Quantbot Technologies LP Purchases Shares of 1,863 Zscaler, Inc. (NASDAQ:ZS)

Quantbot Technologies LP bought a new stake in Zscaler, Inc. (NASDAQ:ZS - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 1,863 shares of the company's stock, valued at approximately $336,000.

Other institutional investors also recently added to or reduced their stakes in the company. Raymond James Financial Inc. bought a new position in Zscaler during the 4th quarter valued at about $28,072,000. Trivest Advisors Ltd boosted its holdings in shares of Zscaler by 95.3% in the 4th quarter. Trivest Advisors Ltd now owns 250,000 shares of the company's stock worth $45,102,000 after acquiring an additional 122,000 shares in the last quarter. 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 worth $34,421,000 after acquiring an additional 71,297 shares during the last quarter. Geode Capital Management LLC raised its position in Zscaler by 3.9% in the 3rd quarter. Geode Capital Management LLC now owns 1,625,861 shares of the company's stock valued at $277,327,000 after purchasing an additional 60,414 shares during the last quarter. Finally, Tredje AP fonden boosted its stake in Zscaler by 379.2% in the fourth quarter. Tredje AP fonden now owns 69,670 shares of the company's stock worth $12,569,000 after purchasing an additional 55,130 shares in the last quarter. 46.45% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. The Goldman Sachs Group set a $207.00 price target on Zscaler and gave the company a "neutral" rating in a report on Thursday, March 6th. Barclays reaffirmed an "overweight" rating on shares of Zscaler in a research note on Wednesday, March 5th. Stephens initiated coverage on Zscaler in a research report on Tuesday. They issued an "overweight" rating and a $255.00 price objective for the company. Oppenheimer boosted their price objective on Zscaler from $230.00 to $250.00 and gave the stock an "outperform" rating in a report on Tuesday, December 3rd. Finally, Canaccord Genuity Group raised their target price on shares of Zscaler from $220.00 to $230.00 and gave the company a "buy" rating in a research note on Tuesday, December 3rd. Nine research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $233.22.

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Insider Transactions at Zscaler

In related news, major shareholder Ajay Mangal sold 190,480 shares of the business's stock in a transaction on Monday, March 17th. The shares were sold at an average price of $200.69, for a total value of $38,227,431.20. Following the transaction, the insider now owns 2,580,210 shares in the company, valued at $517,822,344.90. The trade was a 6.87 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jagtar Singh Chaudhry sold 2,155 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 $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. This trade represents a 0.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 199,234 shares of company stock worth $39,970,790. Corporate insiders own 18.10% of the company's stock.

Zscaler Stock Performance

Shares of Zscaler stock traded down $0.17 during midday trading on Tuesday, hitting $198.25. 882,503 shares of the company traded hands, compared to its average volume of 1,839,736. The stock has a market cap of $30.67 billion, a price-to-earnings ratio of -793.01 and a beta of 0.88. The firm's fifty day moving average price is $202.30 and its 200-day moving average price is $194.12. Zscaler, Inc. has a 12 month low of $153.45 and a 12 month high of $217.84.

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.