Zscaler, Inc. (NASDAQ:ZS) Shares Sold by Pitcairn Co.

Pitcairn Co. lowered its stake in shares of Zscaler, Inc. (NASDAQ:ZS) by 6.4% in the fourth quarter, HoldingsChannel reports. The fund owned 1,115 shares of the company’s stock after selling 76 shares during the quarter. Pitcairn Co.’s holdings in Zscaler were worth $201,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. ExodusPoint Capital Management LP boosted its holdings in Zscaler by 33.8% in the fourth quarter. ExodusPoint Capital Management LP now owns 32,551 shares of the company’s stock valued at $5,873,000 after acquiring an additional 8,228 shares during the last quarter. Motley Fool Asset Management LLC lifted its stake in shares of Zscaler by 12.6% in the 4th quarter. Motley Fool Asset Management LLC now owns 6,911 shares of the company’s stock valued at $1,247,000 after purchasing an additional 776 shares in the last quarter. Westpac Banking Corp grew its holdings in shares of Zscaler by 763.5% during the 4th quarter. Westpac Banking Corp now owns 4,784 shares of the company’s stock worth $863,000 after purchasing an additional 4,230 shares during the period. Trexquant Investment LP increased its position in Zscaler by 12.1% during the 4th quarter. Trexquant Investment LP now owns 86,158 shares of the company’s stock worth $15,544,000 after purchasing an additional 9,329 shares in the last quarter. Finally, Headlands Technologies LLC purchased a new position in Zscaler in the fourth quarter valued at approximately $2,422,000. 46.45% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Zscaler

In other Zscaler news, Director Andrew William Fraser Brown sold 10,000 shares of the company’s stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $206.00, for a total value of $2,060,000.00. Following the completion of the transaction, the director now owns 27,216 shares in the company, valued at approximately $5,606,496. This represents a 26.87 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Robert Schlossman sold 2,878 shares of the firm’s stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $199.15, for a total transaction of $573,153.70. Following the completion of the sale, the insider now owns 107,587 shares in the company, valued at $21,425,951.05. The trade was a 2.61 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 209,234 shares of company stock worth $42,030,790 over the last ninety days. Company insiders own 18.10% of the company’s stock.

Zscaler Stock Performance

NASDAQ ZS opened at $174.67 on Monday. The firm has a market capitalization of $27.03 billion, a PE ratio of -698.68 and a beta of 1.12. Zscaler, Inc. has a one year low of $153.45 and a one year high of $217.84. The company has a 50-day simple moving average of $202.38 and a 200-day simple moving average of $194.78.

Analyst Upgrades and Downgrades

Several research firms have issued reports on ZS. Wells Fargo & Company boosted their price objective on shares of Zscaler from $190.00 to $210.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 6th. JPMorgan Chase & Co. increased their price target on Zscaler from $240.00 to $250.00 and gave the company an “overweight” rating in a report on Thursday, March 6th. UBS Group boosted their price objective on Zscaler from $250.00 to $260.00 and gave the stock a “buy” rating in a research note on Thursday, March 6th. Jefferies Financial Group dropped their target price on Zscaler from $245.00 to $240.00 and set a “buy” rating on the stock in a report on Monday, March 31st. Finally, Royal Bank of Canada upped their price target on Zscaler from $230.00 to $250.00 and gave the stock an “outperform” rating in a report on Thursday, March 6th. Eight investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Zscaler has an average rating of “Moderate Buy” and an average price target of $234.94.

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.