Renaissance Technologies LLC lowered its stake in Zscaler, Inc. (NASDAQ:ZS - Free Report) by 30.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 236,782 shares of the company's stock after selling 104,000 shares during the period. Renaissance Technologies LLC owned approximately 0.15% of Zscaler worth $42,718,000 at the end of the most recent reporting period.
Several other large investors have also modified their holdings of ZS. Global X Japan Co. Ltd. boosted its holdings in Zscaler by 127.4% in the 4th quarter. Global X Japan Co. Ltd. now owns 141 shares of the company's stock valued at $25,000 after purchasing an additional 79 shares in the last quarter. Summit Securities Group LLC acquired a new stake in shares of Zscaler in the 4th quarter valued at approximately $27,000. Stonebridge Financial Group LLC purchased a new stake in shares of Zscaler in the fourth quarter valued at approximately $29,000. Versant Capital Management Inc grew its holdings in Zscaler by 136.8% during the fourth quarter. Versant Capital Management Inc now owns 180 shares of the company's stock worth $32,000 after acquiring an additional 104 shares during the period. Finally, Modus Advisors LLC purchased a new position in Zscaler in the fourth quarter worth $36,000. Hedge funds and other institutional investors own 46.45% of the company's stock.
Zscaler Price Performance
ZS stock traded up $5.17 on Tuesday, hitting $204.61. 1,240,081 shares of the company were exchanged, compared to its average volume of 1,977,152. The stock has a market capitalization of $31.66 billion, a price-to-earnings ratio of -818.45 and a beta of 1.12. Zscaler, Inc. has a twelve month low of $153.45 and a twelve month high of $217.84. The business's fifty day moving average is $200.77 and its two-hundred day moving average is $195.68.
Insider Activity
In other news, 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 transaction, the chief executive officer now directly owns 356,414 shares of the company's stock, valued at $70,979,848.10. The trade was a 0.60 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, major shareholder Ajay Mangal sold 190,480 shares of the stock in a transaction that occurred 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 sale, the insider now directly owns 2,580,210 shares of the company's stock, valued at approximately $517,822,344.90. This trade represents a 6.87 % decrease in their position. 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. Company insiders own 18.10% of the company's stock.
Wall Street Analyst Weigh In
A number of equities analysts have recently weighed in on the stock. BTIG Research set a $252.00 price target on shares of Zscaler and gave the stock a "buy" rating in a research note on Thursday, March 6th. Wells Fargo & Company increased their target price on shares of Zscaler from $190.00 to $210.00 and gave the company an "equal weight" rating in a report on Thursday, March 6th. Needham & Company LLC reissued a "buy" rating and set a $240.00 price target on shares of Zscaler in a research note on Wednesday, March 5th. Rosenblatt Securities reaffirmed a "buy" rating and issued a $235.00 price objective on shares of Zscaler in a research note on Tuesday. Finally, Scotiabank reiterated a "sector outperform" rating and set a $242.00 target price (up from $225.00) on shares of Zscaler in a research report on Wednesday, March 5th. Eight equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $234.94.
Check Out Our Latest Report on Zscaler
Zscaler 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.
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