Triumph Capital Management Sells 1,695 Shares of Zscaler, Inc. (NASDAQ:ZS)

Triumph Capital Management lowered its holdings in Zscaler, Inc. (NASDAQ:ZS - Free Report) by 29.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,156 shares of the company's stock after selling 1,695 shares during the period. Triumph Capital Management's holdings in Zscaler were worth $750,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Geode Capital Management LLC grew its stake 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 buying an additional 32,545 shares in the last quarter. Pictet Asset Management Holding SA grew its position in shares of 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 acquiring an additional 332,307 shares during the period. AQR Capital Management LLC increased its stake in shares of Zscaler by 120.1% during the 4th quarter. AQR Capital Management LLC now owns 964,031 shares of the company's stock worth $173,921,000 after purchasing an additional 525,956 shares during the last quarter. Artisan Partners Limited Partnership increased its stake in shares of Zscaler by 30.9% during the 4th 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 last quarter. Finally, DnB Asset Management AS raised its holdings in shares of Zscaler by 66.8% in the 4th 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 during the period. 46.45% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

ZS has been the topic of several research analyst reports. Jefferies Financial Group dropped their price objective on shares of Zscaler from $245.00 to $240.00 and set a "buy" rating on the stock in a research report on Monday, March 31st. UBS Group increased their price target on shares of Zscaler from $250.00 to $260.00 and gave the company a "buy" rating in a report on Thursday, March 6th. Wedbush boosted their price objective on Zscaler from $230.00 to $240.00 and gave the stock an "outperform" rating in a report on Thursday, March 6th. Sanford C. Bernstein reiterated an "outperform" rating and set a $244.00 target price on shares of Zscaler in a research note on Thursday, March 6th. Finally, Bank of America upgraded Zscaler from a "neutral" rating to a "buy" rating and boosted their price target for the company from $215.00 to $240.00 in a research note on Friday, March 7th. Eight investment 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. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $238.53.

Insider Activity at Zscaler

In other news, insider Syam Nair sold 28,947 shares of the business'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 value of $7,236,750.00. Following the transaction, the insider now owns 110,566 shares in the company, valued at $27,641,500. The trade was a 20.75% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Robert Schlossman sold 3,590 shares of the business's stock in a transaction on Friday, May 16th. The shares were 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 approximately $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. In the last three months, insiders sold 241,771 shares of company stock valued at $50,165,040. 18.10% of the stock is owned by insiders.

Zscaler Stock Performance

Shares of Zscaler stock traded down $3.23 on Wednesday, hitting $248.72. The company had a trading volume of 2,565,143 shares, compared to its average volume of 2,049,888. The stock has a market capitalization of $38.48 billion, a price-to-earnings ratio of -994.88 and a beta of 1.14. Zscaler, Inc. has a 1 year low of $153.45 and a 1 year high of $253.84. The stock has a 50 day moving average of $212.51 and a 200-day moving average of $203.06.

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.