CIBC Private Wealth Group LLC Purchases 116,167 Shares of Zscaler, Inc. (NASDAQ:ZS)

CIBC Private Wealth Group LLC grew its holdings in shares of Zscaler, Inc. (NASDAQ:ZSFree Report) by 7,456.2% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 117,725 shares of the company’s stock after buying an additional 116,167 shares during the period. CIBC Private Wealth Group LLC’s holdings in Zscaler were worth $26,083,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Belpointe Asset Management LLC bought a new stake in shares of Zscaler in the 4th quarter worth approximately $1,322,000. CIBC Asset Management Inc grew its stake in shares of Zscaler by 4.9% in the fourth quarter. CIBC Asset Management Inc now owns 23,902 shares of the company’s stock worth $5,296,000 after acquiring an additional 1,111 shares during the last quarter. Jones Financial Companies Lllp bought a new position in shares of Zscaler during the fourth quarter valued at $29,000. APG Asset Management US Inc. purchased a new position in shares of Zscaler in the 4th quarter worth about $3,894,000. Finally, California State Teachers Retirement System boosted its stake in Zscaler by 2.9% in the 4th quarter. California State Teachers Retirement System now owns 133,188 shares of the company’s stock worth $29,509,000 after purchasing an additional 3,773 shares in the last quarter. 46.45% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Zscaler news, CFO Remo Canessa sold 7,707 shares of the stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $193.15, for a total transaction of $1,488,607.05. Following the completion of the transaction, the chief financial officer now owns 255,943 shares of the company’s stock, valued at approximately $49,435,390.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Syam Nair sold 2,893 shares of the firm’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $193.15, for a total value of $558,782.95. Following the completion of the transaction, the insider now directly owns 137,294 shares of the company’s stock, valued at $26,518,336.10. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Remo Canessa sold 7,707 shares of the business’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $193.15, for a total transaction of $1,488,607.05. Following the completion of the sale, the chief financial officer now owns 255,943 shares in the company, valued at approximately $49,435,390.45. The disclosure for this sale can be found here. Over the last quarter, insiders sold 12,715 shares of company stock worth $2,455,902. 19.20% of the stock is owned by insiders.

Zscaler Trading Up 3.2 %

ZS stock opened at $174.57 on Thursday. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.98 and a quick ratio of 1.98. Zscaler, Inc. has a 1-year low of $131.59 and a 1-year high of $259.61. The business has a 50 day simple moving average of $177.14 and a two-hundred day simple moving average of $204.59. The company has a market capitalization of $26.17 billion, a price-to-earnings ratio of -342.29 and a beta of 0.85.

Analysts Set New Price Targets

Several research analysts have issued reports on ZS shares. The Goldman Sachs Group lifted their target price on shares of Zscaler from $189.00 to $215.00 and gave the stock a “neutral” rating in a report on Monday, March 4th. JPMorgan Chase & Co. upped their price objective on Zscaler from $200.00 to $205.00 and gave the company a “neutral” rating in a research report on Friday, May 31st. BMO Capital Markets reduced their target price on Zscaler from $255.00 to $192.00 and set an “outperform” rating for the company in a report on Wednesday, May 29th. Barclays upped their price target on Zscaler from $205.00 to $210.00 and gave the company an “overweight” rating in a report on Friday, May 31st. Finally, Wedbush lifted their price objective on Zscaler from $250.00 to $260.00 and gave the stock an “outperform” rating in a report on Friday, March 1st. Seven research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $224.00.

Get Our Latest Research Report on Zscaler

Zscaler Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Zscaler (NASDAQ:ZS)

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