Orion Portfolio Solutions LLC Cuts Stock Position in Zscaler, Inc. (NASDAQ:ZS)

Orion Portfolio Solutions LLC trimmed its position in shares of Zscaler, Inc. (NASDAQ:ZS) by 9.1% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,331 shares of the company’s stock after selling 133 shares during the quarter. Orion Portfolio Solutions LLC’s holdings in Zscaler were worth $240,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the company. Zweig DiMenna Associates LLC increased its position in Zscaler by 29.8% during 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 in the last quarter. Baader Bank Aktiengesellschaft increased its holdings in shares of Zscaler by 30.3% during the fourth 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 in the last quarter. Everence Capital Management Inc. purchased a new position in shares of Zscaler in the 4th quarter valued at approximately $565,000. SYM FINANCIAL Corp purchased a new stake in Zscaler during the 4th quarter worth approximately $303,000. Finally, Merit Financial Group LLC purchased a new stake in Zscaler during the 4th quarter worth approximately $787,000. 46.45% of the stock is currently owned by institutional investors.

Insider Transactions at Zscaler

In related news, Director Andrew William Fraser Brown sold 10,000 shares of Zscaler stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $206.00, for a total transaction of $2,060,000.00. Following the transaction, the director now owns 27,216 shares in the company, valued at approximately $5,606,496. This trade represents a 26.87 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Robert Schlossman sold 2,878 shares of the business’s stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $199.15, for a total value of $573,153.70. Following the transaction, the insider now directly owns 107,587 shares in the company, valued at $21,425,951.05. This trade represents a 2.61 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 209,234 shares of company stock valued at $42,030,790 over the last 90 days. 18.10% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Wells Fargo & Company lifted their price objective on shares of Zscaler from $190.00 to $210.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 6th. Morgan Stanley assumed coverage on Zscaler in a research note on Tuesday, March 18th. They set an “equal weight” rating on the stock. Stephens started coverage on Zscaler in a research note on Tuesday, April 1st. They issued an “overweight” rating and a $255.00 price objective for the company. UBS Group upped their target price on Zscaler from $250.00 to $260.00 and gave the company a “buy” rating in a research report on Thursday, March 6th. Finally, BTIG Research set a $252.00 price target on shares of Zscaler and gave the stock a “buy” rating in a research report on Thursday, March 6th. Eight analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $234.94.

Zscaler Stock Performance

NASDAQ ZS opened at $195.36 on Friday. The business has a fifty day moving average price of $201.00 and a 200 day moving average price of $195.13. The company has a market cap of $30.23 billion, a P/E ratio of -781.44 and a beta of 1.12. Zscaler, Inc. has a one year low of $153.45 and a one year 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.