Zscaler, Inc. (NASDAQ:ZS) Shares Sold by Two Sigma Investments LP

Two Sigma Investments LP reduced its holdings in Zscaler, Inc. (NASDAQ:ZS) by 10.9% during the 4th quarter, Holdings Channel reports. The firm owned 208,954 shares of the company’s stock after selling 25,623 shares during the quarter. Two Sigma Investments LP’s holdings in Zscaler were worth $37,697,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Tidal Investments LLC lifted its stake in Zscaler by 32.8% in the 4th quarter. Tidal Investments LLC now owns 45,275 shares of the company’s stock worth $8,168,000 after purchasing an additional 11,177 shares in the last quarter. True Wealth Design LLC increased its holdings in shares of Zscaler by 120.4% in the fourth quarter. True Wealth Design LLC now owns 410 shares of the company’s stock valued at $74,000 after purchasing an additional 224 shares during the last quarter. Siemens Fonds Invest GmbH purchased a new position in Zscaler during the fourth quarter worth approximately $2,047,000. Rafferty Asset Management LLC boosted its stake in Zscaler by 1.4% during the fourth quarter. Rafferty Asset Management LLC now owns 73,005 shares of the company’s stock worth $13,171,000 after buying an additional 991 shares during the last quarter. Finally, Raiffeisen Bank International AG purchased a new stake in Zscaler in the 4th quarter valued at $5,661,000. 46.45% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have commented on ZS shares. BTIG Research set a $252.00 target price on shares of Zscaler and gave the stock a “buy” rating in a research note on Thursday, March 6th. Royal Bank of Canada lifted their price target on shares of Zscaler from $230.00 to $250.00 and gave the company an “outperform” rating in a research report on Thursday, March 6th. BNP Paribas upgraded Zscaler from a “neutral” rating to an “outperform” rating and set a $260.00 price objective for the company in a research report on Monday, April 28th. Robert W. Baird raised their target price on Zscaler from $240.00 to $250.00 and gave the stock an “outperform” rating in a research note on Thursday, March 6th. Finally, The Goldman Sachs Group set a $207.00 price target on Zscaler and gave the company a “neutral” rating in a research note on Thursday, March 6th. Eight equities research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $238.53.

Zscaler Price Performance

Shares of NASDAQ:ZS opened at $251.95 on Wednesday. The stock has a market capitalization of $38.98 billion, a P/E ratio of -1,007.80 and a beta of 1.14. The business has a 50-day moving average of $212.51 and a two-hundred day moving average of $203.06. Zscaler, Inc. has a fifty-two week low of $153.45 and a fifty-two week high of $253.72.

Insider Activity at Zscaler

In other news, major shareholder Ajay Mangal sold 190,480 shares of the firm’s stock in a transaction dated 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 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 completion of the transaction, the chief executive officer now owns 356,414 shares in the company, valued at $70,979,848.10. The trade was a 0.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 241,771 shares of company stock valued at $50,165,040. Corporate insiders own 18.10% of the company’s stock.

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.