Rockefeller Capital Management L.P. Acquires New Stake in Zscaler, Inc. (NASDAQ:ZS)

Rockefeller Capital Management L.P. purchased a new stake in Zscaler, Inc. (NASDAQ:ZS - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The firm purchased 18,446 shares of the company's stock, valued at approximately $3,346,000.

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

Analyst Ratings Changes

Several brokerages recently commented on ZS. JPMorgan Chase & Co. increased their target price on shares of Zscaler from $240.00 to $250.00 and gave the stock an "overweight" rating in a report on Thursday, March 6th. Jefferies Financial Group dropped their price objective on Zscaler from $245.00 to $240.00 and set a "buy" rating on the stock in a research note on Monday, March 31st. Cantor Fitzgerald raised shares of Zscaler from a "neutral" rating to an "overweight" rating and lifted their price objective for the stock from $220.00 to $250.00 in a research report on Thursday, April 3rd. Mizuho upped their target price on Zscaler from $210.00 to $225.00 and gave the company a "neutral" rating in a research report on Wednesday, February 12th. Finally, Roth Capital assumed coverage on Zscaler in a research report on Wednesday. They set a "neutral" rating and a $215.00 price objective on the stock. Nine research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $234.16.

Zscaler Price Performance

Shares of NASDAQ ZS traded up $9.55 during mid-day trading on Thursday, reaching $210.14. 873,777 shares of the company's stock traded hands, compared to its average volume of 1,973,853. Zscaler, Inc. has a 1-year low of $153.45 and a 1-year high of $217.84. The stock has a market cap of $32.51 billion, a P/E ratio of -839.66 and a beta of 1.12. The business has a 50-day simple moving average of $199.38 and a 200 day simple moving average of $196.76.

Insider Transactions at Zscaler

In related news, major shareholder Ajay Mangal sold 190,480 shares of Zscaler 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 sale, 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Jagtar Singh Chaudhry sold 2,155 shares of the company's stock in a transaction on Tuesday, March 18th. The shares were 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 owns 356,414 shares of the company's stock, valued at $70,979,848.10. This trade represents a 0.60 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 209,234 shares of company stock valued at $42,030,790 over the last ninety days. 18.10% of the stock is currently owned by insiders.

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.