Evoke Wealth LLC Invests $221,000 in Zscaler, Inc. (NASDAQ:ZS)

Evoke Wealth LLC acquired a new stake in shares of Zscaler, Inc. (NASDAQ:ZS) during the 4th quarter, HoldingsChannel reports. The institutional investor acquired 1,223 shares of the company’s stock, valued at approximately $221,000.

A number of other large investors also recently bought and sold shares of ZS. Champlain Investment Partners LLC boosted its holdings in Zscaler by 28.2% in the third quarter. Champlain Investment Partners LLC now owns 1,289,350 shares of the company’s stock worth $220,401,000 after acquiring an additional 283,540 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in Zscaler in the 4th quarter worth approximately $28,072,000. Westfield Capital Management Co. LP grew its position in Zscaler by 33.8% during the 3rd quarter. Westfield Capital Management Co. LP now owns 399,516 shares of the company’s stock worth $68,293,000 after purchasing an additional 100,814 shares during the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of Zscaler by 59.7% in the fourth quarter. Assenagon Asset Management S.A. now owns 190,794 shares of the company’s stock worth $34,421,000 after buying an additional 71,297 shares during the last quarter. Finally, Thematics Asset Management lifted its stake in shares of Zscaler by 88.5% during the third quarter. Thematics Asset Management now owns 147,000 shares of the company’s stock worth $25,128,000 after buying an additional 69,000 shares during the period. Institutional investors own 46.45% of the company’s stock.

Insider Activity at Zscaler

In other Zscaler news, major shareholder Ajay Mangal sold 190,480 shares of Zscaler stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $200.69, for a total transaction of $38,227,431.20. Following the transaction, the insider now directly owns 2,580,210 shares of the company’s stock, valued at $517,822,344.90. The trade was a 6.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 18.10% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on ZS shares. Morgan Stanley started coverage on shares of Zscaler in a research note on Tuesday. They set an “equal weight” rating for the company. Guggenheim reiterated a “neutral” rating on shares of Zscaler in a research note on Tuesday, December 3rd. UBS Group boosted their target price on shares of Zscaler from $250.00 to $260.00 and gave the company a “buy” rating in a research report on Thursday, March 6th. JPMorgan Chase & Co. boosted their target price on shares of Zscaler from $240.00 to $250.00 and gave the company an “overweight” rating in a research report on Thursday, March 6th. Finally, Scotiabank restated a “sector outperform” rating and set a $242.00 target price (up from $225.00) on shares of Zscaler in a research report on Wednesday, March 5th. Nine investment analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. According to data from MarketBeat, Zscaler presently has an average rating of “Moderate Buy” and an average target price of $232.68.

Zscaler Stock Up 1.2 %

ZS stock opened at $203.95 on Thursday. The stock has a market capitalization of $31.56 billion, a P/E ratio of -815.80 and a beta of 0.88. The firm has a 50-day simple moving average of $199.11 and a 200-day simple moving average of $191.72. Zscaler, Inc. has a 52 week low of $153.45 and a 52 week high of $217.84.

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.