Everest Management Corp. Takes $268,000 Position in Zscaler, Inc. (NASDAQ:ZS)

Everest Management Corp. purchased a new stake in Zscaler, Inc. (NASDAQ:ZS - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 1,486 shares of the company's stock, valued at approximately $268,000.

A number of other institutional investors also recently modified their holdings of ZS. Pictet Asset Management Holding SA lifted its position in Zscaler by 25.8% during the 4th quarter. Pictet Asset Management Holding SA now owns 1,618,176 shares of the company's stock worth $291,935,000 after buying an additional 332,307 shares in the last quarter. DnB Asset Management AS increased its position in shares of Zscaler by 66.8% in the fourth quarter. DnB Asset Management AS now owns 667,383 shares of the company's stock valued at $120,403,000 after acquiring an additional 267,162 shares during the last quarter. Artisan Partners Limited Partnership raised its holdings in Zscaler by 30.9% during the fourth quarter. Artisan Partners Limited Partnership now owns 868,795 shares of the company's stock worth $156,739,000 after acquiring an additional 204,996 shares in the last quarter. Norges Bank acquired a new position in Zscaler during the fourth quarter valued at approximately $32,158,000. Finally, Raymond James Financial Inc. bought a new position in Zscaler in the fourth quarter valued at approximately $28,072,000. 46.45% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Zscaler

In other news, major shareholder Ajay Mangal sold 190,480 shares of the stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $200.69, for a total value 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. This represents a 6.87 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Robert Schlossman sold 2,878 shares of the firm's stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $199.15, for a total transaction of $573,153.70. Following the transaction, the insider now owns 107,587 shares of the company's stock, valued at approximately $21,425,951.05. The trade was a 2.61 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 209,234 shares of company stock worth $42,030,790 over the last quarter. Corporate insiders own 18.10% of the company's stock.

Zscaler Trading Down 0.9 %

Zscaler stock traded down $1.78 during midday trading on Friday, reaching $201.09. The company's stock had a trading volume of 1,785,102 shares, compared to its average volume of 1,980,127. The business has a 50-day moving average price of $200.34 and a 200-day moving average price of $196.23. The stock has a market cap of $31.11 billion, a PE ratio of -804.36 and a beta of 1.12. Zscaler, Inc. has a 52 week low of $153.45 and a 52 week high of $217.84.

Analyst Ratings Changes

ZS has been the subject of several recent analyst reports. Sanford C. Bernstein reissued an "outperform" rating and issued a $244.00 price objective on shares of Zscaler in a report on Thursday, March 6th. Jefferies Financial Group lowered their price objective on shares of Zscaler from $245.00 to $240.00 and set a "buy" rating on the stock in a research note on Monday, March 31st. Rosenblatt Securities reiterated a "buy" rating and set a $235.00 price target on shares of Zscaler in a report on Tuesday. Cantor Fitzgerald upgraded Zscaler from a "neutral" rating to an "overweight" rating and lifted their target price for the stock from $220.00 to $250.00 in a research note on Thursday, April 3rd. Finally, BTIG Research set a $252.00 price target on Zscaler and gave the company a "buy" rating in a report 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. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $234.77.

Zscaler Profile

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.