UBS Asset Management Americas Inc. Sells 29,103 Shares of Zscaler, Inc. (NASDAQ:ZS)

Posted by Defense World Staff on Mar 13th, 2023

UBS Asset Management Americas Inc. decreased its stake in shares of Zscaler, Inc. (NASDAQ:ZS – Get Rating) by 8.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 326,231 shares of the company’s stock after selling 29,103 shares during the period. UBS Asset Management Americas Inc. owned about 0.23% of Zscaler worth $53,623,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. grew its stake in Zscaler by 14.1% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 557,345 shares of the company’s stock valued at $134,476,000 after acquiring an additional 68,982 shares in the last quarter. AlphaCrest Capital Management LLC purchased a new position in Zscaler during the first quarter valued at $244,000. D.A. Davidson & CO. grew its stake in Zscaler by 41.6% during the first quarter. D.A. Davidson & CO. now owns 1,130 shares of the company’s stock valued at $273,000 after acquiring an additional 332 shares in the last quarter. MetLife Investment Management LLC purchased a new position in shares of Zscaler in the 1st quarter worth $1,232,000. Finally, Dimensional Fund Advisors LP grew its stake in shares of Zscaler by 1.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 121,598 shares of the company’s stock worth $29,338,000 after buying an additional 2,153 shares in the last quarter. Institutional investors own 45.33% of the company’s stock.

Zscaler Trading Down 4.5 %

NASDAQ ZS opened at $105.45 on Monday. The company has a quick ratio of 2.01, a current ratio of 2.01 and a debt-to-equity ratio of 2.16. The firm has a market cap of $15.30 billion, a PE ratio of -46.05 and a beta of 0.88. The company has a 50 day moving average price of $122.73 and a 200 day moving average price of $136.54. Zscaler, Inc. has a 52 week low of $99.64 and a 52 week high of $253.74.

Insider Buying and Selling

In other Zscaler news, insider Robert Schlossman sold 5,081 shares of the company’s stock in a transaction that occurred on Friday, December 16th. The shares were sold at an average price of $114.14, for a total transaction of $579,945.34. Following the transaction, the insider now owns 136,198 shares in the company, valued at approximately $15,545,639.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Zscaler news, insider Robert Schlossman sold 5,081 shares of the company’s stock in a transaction that occurred on Friday, December 16th. The shares were sold at an average price of $114.14, for a total transaction of $579,945.34. Following the transaction, the insider now owns 136,198 shares in the company, valued at approximately $15,545,639.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Dali Rajic sold 7,113 shares of the company’s stock in a transaction that occurred on Friday, December 16th. The shares were sold at an average price of $114.14, for a total transaction of $811,877.82. Following the transaction, the chief operating officer now owns 296,820 shares in the company, valued at approximately $33,879,034.80. The disclosure for this sale can be found here. Insiders sold a total of 19,735 shares of company stock worth $2,252,553 in the last 90 days. 19.80% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts have commented on ZS shares. Needham & Company LLC reissued a “strong-buy” rating and issued a $210.00 price objective on shares of Zscaler in a research note on Monday, February 27th. Morgan Stanley cut shares of Zscaler from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $162.00 to $120.00 in a research note on Thursday, January 12th. Robert W. Baird dropped their price objective on shares of Zscaler from $220.00 to $180.00 and set an “outperform” rating for the company in a research note on Monday, December 5th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Zscaler from $190.00 to $140.00 in a report on Monday, January 23rd. Finally, Barclays lowered their target price on shares of Zscaler from $143.00 to $135.00 in a report on Friday, March 3rd. Thirteen research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $174.44.

Zscaler Company Profile

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Zscaler, Inc engages in the provision of a cloud-based internet security platform. It offers Zero Trust Exchange, Zscaler Client Connector, Zscaler Internet Access, Zscaler Private Access, Zscaler B2B, Zscaler Cloud Protection, and Zscaler Digital Experience. The company was founded by Jagtar Singh Chaudhry and K.