Arrowstreet Capital Limited Partnership cut its holdings in Zscaler, Inc. (NASDAQ:ZS - Free Report) by 7.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 324,045 shares of the company's stock after selling 27,044 shares during the period. Arrowstreet Capital Limited Partnership owned 0.21% of Zscaler worth $58,461,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently modified their holdings of ZS. Cerity Partners LLC increased its position in shares of Zscaler by 73.5% during the third quarter. Cerity Partners LLC now owns 10,562 shares of the company's stock worth $1,806,000 after acquiring an additional 4,476 shares during the period. The Manufacturers Life Insurance Company raised its stake in Zscaler by 9.1% in the third quarter. The Manufacturers Life Insurance Company now owns 6,969 shares of the company's stock worth $1,191,000 after buying an additional 581 shares in the last quarter. D.A. Davidson & CO. boosted its position in Zscaler by 27.0% during the third quarter. D.A. Davidson & CO. now owns 1,936 shares of the company's stock valued at $331,000 after purchasing an additional 411 shares in the last quarter. Townsquare Capital LLC grew its position in shares of Zscaler by 236.2% in the 3rd quarter. Townsquare Capital LLC now owns 4,983 shares of the company's stock worth $852,000 after buying an additional 3,501 shares during the last quarter. Finally, Captrust Financial Advisors lifted its holdings in shares of Zscaler by 11.2% during the 3rd quarter. Captrust Financial Advisors now owns 5,024 shares of the company's stock valued at $859,000 after purchasing an additional 504 shares during the last quarter. Institutional investors own 46.45% of the company's stock.
Insider Buying and Selling at Zscaler
In other news, major shareholder Ajay Mangal sold 190,480 shares of the stock in a transaction on 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 $517,822,344.90. This represents a 6.87 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jagtar Singh Chaudhry sold 2,155 shares of Zscaler stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $199.15, for a total value of $429,168.25. Following the completion of the sale, the chief executive officer now directly owns 356,414 shares in the company, valued at $70,979,848.10. This represents a 0.60 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 199,234 shares of company stock valued at $39,970,790. Company insiders own 18.10% of the company's stock.
Wall Street Analyst Weigh In
A number of analysts have commented on the company. Scotiabank reaffirmed a "sector outperform" rating and set a $242.00 price target (up previously from $225.00) on shares of Zscaler in a research report on Wednesday, March 5th. Cantor Fitzgerald raised shares of Zscaler from a "neutral" rating to an "overweight" rating and raised their target price for the stock from $220.00 to $250.00 in a report on Thursday. BTIG Research set a $252.00 price objective on Zscaler and gave the stock a "buy" rating in a research report on Thursday, March 6th. Barclays reissued an "overweight" rating on shares of Zscaler in a research note on Wednesday, March 5th. Finally, Royal Bank of Canada boosted their price target on shares of Zscaler from $230.00 to $250.00 and gave the stock an "outperform" rating in a report on Thursday, March 6th. Eight equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, Zscaler currently has an average rating of "Moderate Buy" and an average target price of $234.94.
Check Out Our Latest Report on ZS
Zscaler Trading Down 7.2 %
Shares of ZS stock traded down $14.83 on Thursday, hitting $192.21. The stock had a trading volume of 3,897,122 shares, compared to its average volume of 1,915,071. Zscaler, Inc. has a twelve month low of $153.45 and a twelve month high of $217.84. The company has a fifty day moving average price of $202.76 and a two-hundred day moving average price of $194.41. The firm has a market cap of $29.74 billion, a P/E ratio of -768.84 and a beta of 1.12.
About Zscaler
(
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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