Abacus FCF Advisors LLC Boosts Stake in Zscaler, Inc. (NASDAQ:ZS)

Abacus FCF Advisors LLC lifted its stake in Zscaler, Inc. (NASDAQ:ZS - Free Report) by 77.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,643 shares of the company's stock after purchasing an additional 6,835 shares during the period. Abacus FCF Advisors LLC's holdings in Zscaler were worth $2,822,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Krane Funds Advisors LLC purchased a new stake in Zscaler in the 4th quarter worth approximately $220,000. Cerity Partners LLC increased its stake in shares of Zscaler by 116.4% in the fourth quarter. Cerity Partners LLC now owns 22,860 shares of the company's stock worth $4,117,000 after purchasing an additional 12,298 shares in the last quarter. Aster Capital Management DIFC Ltd bought a new stake in shares of Zscaler during the 4th quarter valued at $94,000. Sepio Capital LP lifted its stake in shares of Zscaler by 5.7% during the 4th quarter. Sepio Capital LP now owns 8,764 shares of the company's stock valued at $1,581,000 after buying an additional 475 shares in the last quarter. Finally, MIG Capital LLC bought a new position in Zscaler in the 4th quarter worth $329,000. 46.45% of the stock is owned by institutional investors.

Zscaler Price Performance

Shares of ZS traded up $2.72 during mid-day trading on Friday, reaching $198.08. 2,313,728 shares of the company's stock traded hands, compared to its average volume of 1,979,159. Zscaler, Inc. has a 12 month low of $153.45 and a 12 month high of $217.84. The stock has a market cap of $30.65 billion, a P/E ratio of -792.32 and a beta of 1.12. The stock's 50-day moving average is $200.88 and its two-hundred day moving average is $195.48.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Bank of America upgraded Zscaler from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $215.00 to $240.00 in a research report on Friday, March 7th. Wells Fargo & Company boosted their price target on Zscaler from $190.00 to $210.00 and gave the stock an "equal weight" rating in a report on Thursday, March 6th. UBS Group increased their price objective on shares of Zscaler from $250.00 to $260.00 and gave the company a "buy" rating in a report on Thursday, March 6th. Stephens began coverage on shares of Zscaler in a report on Tuesday, April 1st. They issued an "overweight" rating and a $255.00 target price on the stock. Finally, JPMorgan Chase & Co. raised their target price on shares of Zscaler from $240.00 to $250.00 and gave the company an "overweight" rating in a research note on Thursday, March 6th. Eight investment 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 company. Based on data from MarketBeat, Zscaler has an average rating of "Moderate Buy" and a consensus target price of $234.94.

Insider Buying and Selling at Zscaler

In other news, CEO Jagtar Singh Chaudhry sold 2,155 shares of Zscaler stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $199.15, for a total transaction of $429,168.25. Following the completion of the sale, the chief executive officer now owns 356,414 shares of the company's stock, valued at approximately $70,979,848.10. The trade was a 0.60 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Robert Schlossman sold 2,878 shares of Zscaler stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $199.15, for a total value of $573,153.70. Following the sale, the insider now directly owns 107,587 shares of the company's stock, valued at approximately $21,425,951.05. This trade represents a 2.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 209,234 shares of company stock valued at $42,030,790 in the last quarter. 18.10% of the stock is owned by insiders.

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.