Tidal Investments LLC Increases Stake in Zscaler, Inc. (NASDAQ:ZS)

Tidal Investments LLC raised its stake in shares of Zscaler, Inc. (NASDAQ:ZS - Free Report) by 32.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 45,275 shares of the company's stock after buying an additional 11,177 shares during the quarter. Tidal Investments LLC's holdings in Zscaler were worth $8,168,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Geode Capital Management LLC grew its holdings in shares of Zscaler by 2.0% in 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 grew 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. AQR Capital Management LLC lifted its position in Zscaler by 120.1% in the fourth quarter. AQR Capital Management LLC now owns 964,031 shares of the company's stock worth $173,921,000 after buying an additional 525,956 shares during the last quarter. Artisan Partners Limited Partnership lifted its position in 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 buying an additional 204,996 shares during the last quarter. Finally, DnB Asset Management AS lifted its position in 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 buying an additional 267,162 shares during the last quarter. 46.45% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Zscaler

In other news, major shareholder Ajay Mangal sold 190,480 shares of the business's stock in a transaction dated 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 in the company, valued at approximately $517,822,344.90. The trade was a 6.87% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Robert Schlossman sold 3,590 shares of the business's stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $250.00, for a total value 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 position. 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 quarter. Insiders own 18.10% of the company's stock.

Analysts Set New Price Targets

ZS has been the subject of a number of analyst reports. Royal Bank of Canada raised their price target on Zscaler from $230.00 to $250.00 and gave the stock an "outperform" rating in a research report on Thursday, March 6th. UBS Group raised their price target on Zscaler from $250.00 to $260.00 and gave the stock a "buy" rating in a research report on Thursday, March 6th. BNP Paribas upgraded Zscaler from a "neutral" rating to an "outperform" rating and set a $260.00 price target for the company in a research report on Monday, April 28th. Barclays restated an "overweight" rating on shares of Zscaler in a research report on Wednesday, March 5th. Finally, Wells Fargo & Company raised their price target on Zscaler from $190.00 to $210.00 and gave the stock an "equal weight" rating in a research report on Thursday, March 6th. Eight equities research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $238.53.

Zscaler Price Performance

ZS opened at $252.57 on Tuesday. The business'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. The firm has a market capitalization of $39.08 billion, a PE ratio of -1,010.28 and a beta of 1.14.

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.

Want to see what other hedge funds are holding ZS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Zscaler, Inc. (NASDAQ:ZS - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.