Magnetar Financial LLC Takes $293,000 Position in Zscaler, Inc. (NASDAQ:ZS)

Magnetar Financial LLC purchased a new stake in Zscaler, Inc. (NASDAQ:ZS - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 1,623 shares of the company's stock, valued at approximately $293,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Champlain Investment Partners LLC raised its position in Zscaler by 28.2% in the 3rd quarter. Champlain Investment Partners LLC now owns 1,289,350 shares of the company's stock worth $220,401,000 after purchasing an additional 283,540 shares during the period. Raymond James Financial Inc. purchased a new position in Zscaler during the 4th quarter valued at $28,072,000. Trivest Advisors Ltd grew its stake in Zscaler by 95.3% in the fourth quarter. Trivest Advisors Ltd now owns 250,000 shares of the company's stock worth $45,102,000 after purchasing an additional 122,000 shares during the period. Westfield Capital Management Co. LP increased its stake in shares of Zscaler by 33.8% during the third quarter. Westfield Capital Management Co. LP now owns 399,516 shares of the company's stock valued at $68,293,000 after purchasing an additional 100,814 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its position in Zscaler by 59.7% during the 4th quarter. Assenagon Asset Management S.A. now owns 190,794 shares of the company's stock valued at $34,421,000 after purchasing an additional 71,297 shares during the last quarter. Hedge funds and other institutional investors own 46.45% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on ZS shares. Oppenheimer boosted their price objective on shares of Zscaler from $230.00 to $250.00 and gave the stock an "outperform" rating in a report on Tuesday, December 3rd. The Goldman Sachs Group set a $207.00 target price on shares of Zscaler and gave the company a "neutral" rating in a research report on Thursday, March 6th. Susquehanna boosted their price target on Zscaler from $210.00 to $225.00 and gave the company a "positive" rating in a report on Tuesday, December 3rd. Loop Capital lowered their price objective on Zscaler from $200.00 to $195.00 and set a "hold" rating on the stock in a research report on Tuesday, December 3rd. Finally, Piper Sandler lifted their price target on shares of Zscaler from $215.00 to $235.00 and gave the company an "overweight" rating in a report on Tuesday, December 3rd. Nine analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. According to MarketBeat.com, Zscaler presently has an average rating of "Moderate Buy" and a consensus target price of $232.68.

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Zscaler Trading Down 1.0 %

Shares of NASDAQ ZS traded down $2.10 during trading on Thursday, reaching $209.45. 1,624,746 shares of the company traded hands, compared to its average volume of 1,865,838. 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 $32.41 billion, a P/E ratio of -837.80 and a beta of 0.88. The firm's fifty day simple moving average is $201.26 and its 200 day simple moving average is $192.96.

Insider Activity at Zscaler

In related news, major shareholder Ajay Mangal sold 190,480 shares of the company's 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 transaction, the insider now owns 2,580,210 shares in the company, valued at $517,822,344.90. This represents a 6.87 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jagtar Singh Chaudhry sold 2,155 shares of the business'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 value of $429,168.25. Following the sale, the chief executive officer now owns 356,414 shares of the company's stock, valued at $70,979,848.10. The trade was a 0.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 199,234 shares of company stock worth $39,970,790 in the last three months. Company insiders own 18.10% of the company's stock.

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.