Freestone Capital Holdings LLC Grows Holdings in Zscaler, Inc. (NASDAQ:ZS)

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

Several other institutional investors have also recently added to or reduced their stakes in the stock. Global X Japan Co. Ltd. raised 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 valued at $25,000 after purchasing an additional 79 shares in the last quarter. Stonebridge Financial Group LLC bought a new stake in shares of Zscaler in the 4th quarter valued at approximately $29,000. Prestige Wealth Management Group LLC bought a new position in Zscaler during the third quarter worth $31,000. True Wealth Design LLC lifted its stake in Zscaler by 18,500.0% during the third quarter. True Wealth Design LLC now owns 186 shares of the company’s stock worth $32,000 after purchasing an additional 185 shares during the last quarter. Finally, Versant Capital Management Inc boosted its holdings in Zscaler by 136.8% in the fourth quarter. Versant Capital Management Inc now owns 180 shares of the company’s stock worth $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 Price Performance

Shares of ZS opened at $208.76 on Friday. 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 $32.03 billion, a P/E ratio of -835.04 and a beta of 0.89. The firm’s 50 day moving average is $196.30 and its 200-day moving average is $191.65.

Wall Street Analyst Weigh In

ZS has been the topic of a number of recent research reports. Rosenblatt Securities upgraded shares of Zscaler from a “neutral” rating to a “buy” rating and raised their price target for the stock from $190.00 to $235.00 in a research report on Thursday. Deutsche Bank Aktiengesellschaft lifted their target price on Zscaler from $200.00 to $225.00 and gave the company a “buy” rating in a research note on Tuesday, December 3rd. Bank of America raised Zscaler from a “neutral” rating to a “buy” rating and upped their target price for the company from $215.00 to $240.00 in a report on Friday. Oppenheimer raised their price target on Zscaler from $230.00 to $250.00 and gave the stock an “outperform” rating in a report on Tuesday, December 3rd. Finally, Jefferies Financial Group upped their price objective on Zscaler from $225.00 to $245.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Eight research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $234.29.

Insiders Place Their Bets

In other news, CFO Remo Canessa sold 3,703 shares of Zscaler stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $200.32, for a total transaction of $741,784.96. Following the transaction, the chief financial officer now owns 220,635 shares in the company, valued at approximately $44,197,603.20. The trade was a 1.65 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Syam Nair sold 3,682 shares of the stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $200.32, for a total value of $737,578.24. Following the completion of the sale, the insider now directly owns 142,866 shares of the company’s stock, valued at approximately $28,618,917.12. This represents a 2.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 10,248 shares of company stock worth $2,052,879. 18.10% of the stock is owned by 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.