Groupama Asset Managment Decreases Stock Holdings in Zscaler, Inc. (NASDAQ:ZS)

Groupama Asset Managment cut its holdings in shares of Zscaler, Inc. (NASDAQ:ZS) by 75.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,002,008 shares of the company’s stock after selling 3,157,158 shares during the period. Zscaler accounts for approximately 1.3% of Groupama Asset Managment’s investment portfolio, making the stock its 18th biggest holding. Groupama Asset Managment owned about 0.65% of Zscaler worth $180,772,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Cerity Partners LLC boosted its stake in Zscaler by 73.5% in the 3rd quarter. Cerity Partners LLC now owns 10,562 shares of the company’s stock worth $1,806,000 after purchasing an additional 4,476 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of Zscaler by 9.1% in the third quarter. The Manufacturers Life Insurance Company now owns 6,969 shares of the company’s stock worth $1,191,000 after buying an additional 581 shares during the last quarter. D.A. Davidson & CO. lifted its stake in shares of Zscaler by 27.0% during the third quarter. D.A. Davidson & CO. now owns 1,936 shares of the company’s stock worth $331,000 after buying an additional 411 shares during the period. Townsquare Capital LLC grew its holdings in shares of Zscaler by 236.2% during the third quarter. Townsquare Capital LLC now owns 4,983 shares of the company’s stock valued at $852,000 after buying an additional 3,501 shares during the last quarter. Finally, Captrust Financial Advisors grew 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 buying an additional 504 shares during the last quarter. Hedge funds and other institutional investors own 46.45% of the company’s stock.

Insider Buying and Selling at Zscaler

In other Zscaler news, CEO Jagtar Singh Chaudhry sold 2,155 shares of the stock in a transaction dated 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 sale, the chief executive officer now owns 356,414 shares in the company, valued at approximately $70,979,848.10. This represents a 0.60 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Ajay Mangal sold 190,480 shares of the business’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $200.69, for a total value of $38,227,431.20. Following the transaction, the insider now owns 2,580,210 shares in the company, valued at approximately $517,822,344.90. This represents a 6.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 199,234 shares of company stock worth $39,970,790. Corporate insiders own 18.10% of the company’s stock.

Zscaler Price Performance

NASDAQ ZS opened at $198.42 on Tuesday. The stock’s 50 day simple moving average is $202.30 and its 200-day simple moving average is $194.12. The company has a market cap of $30.70 billion, a PE ratio of -793.68 and a beta of 0.88. Zscaler, Inc. has a 1-year low of $153.45 and a 1-year high of $217.84.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. KeyCorp boosted their price target on Zscaler from $245.00 to $250.00 and gave the company an “overweight” rating in a research note on Tuesday, December 3rd. Deutsche Bank Aktiengesellschaft upped their target price on Zscaler from $200.00 to $225.00 and gave the company a “buy” rating in a research report on Tuesday, December 3rd. JPMorgan Chase & Co. raised their price target on shares of Zscaler from $240.00 to $250.00 and gave the stock an “overweight” rating in a research report on Thursday, March 6th. BTIG Research set a $252.00 price objective on shares of Zscaler and gave the company a “buy” rating in a report on Thursday, March 6th. Finally, Jefferies Financial Group cut their price objective on shares of Zscaler from $245.00 to $240.00 and set a “buy” rating on the stock in a research note on Monday. Nine analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $232.52.

About Zscaler

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.