Tower Research Capital LLC TRC Purchases 3,264 Shares of Zscaler, Inc. (NASDAQ:ZS)

Tower Research Capital LLC TRC increased its stake in Zscaler, Inc. (NASDAQ:ZS - Free Report) by 107.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,304 shares of the company's stock after buying an additional 3,264 shares during the quarter. Tower Research Capital LLC TRC's holdings in Zscaler were worth $1,137,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Natixis bought a new stake in shares of Zscaler during the 4th quarter worth about $87,775,000. Pictet Asset Management Holding SA lifted its holdings in Zscaler by 25.8% during the 4th quarter. Pictet Asset Management Holding SA now owns 1,618,176 shares of the company's stock worth $291,935,000 after purchasing an additional 332,307 shares during the last quarter. DnB Asset Management AS boosted its stake in Zscaler by 66.8% in the 4th quarter. DnB Asset Management AS now owns 667,383 shares of the company's stock valued at $120,403,000 after purchasing an additional 267,162 shares during the period. Artisan Partners Limited Partnership grew its holdings in Zscaler by 30.9% in the 4th quarter. Artisan Partners Limited Partnership now owns 868,795 shares of the company's stock valued at $156,739,000 after buying an additional 204,996 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of Zscaler during the fourth quarter worth $32,158,000. 46.45% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Zscaler

In other news, major shareholder Ajay Mangal sold 190,480 shares of the company's stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 2,580,210 shares of the company's stock, valued at $517,822,344.90. This represents a 6.87 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, 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 value of $429,168.25. Following the sale, the chief executive officer now owns 356,414 shares in the company, valued at $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. 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 Price Performance

Shares of NASDAQ:ZS traded up $4.28 during midday trading on Monday, hitting $219.86. 2,908,820 shares of the company's stock were exchanged, compared to its average volume of 1,996,467. Zscaler, Inc. has a 12 month low of $153.45 and a 12 month high of $221.32. The company has a market cap of $34.02 billion, a PE ratio of -879.44 and a beta of 1.12. The stock has a 50 day moving average price of $199.30 and a 200-day moving average price of $197.39.

Analysts Set New Price Targets

Several brokerages recently issued reports on ZS. Needham & Company LLC reiterated a "buy" rating and issued a $240.00 price target on shares of Zscaler in a research note on Wednesday, March 5th. BNP Paribas upgraded Zscaler from a "neutral" rating to an "outperform" rating and set a $260.00 price target on the stock in a research report on Monday. Robert W. Baird raised their target price on shares of Zscaler from $240.00 to $250.00 and gave the company an "outperform" rating in a report on Thursday, March 6th. BMO Capital Markets upped their price target on shares of Zscaler from $222.00 to $233.00 and gave the stock an "outperform" rating in a report on Thursday, March 6th. Finally, Barclays reiterated an "overweight" rating on shares of Zscaler in a research report on Wednesday, March 5th. Eight analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Zscaler has an average rating of "Moderate Buy" and a consensus target price of $236.66.

About Zscaler

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.