NEOS Investment Management LLC increased its position in shares of Zscaler, Inc. (NASDAQ:ZS - Free Report) by 15.5% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 9,209 shares of the company's stock after purchasing an additional 1,238 shares during the quarter. NEOS Investment Management LLC's holdings in Zscaler were worth $1,661,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. lifted its holdings in shares of Zscaler by 4.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 355,070 shares of the company's stock valued at $60,696,000 after purchasing an additional 16,634 shares in the last quarter. Cerity Partners LLC lifted its stake in Zscaler by 73.5% in the 3rd quarter. Cerity Partners LLC now owns 10,562 shares of the company's stock valued at $1,806,000 after buying an additional 4,476 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in Zscaler by 9.1% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 6,969 shares of the company's stock valued at $1,191,000 after buying an additional 581 shares during the last quarter. D.A. Davidson & CO. increased 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 worth $331,000 after buying an additional 411 shares in the last quarter. Finally, Townsquare Capital LLC raised its holdings in shares of Zscaler by 236.2% in the third quarter. Townsquare Capital LLC now owns 4,983 shares of the company's stock worth $852,000 after acquiring an additional 3,501 shares during the last quarter. 46.45% of the stock is currently owned by hedge funds and other institutional investors.
Zscaler Price Performance
ZS traded up $2.65 during trading hours on Tuesday, reaching $201.07. 1,909,979 shares of the stock traded hands, compared to its average volume of 1,903,400. Zscaler, Inc. has a fifty-two week low of $153.45 and a fifty-two week high of $217.84. The company has a market cap of $31.11 billion, a price-to-earnings ratio of -804.28 and a beta of 0.88. The firm's fifty day simple moving average is $202.30 and its two-hundred day simple moving average is $194.12.
Insider Buying and Selling at Zscaler
In other Zscaler news, major shareholder Ajay Mangal sold 190,480 shares of the company's stock in a transaction that occurred on 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 transaction, the insider now directly owns 2,580,210 shares of the company's stock, valued at $517,822,344.90. This represents a 6.87 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at 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 sale, the insider now directly owns 107,587 shares of the company's stock, valued at $21,425,951.05. The trade was a 2.61 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 199,234 shares of company stock valued at $39,970,790 in the last ninety days. Insiders own 18.10% of the company's stock.
Wall Street Analysts Forecast Growth
ZS has been the subject of a number of recent research reports. Loop Capital dropped their price objective on Zscaler from $200.00 to $195.00 and set a "hold" rating for the company in a research report on Tuesday, December 3rd. 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. Jefferies Financial Group reduced 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. Wedbush lifted their target price on shares of Zscaler from $230.00 to $240.00 and gave the stock an "outperform" rating in a research note on Thursday, March 6th. Finally, JPMorgan Chase & Co. boosted their price target on Zscaler from $240.00 to $250.00 and gave the company an "overweight" rating in a report on Thursday, March 6th. Nine research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $233.22.
Get Our Latest Report on ZS
Zscaler Company Profile
(
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.
Further Reading
Before you consider Zscaler, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Zscaler wasn't on the list.
While Zscaler currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
MarketBeat just released its list of 10 cheap stocks that have been overlooked by the market and may be seriously undervalued. Enter your email address and below to see which companies made the list.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
