Sciencast Management LP Increases Stock Position in Zscaler, Inc. (NASDAQ:ZS)

Sciencast Management LP raised its position in Zscaler, Inc. (NASDAQ:ZS - Free Report) by 61.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,555 shares of the company's stock after acquiring an additional 2,120 shares during the quarter. Sciencast Management LP's holdings in Zscaler were worth $1,002,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of ZS. Global X Japan Co. Ltd. raised its stake 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 acquiring an additional 79 shares during the period. Stonebridge Financial Group LLC acquired a new position in shares of Zscaler in the fourth quarter valued at $29,000. Prestige Wealth Management Group LLC bought a new position in shares of Zscaler in the third quarter valued at about $31,000. True Wealth Design LLC lifted its stake in shares of Zscaler by 18,500.0% during the 3rd quarter. True Wealth Design LLC now owns 186 shares of the company's stock worth $32,000 after buying an additional 185 shares during the last quarter. Finally, Versant Capital Management Inc boosted its holdings in shares of Zscaler by 136.8% during the 4th quarter. Versant Capital Management Inc now owns 180 shares of the company's stock worth $32,000 after buying an additional 104 shares during the period. 46.45% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

ZS has been the subject of a number of research analyst reports. Susquehanna boosted their price objective on Zscaler from $210.00 to $225.00 and gave the stock a "positive" rating in a report on Tuesday, December 3rd. Morgan Stanley initiated coverage on Zscaler in a report on Tuesday, March 18th. They set an "equal weight" rating for the company. Wedbush upped their price objective on Zscaler from $230.00 to $240.00 and gave the company an "outperform" rating in a report on Thursday, March 6th. Bank of America raised Zscaler from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $215.00 to $240.00 in a report on Friday, March 7th. Finally, Barclays restated an "overweight" rating on shares of Zscaler in a research note on Wednesday, March 5th. Nine equities research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company's stock. Based on data from MarketBeat, Zscaler presently has a consensus rating of "Moderate Buy" and a consensus target price of $232.68.

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Zscaler Stock Performance

Shares of ZS stock traded down $2.10 on Thursday, hitting $209.45. The company had a trading volume of 1,624,746 shares, compared to its average volume of 1,865,838. Zscaler, Inc. has a twelve month low of $153.45 and a twelve month high of $217.84. The firm has a market cap of $32.41 billion, a P/E ratio of -837.80 and a beta of 0.88. The stock's 50-day moving average is $201.26 and its two-hundred day moving average is $192.96.

Insider Transactions at Zscaler

In other news, insider Robert Schlossman sold 2,878 shares of the company'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 transaction, the insider now directly owns 107,587 shares of the company's stock, valued at $21,425,951.05. This represents a 2.61 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available 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 shares were sold at an average price of $200.69, for a total transaction of $38,227,431.20. Following the sale, the insider now owns 2,580,210 shares of the company's stock, valued at $517,822,344.90. This trade represents a 6.87 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 199,234 shares of company stock worth $39,970,790. Company insiders own 18.10% of the company's stock.

Zscaler Company 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.