscaler were worth $388,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of ZS. Global X Japan Co. Ltd. lifted its stake in shares of Zscaler by 127.4% in the 4th quarter. Global X Japan Co. Ltd. now owns 141 shares of the company’s stock worth $25,000 after acquiring an additional 79 shares during the period. Stonebridge Financial Group LLC purchased a new stake in shares of Zscaler during the 4th quarter worth $29,000. Prestige Wealth Management Group LLC acquired a new position in shares of Zscaler during the 3rd quarter worth $31,000. True Wealth Design LLC increased its holdings in shares of Zscaler by 18,500.0% in the 3rd quarter. True Wealth Design LLC now owns 186 shares of the company’s stock valued at $32,000 after purchasing an additional 185 shares in the last quarter. Finally, Versant Capital Management Inc lifted its stake in shares of Zscaler by 136.8% in the fourth quarter. Versant Capital Management Inc now owns 180 shares of the company’s stock valued at $32,000 after purchasing an additional 104 shares during the period. 46.45% of the stock is owned by institutional investors and hedge funds.

Zscaler Trading Up 3.3 %

Shares of ZS opened at $208.76 on Friday. Zscaler, Inc. has a twelve month low of $153.45 and a twelve month high of $217.84. The firm has a market capitalization of $32.03 billion, a P/E ratio of -835.04 and a beta of 0.89. The stock’s fifty day simple moving average is $196.30 and its 200 day simple moving average is $191.65.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on ZS. Piper Sandler increased their target price on shares of Zscaler from $215.00 to $235.00 and gave the company an “overweight” rating in a report on Tuesday, December 3rd. Wells Fargo & Company boosted their target price on Zscaler from $190.00 to $210.00 and gave the stock an “equal weight” rating in a research report on Thursday. Loop Capital dropped their price target on Zscaler from $200.00 to $195.00 and set a “hold” rating for the company in a research report on Tuesday, December 3rd. Jefferies Financial Group boosted their price objective on shares of Zscaler from $225.00 to $245.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Finally, Scotiabank reissued a “sector outperform” rating and issued a $242.00 price objective (up from $225.00) on shares of Zscaler in a research note on Wednesday. Eight research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $234.29.

Insiders Place Their Bets

In other Zscaler news, CEO Jagtar Singh Chaudhry sold 2,863 shares of the company’s stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $200.32, for a total value of $573,516.16. Following the completion of the transaction, the chief executive officer now owns 358,569 shares in the company, valued at $71,828,542.08. This represents a 0.79 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Remo Canessa sold 3,703 shares of Zscaler stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $200.32, for a total transaction of $741,784.96. Following the sale, the chief financial officer now owns 220,635 shares in the company, valued at $44,197,603.20. This represents a 1.65 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 10,248 shares of company stock worth $2,052,879 over the last three months. 18.10% of the stock is owned by insiders.

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.