Quantinno Capital Management LP Grows Position in Zscaler, Inc. (NASDAQ:ZS)

Quantinno Capital Management LP lifted its stake in Zscaler, Inc. (NASDAQ:ZS - Free Report) by 26.8% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 16,672 shares of the company's stock after buying an additional 3,528 shares during the quarter. Quantinno Capital Management LP's holdings in Zscaler were worth $3,008,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Corebridge Financial Inc. increased its position in Zscaler by 0.5% during the fourth quarter. Corebridge Financial Inc. now owns 11,695 shares of the company's stock valued at $2,110,000 after acquiring an additional 54 shares during the last quarter. Erste Asset Management GmbH lifted its stake in Zscaler by 0.6% in the fourth quarter. Erste Asset Management GmbH now owns 9,780 shares of the company's stock worth $1,805,000 after acquiring an additional 56 shares during the period. Ironwood Investment Management LLC lifted its stake in Zscaler by 1.0% in the fourth quarter. Ironwood Investment Management LLC now owns 6,249 shares of the company's stock worth $1,127,000 after acquiring an additional 64 shares during the period. Smartleaf Asset Management LLC lifted its stake in Zscaler by 16.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 482 shares of the company's stock worth $88,000 after acquiring an additional 69 shares during the period. Finally, Avior Wealth Management LLC lifted its position in shares of Zscaler by 50.7% during the fourth quarter. Avior Wealth Management LLC now owns 214 shares of the company's stock valued at $39,000 after buying an additional 72 shares during the last quarter. Hedge funds and other institutional investors own 46.45% of the company's stock.

Zscaler Price Performance

Shares of NASDAQ:ZS opened at $252.57 on Tuesday. The firm has a market capitalization of $39.08 billion, a PE ratio of -1,010.28 and a beta of 1.14. The firm's 50-day moving average is $211.27 and its two-hundred day moving average is $202.72. Zscaler, Inc. has a 1 year low of $153.45 and a 1 year high of $253.72.

Insiders Place Their Bets

In related news, major shareholder Ajay Mangal sold 190,480 shares of the company's stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $200.69, for a total transaction of $38,227,431.20. Following the sale, the insider now directly owns 2,580,210 shares in the company, valued at approximately $517,822,344.90. This represents a 6.87% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Robert Schlossman sold 3,590 shares of the company's stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $250.00, for a total transaction of $897,500.00. Following the sale, the insider now owns 100,230 shares in the company, valued at $25,057,500. The trade was a 3.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 241,771 shares of company stock worth $50,165,040 over the last three months. Company insiders own 18.10% of the company's stock.

Analysts Set New Price Targets

Several analysts have commented on ZS shares. The Goldman Sachs Group set a $207.00 price target on shares of Zscaler and gave the company a "neutral" rating in a research report on Thursday, March 6th. BTIG Research set a $252.00 price target on shares of Zscaler and gave the stock a "buy" rating in a research report on Thursday, March 6th. Royal Bank of Canada lifted their target price on shares of Zscaler from $230.00 to $250.00 and gave the company an "outperform" rating in a report on Thursday, March 6th. Scotiabank reaffirmed a "sector outperform" rating and set a $242.00 target price (up from $225.00) on shares of Zscaler in a report on Wednesday, March 5th. Finally, Sanford C. Bernstein reissued an "outperform" rating and issued a $244.00 price target on shares of Zscaler in a report on Thursday, March 6th. Eight research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $238.53.

Zscaler 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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