Everest Management Corp. Invests $268,000 in Zscaler, Inc. (NASDAQ:ZS)

Everest Management Corp. purchased a new stake in shares of Zscaler, Inc. (NASDAQ:ZS - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 1,486 shares of the company's stock, valued at approximately $268,000.

Other large investors have also recently made changes to their positions in the company. Geode Capital Management LLC lifted its position in Zscaler by 2.0% during the fourth quarter. Geode Capital Management LLC now owns 1,658,406 shares of the company's stock valued at $298,710,000 after purchasing an additional 32,545 shares in the last quarter. Pictet Asset Management Holding SA raised its stake in Zscaler by 25.8% during the 4th quarter. Pictet Asset Management Holding SA now owns 1,618,176 shares of the company's stock worth $291,935,000 after acquiring an additional 332,307 shares during the period. Artisan Partners Limited Partnership boosted its position 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 worth $156,739,000 after purchasing an additional 204,996 shares during the period. DnB Asset Management AS increased its stake 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 worth $120,403,000 after purchasing an additional 267,162 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in shares of Zscaler by 3.2% during the 4th quarter. Bank of New York Mellon Corp now owns 539,113 shares of the company's stock valued at $97,261,000 after buying an additional 16,742 shares in the last quarter. 46.45% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Zscaler

In related news, insider Robert Schlossman sold 2,878 shares of the business's 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 sale, the insider now directly owns 107,587 shares in the company, valued at approximately $21,425,951.05. The trade was a 2.61 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jagtar Singh Chaudhry sold 2,155 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 $429,168.25. Following the transaction, the chief executive officer now owns 356,414 shares in the company, valued at $70,979,848.10. This trade represents a 0.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 209,234 shares of company stock valued at $42,030,790. Company insiders own 18.10% of the company's stock.

Wall Street Analyst Weigh In

ZS has been the topic of a number of research analyst reports. Mizuho boosted their target price on Zscaler from $210.00 to $225.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 12th. Wells Fargo & Company upped their price target on shares of Zscaler from $190.00 to $210.00 and gave the company an "equal weight" rating in a research note on Thursday, March 6th. Robert W. Baird increased their price target on shares of Zscaler from $240.00 to $250.00 and gave the company an "outperform" rating in a report on Thursday, March 6th. 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. Finally, Morgan Stanley cut their target price on Zscaler from $205.00 to $200.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 16th. Eight investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $234.77.

Zscaler Stock Down 2.9 %

Shares of ZS stock traded down $5.80 during mid-day trading on Monday, hitting $195.29. 542,499 shares of the stock were exchanged, compared to its average volume of 1,973,324. Zscaler, Inc. has a 52-week low of $153.45 and a 52-week high of $217.84. The firm has a fifty day moving average of $200.34 and a 200 day moving average of $196.60. The company has a market cap of $30.22 billion, a PE ratio of -781.16 and a beta of 1.12.

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.