TrueMark Investments LLC Has $1.22 Million Stock Position in Zscaler, Inc. (NASDAQ:ZS)

TrueMark Investments LLC cut its stake in shares of Zscaler, Inc. (NASDAQ:ZS) by 7.5% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 6,750 shares of the company’s stock after selling 551 shares during the period. TrueMark Investments LLC’s holdings in Zscaler were worth $1,218,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Fred Alger Management LLC raised its position in shares of Zscaler by 1,151.0% in the third quarter. Fred Alger Management LLC now owns 10,371 shares of the company’s stock valued at $1,773,000 after purchasing an additional 9,542 shares during the period. Nomura Asset Management Co. Ltd. grew its stake in Zscaler by 11.0% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 380,463 shares of the company’s stock valued at $65,036,000 after buying an additional 37,801 shares during the last quarter. Zweig DiMenna Associates LLC grew its stake in Zscaler by 29.8% in the 4th quarter. Zweig DiMenna Associates LLC now owns 77,941 shares of the company’s stock valued at $14,061,000 after buying an additional 17,900 shares during the last quarter. Baader Bank Aktiengesellschaft raised its holdings in Zscaler by 30.3% in the 4th quarter. Baader Bank Aktiengesellschaft now owns 8,400 shares of the company’s stock valued at $1,515,000 after acquiring an additional 1,952 shares during the period. Finally, Benjamin Edwards Inc. acquired a new stake in Zscaler during the third quarter worth approximately $449,000. 46.45% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

ZS has been the topic of a number of research reports. UBS Group upped their price objective on Zscaler from $250.00 to $260.00 and gave the company a “buy” rating in a report on Thursday, March 6th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Zscaler from $200.00 to $225.00 and gave the stock a “buy” rating in a research report on Tuesday, December 3rd. Mizuho boosted their price objective on shares of Zscaler from $210.00 to $225.00 and gave the company a “neutral” rating in a report on Wednesday, February 12th. Wells Fargo & Company raised their target price on shares of Zscaler from $190.00 to $210.00 and gave the stock an “equal weight” rating in a report on Thursday, March 6th. Finally, Royal Bank of Canada boosted their price target on Zscaler from $230.00 to $250.00 and gave the company an “outperform” rating in a research note on Thursday, March 6th. Nine analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $232.68.

Insider Transactions at Zscaler

In other news, major shareholder Ajay Mangal sold 190,480 shares of the company’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 completion of the transaction, the insider now directly owns 2,580,210 shares of the company’s stock, valued at $517,822,344.90. This represents a 6.87 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Jagtar Singh Chaudhry sold 2,155 shares of Zscaler stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $199.15, for a total value of $429,168.25. Following the sale, the chief executive officer now owns 356,414 shares in the company, valued at $70,979,848.10. This trade represents a 0.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders 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 insiders.

Zscaler Price Performance

Shares of NASDAQ ZS opened at $215.73 on Wednesday. Zscaler, Inc. has a 1 year low of $153.45 and a 1 year high of $217.84. The stock has a market capitalization of $33.38 billion, a P/E ratio of -862.92 and a beta of 0.88. The company has a 50-day moving average price of $200.82 and a 200-day moving average price of $192.83.

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.