2,658 Shares in Zscaler, Inc. (NASDAQ:ZS) Acquired by Allstate Corp

Allstate Corp acquired a new position in shares of Zscaler, Inc. (NASDAQ:ZS) in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 2,658 shares of the company’s stock, valued at approximately $480,000.

Several other large investors have also recently added to or reduced their stakes in ZS. Nomura Asset Management Co. Ltd. boosted its position in shares of Zscaler by 11.0% during the third quarter. Nomura Asset Management Co. Ltd. now owns 380,463 shares of the company’s stock worth $65,036,000 after buying an additional 37,801 shares during the period. Zweig DiMenna Associates LLC boosted its position in Zscaler by 29.8% during the 4th quarter. Zweig DiMenna Associates LLC now owns 77,941 shares of the company’s stock worth $14,061,000 after acquiring an additional 17,900 shares during the period. Baader Bank Aktiengesellschaft grew its stake in shares of Zscaler by 30.3% in the fourth quarter. Baader Bank Aktiengesellschaft now owns 8,400 shares of the company’s stock worth $1,515,000 after purchasing an additional 1,952 shares in the last quarter. Benjamin Edwards Inc. acquired a new position in shares of Zscaler during the third quarter valued at $449,000. Finally, Everence Capital Management Inc. bought a new stake in shares of Zscaler during the fourth quarter valued at about $565,000. 46.45% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on ZS shares. Loop Capital decreased their target price on shares of Zscaler from $200.00 to $195.00 and set a “hold” rating for the company in a research report on Tuesday, December 3rd. Mizuho raised their price objective on shares of Zscaler from $210.00 to $225.00 and gave the company a “neutral” rating in a research note on Wednesday, February 12th. Stephens initiated coverage on Zscaler in a research report on Tuesday. They issued an “overweight” rating and a $255.00 target price for the company. JMP Securities reiterated a “market outperform” rating and set a $240.00 price target (down from $270.00) on shares of Zscaler in a research report on Tuesday, December 3rd. Finally, JPMorgan Chase & Co. upped their price objective on Zscaler from $240.00 to $250.00 and gave the company an “overweight” rating in a report on Thursday, March 6th. Nine research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $232.35.

Zscaler Stock Up 1.3 %

Shares of NASDAQ:ZS opened at $201.07 on Wednesday. The business has a 50 day moving average price of $202.49 and a 200 day moving average price of $194.34. Zscaler, Inc. has a twelve month low of $153.45 and a twelve month high of $217.84. The company has a market cap of $31.11 billion, a price-to-earnings ratio of -804.28 and a beta of 0.88.

Insiders Place Their Bets

In other news, CEO Jagtar Singh Chaudhry sold 2,155 shares of Zscaler stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $199.15, for a total value of $429,168.25. Following the completion of the transaction, the chief executive officer now owns 356,414 shares in the company, valued at approximately $70,979,848.10. The trade was a 0.60 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Remo Canessa sold 3,721 shares of the stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $199.15, for a total value of $741,037.15. Following the sale, the chief financial officer now owns 213,702 shares in the company, valued at approximately $42,558,753.30. This trade represents a 1.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 199,234 shares of company stock worth $39,970,790. 18.10% of the stock is currently owned by company 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.