Zscaler, Inc. (NASDAQ:ZS) Shares Sold by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA decreased its position in shares of Zscaler, Inc. (NASDAQ:ZS - Free Report) by 21.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 99,598 shares of the company's stock after selling 26,966 shares during the quarter. Massachusetts Financial Services Co. MA owned 0.06% of Zscaler worth $17,968,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Nomura Asset Management Co. Ltd. increased its stake in shares of Zscaler by 11.0% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 380,463 shares of the company's stock valued at $65,036,000 after purchasing an additional 37,801 shares in the last quarter. Zweig DiMenna Associates LLC raised its stake in shares of Zscaler by 29.8% during the 4th quarter. Zweig DiMenna Associates LLC now owns 77,941 shares of the company's stock worth $14,061,000 after buying an additional 17,900 shares during the period. Baader Bank Aktiengesellschaft grew its stake in Zscaler by 30.3% in the 4th quarter. Baader Bank Aktiengesellschaft now owns 8,400 shares of the company's stock valued at $1,515,000 after acquiring an additional 1,952 shares during the period. Benjamin Edwards Inc. purchased a new stake in Zscaler in the 3rd quarter worth $449,000. Finally, Everence Capital Management Inc. acquired a new position in Zscaler during the fourth quarter worth $565,000. 46.45% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Andrew William Fraser Brown sold 10,000 shares of Zscaler stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $206.00, for a total value of $2,060,000.00. Following the sale, the director now owns 27,216 shares of the company's stock, valued at $5,606,496. The trade was a 26.87 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Ajay Mangal sold 190,480 shares of the company's stock in a transaction on Monday, March 17th. The stock was sold at an average price of $200.69, for a total transaction of $38,227,431.20. Following the transaction, the insider now directly owns 2,580,210 shares in the company, valued at approximately $517,822,344.90. This trade represents a 6.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 209,234 shares of company stock valued at $42,030,790 in the last ninety days. Insiders own 18.10% of the company's stock.

Remove Ads

Zscaler Stock Up 1.4 %

Zscaler stock traded up $2.72 during trading on Friday, reaching $198.08. The stock had a trading volume of 2,313,728 shares, compared to its average volume of 1,976,077. The business has a 50 day moving average price of $200.88 and a 200 day moving average price of $195.31. The stock has a market cap of $30.65 billion, a PE ratio of -792.32 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

A number of analysts have recently commented on the stock. Rosenblatt Securities raised shares of Zscaler from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $190.00 to $235.00 in a research note on Thursday, March 6th. Cantor Fitzgerald raised Zscaler from a "neutral" rating to an "overweight" rating and increased their target price for the company from $220.00 to $250.00 in a report on Thursday, April 3rd. Mizuho lifted their price target on Zscaler from $210.00 to $225.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 12th. Bank of America raised shares of Zscaler from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $215.00 to $240.00 in a research note on Friday, March 7th. Finally, Royal Bank of Canada increased their price target on Zscaler from $230.00 to $250.00 and gave the company an "outperform" rating in a report on Thursday, March 6th. Eight 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 data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $234.94.

Zscaler Company 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.