Zscaler, Inc. (NASDAQ:ZS) Shares Sold by Two Sigma Advisers LP

Two Sigma Advisers LP decreased its position in Zscaler, Inc. (NASDAQ:ZS - Free Report) by 13.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 633,500 shares of the company's stock after selling 99,400 shares during the quarter. Two Sigma Advisers LP owned 0.41% of Zscaler worth $114,290,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the company. Corebridge Financial Inc. grew its position in Zscaler by 0.5% in the 4th 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 boosted its position in Zscaler by 0.6% during the fourth quarter. Erste Asset Management GmbH now owns 9,780 shares of the company's stock valued at $1,805,000 after purchasing an additional 56 shares in the last quarter. Ironwood Investment Management LLC boosted its position in Zscaler by 1.0% during the fourth quarter. Ironwood Investment Management LLC now owns 6,249 shares of the company's stock valued at $1,127,000 after purchasing an additional 64 shares in the last quarter. Smartleaf Asset Management LLC boosted its position in Zscaler by 16.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 482 shares of the company's stock valued at $88,000 after purchasing an additional 69 shares in the last quarter. Finally, Avior Wealth Management LLC raised its stake in Zscaler by 50.7% in 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. Institutional investors own 46.45% of the company's stock.

Insider Activity at Zscaler

In other news, CEO Jagtar Singh Chaudhry sold 2,155 shares of Zscaler 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 completion of the sale, the chief executive officer now owns 356,414 shares of the company's stock, valued at $70,979,848.10. The trade was a 0.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Ajay Mangal sold 190,480 shares of Zscaler stock in a transaction on Monday, March 17th. The shares were 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 of the company's stock, valued at approximately $517,822,344.90. This represents a 6.87% decrease in their position. The disclosure for this sale can be found here. Insiders sold 241,771 shares of company stock valued at $50,165,040 in the last ninety days. Corporate insiders own 18.10% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on ZS shares. The Goldman Sachs Group set a $207.00 price target on Zscaler and gave the company a "neutral" rating in a research note on Thursday, March 6th. Wedbush increased their price target on Zscaler from $230.00 to $240.00 and gave the company an "outperform" rating in a research note on Thursday, March 6th. Rosenblatt Securities reiterated a "buy" rating and issued a $235.00 price target on shares of Zscaler in a research note on Tuesday, April 15th. Stephens began coverage on Zscaler in a research note on Tuesday, April 1st. They issued an "overweight" rating and a $255.00 price objective for the company. Finally, Bank of America upgraded Zscaler from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $215.00 to $240.00 in a research note on Friday, March 7th. Eight research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $238.53.

Zscaler Stock Down 1.3%

NASDAQ ZS traded down $3.23 during mid-day trading on Wednesday, hitting $248.72. The stock had a trading volume of 2,565,143 shares, compared to its average volume of 2,050,937. Zscaler, Inc. has a 52-week low of $153.45 and a 52-week high of $253.84. The company has a market cap of $38.48 billion, a price-to-earnings ratio of -994.88 and a beta of 1.14. The company has a 50 day simple moving average of $213.53 and a 200 day simple moving average of $203.38.

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.