Zscaler, Inc. (NASDAQ:ZS) Shares Bought by Alliancebernstein L.P.

Alliancebernstein L.P. boosted its holdings in shares of Zscaler, Inc. (NASDAQ:ZS - Free Report) by 23.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 71,735 shares of the company's stock after buying an additional 13,597 shares during the period. Alliancebernstein L.P.'s holdings in Zscaler were worth $12,942,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the business. Pictet Asset Management Holding SA increased its stake in Zscaler by 25.8% in the 4th quarter. Pictet Asset Management Holding SA now owns 1,618,176 shares of the company's stock valued at $291,935,000 after buying an additional 332,307 shares during the last quarter. DnB Asset Management AS grew its position in Zscaler by 66.8% during the fourth quarter. DnB Asset Management AS now owns 667,383 shares of the company's stock valued at $120,403,000 after buying an additional 267,162 shares during the period. Artisan Partners Limited Partnership boosted its stake in Zscaler by 30.9% in the fourth quarter. Artisan Partners Limited Partnership now owns 868,795 shares of the company's stock valued at $156,739,000 after acquiring an additional 204,996 shares during the last quarter. Norges Bank purchased a new stake in shares of Zscaler during the 4th quarter worth approximately $32,158,000. Finally, Raymond James Financial Inc. purchased a new position in shares of Zscaler during the 4th quarter valued at $28,072,000. 46.45% of the stock is currently owned by institutional investors and hedge funds.

Zscaler Stock Performance

Shares of ZS traded up $4.28 during midday trading on Tuesday, hitting $203.72. The company had a trading volume of 312,989 shares, compared to its average volume of 1,971,807. The company's 50-day simple moving average is $200.77 and its 200-day simple moving average is $195.68. The firm has a market capitalization of $31.52 billion, a P/E ratio of -814.58 and a beta of 1.12. Zscaler, Inc. has a 1 year low of $153.45 and a 1 year high of $217.84.

Wall Street Analyst Weigh In

ZS has been the topic of a number of recent research reports. Morgan Stanley initiated coverage on shares of Zscaler in a research note on Tuesday, March 18th. They set an "equal weight" rating on the stock. Bank of America upgraded Zscaler from a "neutral" rating to a "buy" rating and upped their price target for the company from $215.00 to $240.00 in a research report on Friday, March 7th. BMO Capital Markets increased their price objective on Zscaler from $222.00 to $233.00 and gave the stock an "outperform" rating in a research report on Thursday, March 6th. UBS Group raised their target price on shares of Zscaler from $250.00 to $260.00 and gave the company a "buy" rating in a research note on Thursday, March 6th. Finally, Sanford C. Bernstein restated an "outperform" rating and set a $244.00 price objective on shares of Zscaler in a research report on Thursday, March 6th. Eight analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $234.94.

Insider Activity at Zscaler

In other news, Director Andrew William Fraser Brown sold 10,000 shares of the firm's stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $206.00, for a total transaction of $2,060,000.00. Following the transaction, the director now directly owns 27,216 shares in the company, valued at approximately $5,606,496. This trade represents a 26.87 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, 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 of the company's stock, valued at approximately $517,822,344.90. This represents a 6.87 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 209,234 shares of company stock valued at $42,030,790 over the last three months. 18.10% of the stock is owned by corporate insiders.

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.