TrueMark Investments LLC Reduces Stock Holdings in Zscaler, Inc. (NASDAQ:ZS)

TrueMark Investments LLC lessened its holdings in shares of Zscaler, Inc. (NASDAQ:ZS) by 7.5% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,750 shares of the company’s stock after selling 551 shares during the quarter. TrueMark Investments LLC’s holdings in Zscaler were worth $1,218,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Corebridge Financial Inc. boosted its holdings in 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 purchasing an additional 54 shares during the period. Erste Asset Management GmbH grew its holdings in shares of Zscaler by 0.6% in the fourth quarter. Erste Asset Management GmbH now owns 9,780 shares of the company’s stock worth $1,805,000 after purchasing an additional 56 shares during the last quarter. KRS Capital Management LLC boosted its position in Zscaler by 1.9% during 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 period. Ironwood Investment Management LLC grew its holdings in Zscaler by 1.0% in the 4th quarter. Ironwood Investment Management LLC now owns 6,249 shares of the company’s stock worth $1,127,000 after acquiring an additional 64 shares during the last quarter. Finally, Smartleaf Asset Management LLC increased its position in shares of Zscaler by 16.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 482 shares of the company’s stock valued at $88,000 after acquiring an additional 69 shares during the period. 46.45% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

ZS has been the topic of several recent analyst reports. Guggenheim reissued a “neutral” rating on shares of Zscaler in a research note on Tuesday, December 3rd. UBS Group boosted their target price on Zscaler from $250.00 to $260.00 and gave the company a “buy” rating in a research note on Thursday, March 6th. Jefferies Financial Group raised their price target on Zscaler from $225.00 to $245.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Piper Sandler lifted their price target on shares of Zscaler from $215.00 to $235.00 and gave the company an “overweight” rating in a report on Tuesday, December 3rd. Finally, Scotiabank restated a “sector outperform” rating and issued a $242.00 price objective (up from $225.00) on shares of Zscaler in a report on Wednesday, March 5th. Nine equities research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $232.68.

Insider Activity

In related news, major shareholder Ajay Mangal sold 190,480 shares of the firm’s stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $200.69, for a total value of $38,227,431.20. Following the sale, the insider now owns 2,580,210 shares in the company, valued at approximately $517,822,344.90. This trade represents a 6.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Robert Schlossman sold 2,878 shares of the business’s stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $199.15, for a total transaction of $573,153.70. Following the sale, the insider now owns 107,587 shares of the company’s stock, valued at approximately $21,425,951.05. This represents a 2.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 199,234 shares of company stock valued at $39,970,790 over the last ninety days. 18.10% of the stock is currently owned by corporate insiders.

Zscaler Trading Up 2.8 %

ZS stock opened at $215.73 on Wednesday. The stock’s 50 day simple moving average is $200.82 and its 200 day simple moving average is $192.83. Zscaler, Inc. has a 12-month low of $153.45 and a 12-month high of $217.84. The stock has a market capitalization of $33.38 billion, a PE ratio of -862.92 and a beta of 0.88.

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.