Cerity Partners LLC Has $4.12 Million Stock Position in Zscaler, Inc. (NASDAQ:ZS)

Cerity Partners LLC lifted its position in shares of Zscaler, Inc. (NASDAQ:ZS - Free Report) by 116.4% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 22,860 shares of the company's stock after acquiring an additional 12,298 shares during the period. Cerity Partners LLC's holdings in Zscaler were worth $4,117,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the company. Aster Capital Management DIFC Ltd acquired a new position in Zscaler during the 4th quarter worth $94,000. Sepio Capital LP grew its position in Zscaler by 5.7% in the 4th quarter. Sepio Capital LP now owns 8,764 shares of the company's stock valued at $1,581,000 after buying an additional 475 shares in the last quarter. MIG Capital LLC bought a new stake in shares of Zscaler during the 4th quarter worth about $329,000. Ilmarinen Mutual Pension Insurance Co boosted its stake in Zscaler by 71.4% during the fourth quarter. Ilmarinen Mutual Pension Insurance Co now owns 60,000 shares of the company's stock valued at $10,825,000 after buying an additional 25,000 shares in the last quarter. Finally, Envestnet Asset Management Inc. raised its position in Zscaler by 96.0% in the fourth quarter. Envestnet Asset Management Inc. now owns 25,579 shares of the company's stock worth $4,615,000 after acquiring an additional 12,531 shares in the last quarter. Institutional investors own 46.45% of the company's stock.

Analyst Upgrades and Downgrades

ZS has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. boosted their target price on Zscaler from $240.00 to $250.00 and gave the stock an "overweight" rating in a research report on Thursday, March 6th. Sanford C. Bernstein reissued an "outperform" rating and issued a $244.00 target price on shares of Zscaler in a research report on Thursday, March 6th. The Goldman Sachs Group set a $207.00 price objective on shares of Zscaler and gave the stock a "neutral" rating in a report on Thursday, March 6th. Needham & Company LLC reiterated a "buy" rating and set a $240.00 price target on shares of Zscaler in a research note on Wednesday, March 5th. Finally, Wedbush upped their target price on Zscaler from $230.00 to $240.00 and gave the stock an "outperform" rating in a research report on Thursday, March 6th. Eight equities research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $234.77.

Insider Buying and Selling at Zscaler

In other news, major shareholder Ajay Mangal sold 190,480 shares of the 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 owns 2,580,210 shares in the company, valued at approximately $517,822,344.90. This represents a 6.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Robert Schlossman sold 2,878 shares of Zscaler stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $199.15, for a total value of $573,153.70. Following the completion of 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 disclosure for this sale can be found here. Insiders have sold 209,234 shares of company stock worth $42,030,790 over the last three months. Company insiders own 18.10% of the company's stock.

Zscaler Price Performance

Shares of ZS traded down $1.95 during mid-day trading on Thursday, reaching $200.92. The company had a trading volume of 1,416,198 shares, compared to its average volume of 1,976,147. The company has a market capitalization of $31.09 billion, a P/E ratio of -803.67 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 company's 50-day moving average is $200.73 and its 200-day moving average is $195.79.

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.