AQR Capital Management LLC Buys 525,956 Shares of Zscaler, Inc. (NASDAQ:ZS)

AQR Capital Management LLC lifted its stake in Zscaler, Inc. (NASDAQ:ZS - Free Report) by 120.1% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 964,031 shares of the company's stock after purchasing an additional 525,956 shares during the period. AQR Capital Management LLC owned 0.63% of Zscaler worth $173,921,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Natixis bought a new position in Zscaler during the fourth quarter worth about $87,775,000. Pictet Asset Management Holding SA lifted its holdings in shares of Zscaler by 25.8% in the fourth quarter. Pictet Asset Management Holding SA now owns 1,618,176 shares of the company's stock valued at $291,935,000 after purchasing an additional 332,307 shares in the last quarter. DnB Asset Management AS lifted its holdings in shares of Zscaler by 66.8% in the fourth 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 in the last quarter. Artisan Partners Limited Partnership lifted its holdings in shares of 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 purchasing an additional 204,996 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of Zscaler in the fourth quarter valued at about $32,158,000. 46.45% of the stock is currently owned by institutional investors.

Zscaler Price Performance

NASDAQ ZS opened at $219.86 on Tuesday. The stock has a market capitalization of $34.02 billion, a PE ratio of -879.44 and a beta of 1.12. The business's 50-day moving average is $199.41 and its 200 day moving average is $197.54. Zscaler, Inc. has a 1 year low of $153.45 and a 1 year high of $221.50.

Insider Buying and Selling at Zscaler

In other news, major shareholder Ajay Mangal sold 190,480 shares of the company's stock in a transaction 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 sale, the insider now directly owns 2,580,210 shares in the company, valued at $517,822,344.90. This represents a 6.87 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Robert Schlossman sold 2,878 shares of the company's stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $199.15, for a total value of $573,153.70. Following the completion of the sale, the insider now owns 107,587 shares of the company's stock, valued at $21,425,951.05. This trade represents a 2.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 209,234 shares of company stock worth $42,030,790. Insiders own 18.10% of the company's stock.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Stephens assumed coverage on Zscaler in a research report on Tuesday, April 1st. They issued an "overweight" rating and a $255.00 target price on the stock. Wells Fargo & Company lifted their target price on Zscaler from $190.00 to $210.00 and gave the company an "equal weight" rating in a research report on Thursday, March 6th. Roth Capital assumed coverage on Zscaler in a research report on Wednesday, April 23rd. They set a "neutral" rating and a $215.00 price target on the stock. Robert W. Baird boosted their price objective on Zscaler from $240.00 to $250.00 and gave the stock an "outperform" rating in a report on Thursday, March 6th. Finally, BMO Capital Markets boosted their price objective on Zscaler from $222.00 to $233.00 and gave the stock an "outperform" rating in a report on Thursday, March 6th. Eight analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Zscaler currently has an average rating of "Moderate Buy" and a consensus target price of $236.66.

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.

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