Price T Rowe Associates Inc. MD Decreases Position in Zscaler, Inc. (NASDAQ:ZS)

Price T Rowe Associates Inc. MD lowered its stake in shares of Zscaler, Inc. (NASDAQ:ZS - Free Report) by 16.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 847,826 shares of the company's stock after selling 169,330 shares during the quarter. Price T Rowe Associates Inc. MD owned 0.55% of Zscaler worth $152,957,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Zweig DiMenna Associates LLC increased its position in shares of Zscaler by 29.8% in the 4th quarter. Zweig DiMenna Associates LLC now owns 77,941 shares of the company's stock valued at $14,061,000 after purchasing an additional 17,900 shares during the last quarter. Baader Bank Aktiengesellschaft increased its holdings in Zscaler by 30.3% in the fourth quarter. Baader Bank Aktiengesellschaft now owns 8,400 shares of the company's stock valued at $1,515,000 after buying an additional 1,952 shares during the last quarter. Everence Capital Management Inc. purchased a new stake in Zscaler during the 4th quarter worth about $565,000. SYM FINANCIAL Corp acquired a new position in shares of Zscaler during the 4th quarter worth about $303,000. Finally, Merit Financial Group LLC purchased a new position in shares of Zscaler in the 4th quarter valued at about $787,000. 46.45% of the stock is currently owned by institutional investors and hedge funds.

Zscaler Stock Performance

Zscaler stock opened at $215.58 on Friday. Zscaler, Inc. has a one year low of $153.45 and a one year high of $217.84. The company has a market cap of $33.36 billion, a P/E ratio of -862.32 and a beta of 1.12. The business has a fifty day moving average of $199.30 and a two-hundred day moving average of $197.37.

Analyst Ratings Changes

Several research firms recently weighed in on ZS. Needham & Company LLC restated a "buy" rating and set a $240.00 target price on shares of Zscaler in a research note on Wednesday, March 5th. Sanford C. Bernstein restated an "outperform" rating and issued a $244.00 target price on shares of Zscaler in a report on Thursday, March 6th. Barclays reiterated an "overweight" rating on shares of Zscaler in a research note on Wednesday, March 5th. Jefferies Financial Group decreased their price objective on shares of Zscaler from $245.00 to $240.00 and set a "buy" rating for the company in a research note on Monday, March 31st. Finally, Roth Capital started coverage on Zscaler in a research report on Wednesday. They set a "neutral" rating and a $215.00 target price on the stock. Nine equities research 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. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $234.16.

Insider Activity at Zscaler

In related news, CEO Jagtar Singh Chaudhry sold 2,155 shares of Zscaler stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $199.15, for a total transaction of $429,168.25. Following the completion of the transaction, the chief executive officer now directly owns 356,414 shares of the company's stock, valued at approximately $70,979,848.10. The trade was a 0.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, major shareholder Ajay Mangal sold 190,480 shares of the business's stock in a transaction 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 sale, the insider now owns 2,580,210 shares in the company, valued at approximately $517,822,344.90. The trade was 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 worth $42,030,790 over the last 90 days. 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.

Want to see what other hedge funds are holding ZS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Zscaler, Inc. (NASDAQ:ZS - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.