Allstate Corp Acquires Shares of 2,658 Zscaler, Inc. (NASDAQ:ZS)

Allstate Corp bought a new stake in shares of Zscaler, Inc. (NASDAQ:ZS) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund bought 2,658 shares of the company’s stock, valued at approximately $480,000.

A number of other large investors also recently made changes to their positions in the stock. Global X Japan Co. Ltd. boosted its stake in Zscaler by 127.4% during the 4th quarter. Global X Japan Co. Ltd. now owns 141 shares of the company’s stock worth $25,000 after acquiring an additional 79 shares during the last quarter. Stonebridge Financial Group LLC bought a new position in shares of Zscaler during the fourth quarter worth $29,000. Prestige Wealth Management Group LLC acquired a new position in shares of Zscaler in the 3rd quarter valued at $31,000. Versant Capital Management Inc increased its position in shares of Zscaler by 136.8% in the 4th quarter. Versant Capital Management Inc now owns 180 shares of the company’s stock valued at $32,000 after buying an additional 104 shares in the last quarter. Finally, Modus Advisors LLC acquired a new stake in Zscaler during the 4th quarter worth $36,000. Institutional investors and hedge funds own 46.45% of the company’s stock.

Zscaler Stock Up 1.3 %

Shares of NASDAQ ZS opened at $201.07 on Wednesday. Zscaler, Inc. has a twelve month low of $153.45 and a twelve month high of $217.84. The company has a market cap of $31.11 billion, a PE ratio of -804.28 and a beta of 0.88. The business’s 50 day moving average price is $202.49 and its two-hundred day moving average price is $194.34.

Insider Buying and Selling

In related 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 completion of the sale, the insider now owns 2,580,210 shares of the company’s stock, valued at approximately $517,822,344.90. The trade was a 6.87 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Remo Canessa sold 3,721 shares of the stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $199.15, for a total transaction of $741,037.15. Following the completion of the transaction, the chief financial officer now directly owns 213,702 shares in the company, valued at approximately $42,558,753.30. This represents a 1.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 199,234 shares of company stock valued at $39,970,790. 18.10% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on ZS. JPMorgan Chase & Co. increased their price target on Zscaler from $240.00 to $250.00 and gave the stock an “overweight” rating in a report on Thursday, March 6th. Bank of America raised Zscaler from a “neutral” rating to a “buy” rating and increased their target price for the stock from $215.00 to $240.00 in a research note on Friday, March 7th. Needham & Company LLC reaffirmed a “buy” rating and issued a $240.00 price target on shares of Zscaler in a research note on Wednesday, March 5th. Royal Bank of Canada increased their price objective on shares of Zscaler from $230.00 to $250.00 and gave the stock an “outperform” rating in a research report on Thursday, March 6th. Finally, BMO Capital Markets boosted their price objective on shares of Zscaler from $222.00 to $233.00 and gave the company an “outperform” rating in a research report on Thursday, March 6th. Nine investment analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $232.35.

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.