Wedbush Securities Inc. Reduces Position in Zscaler, Inc. (NASDAQ:ZS)

Posted by Defense World Staff on Apr 16th, 2023

Wedbush Securities Inc. decreased its holdings in shares of Zscaler, Inc. (NASDAQ:ZS – Get Rating) by 12.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,771 shares of the company’s stock after selling 652 shares during the quarter. Wedbush Securities Inc.’s holdings in Zscaler were worth $534,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of ZS. Vanguard Group Inc. grew its holdings in shares of Zscaler by 2.1% in the third quarter. Vanguard Group Inc. now owns 7,940,800 shares of the company’s stock valued at $1,305,230,000 after purchasing an additional 162,289 shares during the period. Artisan Partners Limited Partnership grew its holdings in shares of Zscaler by 17.0% in the third quarter. Artisan Partners Limited Partnership now owns 1,865,180 shares of the company’s stock valued at $306,580,000 after purchasing an additional 271,360 shares during the period. Renaissance Technologies LLC purchased a new stake in shares of Zscaler in the first quarter valued at about $168,365,000. Legal & General Group Plc grew its holdings in shares of Zscaler by 4.8% in the second quarter. Legal & General Group Plc now owns 622,717 shares of the company’s stock valued at $93,102,000 after purchasing an additional 28,579 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Zscaler by 14.1% in 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 purchasing an additional 68,982 shares during the period. Hedge funds and other institutional investors own 45.33% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. Mizuho dropped their price objective on shares of Zscaler from $160.00 to $150.00 in a report on Friday, March 3rd. Credit Suisse Group dropped their price objective on shares of Zscaler from $275.00 to $165.00 and set an “outperform” rating for the company in a report on Wednesday, March 15th. Wells Fargo & Company decreased their target price on shares of Zscaler from $160.00 to $156.00 and set an “overweight” rating on the stock in a research report on Friday, March 3rd. Cantor Fitzgerald decreased their target price on shares of Zscaler from $160.00 to $140.00 in a research report on Friday, March 3rd. Finally, KGI Securities cut shares of Zscaler from an “outperform” rating to a “neutral” rating in a research report on Wednesday, March 8th. Fourteen investment 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 company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $170.14.

Insiders Place Their Bets

In other Zscaler news, CFO Remo Canessa sold 6,229 shares of the firm’s stock in a transaction that occurred on Thursday, March 16th. The shares were sold at an average price of $106.79, for a total transaction of $665,194.91. Following the sale, the chief financial officer now owns 295,863 shares of the company’s stock, valued at $31,595,209.77. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, insider Robert Schlossman sold 3,645 shares of Zscaler stock in a transaction on Thursday, March 16th. The shares were sold at an average price of $106.79, for a total value of $389,249.55. Following the transaction, the insider now directly owns 132,553 shares of the company’s stock, valued at approximately $14,155,334.87. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Remo Canessa sold 6,229 shares of Zscaler stock in a transaction on Thursday, March 16th. The shares were sold at an average price of $106.79, for a total transaction of $665,194.91. Following the completion of the transaction, the chief financial officer now directly owns 295,863 shares in the company, valued at $31,595,209.77. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 16,412 shares of company stock valued at $1,752,637. 19.80% of the stock is owned by corporate insiders.

Zscaler Stock Down 1.8 %

Shares of Zscaler stock opened at $105.45 on Friday. The company has a quick ratio of 2.01, a current ratio of 2.01 and a debt-to-equity ratio of 2.16. Zscaler, Inc. has a 52-week low of $98.71 and a 52-week high of $231.36. The company has a 50 day moving average of $118.89 and a 200 day moving average of $126.98. The company has a market capitalization of $15.30 billion, a P/E ratio of -46.05 and a beta of 0.85.

About Zscaler

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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.

Wedbush Securities Inc. Reduces Position in Zscaler, Inc. (NASDAQ:ZS)

Analyst Ratings Changes

Insiders Place Their Bets

Zscaler Stock Down 1.8 %

About Zscaler

Further Reading

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