Marshall Wace LLP Lowers Position in Zscaler, Inc. (NASDAQ:ZS)

Marshall Wace LLP cut its position in shares of Zscaler, Inc. (NASDAQ:ZS - Free Report) by 2.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 396,079 shares of the company's stock after selling 8,651 shares during the quarter. Marshall Wace LLP owned about 0.26% of Zscaler worth $71,457,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Global X Japan Co. Ltd. boosted its holdings in Zscaler by 127.4% in the fourth quarter. Global X Japan Co. Ltd. now owns 141 shares of the company's stock worth $25,000 after acquiring an additional 79 shares in the last quarter. Summit Securities Group LLC bought a new stake in Zscaler during the 4th quarter valued at $27,000. Stonebridge Financial Group LLC acquired a new position in Zscaler during the fourth quarter worth $29,000. Versant Capital Management Inc grew its holdings in shares of Zscaler by 136.8% during the fourth quarter. Versant Capital Management Inc now owns 180 shares of the company's stock valued at $32,000 after buying an additional 104 shares during the last quarter. Finally, Modus Advisors LLC bought a new stake in shares of Zscaler during the fourth quarter worth about $36,000. 46.45% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently commented on ZS. Rosenblatt Securities reissued a "buy" rating and issued a $235.00 price objective on shares of Zscaler in a research note on Tuesday, April 15th. JPMorgan Chase & Co. lifted their price objective on shares of Zscaler from $240.00 to $250.00 and gave the stock an "overweight" rating in a report on Thursday, March 6th. BTIG Research set a $252.00 price target on shares of Zscaler and gave the stock a "buy" rating in a report on Thursday, March 6th. Barclays reissued an "overweight" rating on shares of Zscaler in a research report on Wednesday, March 5th. Finally, Cantor Fitzgerald upgraded Zscaler from a "neutral" rating to an "overweight" rating and lifted their price target for the stock from $220.00 to $250.00 in a report on Thursday, April 3rd. Eight analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Zscaler has a consensus rating of "Moderate Buy" and a consensus target price of $234.77.

Insider Activity at Zscaler

In other news, Director Andrew William Fraser Brown sold 10,000 shares of the business's stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $206.00, for a total value of $2,060,000.00. Following the completion of the transaction, the director now owns 27,216 shares in the company, valued at $5,606,496. The trade was a 26.87 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Robert Schlossman sold 2,878 shares of Zscaler stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $199.15, for a total value of $573,153.70. Following the completion of the sale, the insider now owns 107,587 shares of the company's stock, valued at $21,425,951.05. The trade was a 2.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 209,234 shares of company stock worth $42,030,790 in the last three months. 18.10% of the stock is owned by insiders.

Zscaler Stock Performance

Shares of ZS stock traded up $1.92 on Tuesday, hitting $195.62. 272,782 shares of the company's stock traded hands, compared to its average volume of 1,970,636. The company's fifty day simple moving average is $199.99 and its 200 day simple moving average is $196.74. Zscaler, Inc. has a one year low of $153.45 and a one year high of $217.84. The stock has a market capitalization of $30.27 billion, a price-to-earnings ratio of -781.88 and a beta of 1.12.

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.