Two Sigma Investments LP Trims Holdings in Zscaler, Inc. (NASDAQ:ZS)

Two Sigma Investments LP cut its stake in shares of Zscaler, Inc. (NASDAQ:ZS - Free Report) by 10.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 208,954 shares of the company's stock after selling 25,623 shares during the quarter. Two Sigma Investments LP owned approximately 0.14% of Zscaler worth $37,697,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in ZS. Geode Capital Management LLC raised its stake in Zscaler by 2.0% during the fourth quarter. Geode Capital Management LLC now owns 1,658,406 shares of the company's stock worth $298,710,000 after buying an additional 32,545 shares during the last quarter. Pictet Asset Management Holding SA raised 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 worth $291,935,000 after acquiring an additional 332,307 shares in the last quarter. AQR Capital Management LLC lifted its stake in shares of Zscaler by 120.1% in the 4th quarter. AQR Capital Management LLC now owns 964,031 shares of the company's stock valued at $173,921,000 after purchasing an additional 525,956 shares during the period. Artisan Partners Limited Partnership boosted its position 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 valued at $156,739,000 after purchasing an additional 204,996 shares in the last quarter. Finally, DnB Asset Management AS grew its stake in Zscaler by 66.8% during 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 during the period. Institutional investors own 46.45% of the company's stock.

Wall Street Analysts Forecast Growth

ZS has been the topic of a number of research analyst reports. Barclays restated an "overweight" rating on shares of Zscaler in a report on Wednesday, March 5th. Citigroup reissued a "buy" rating and set a $240.00 target price (up from $235.00) on shares of Zscaler in a research note on Wednesday, March 5th. Stifel Nicolaus lifted their price target on shares of Zscaler from $235.00 to $270.00 and gave the company a "buy" rating in a research note on Friday, May 16th. The Goldman Sachs Group set a $207.00 price objective on shares of Zscaler and gave the company a "neutral" rating in a report on Thursday, March 6th. Finally, Bank of America upgraded Zscaler from a "neutral" rating to a "buy" rating and raised their target price for the company from $215.00 to $240.00 in a research note on Friday, March 7th. Eight 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 stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $239.31.

Insider Transactions at Zscaler

In other Zscaler news, Director Andrew William Fraser Brown sold 10,000 shares of the stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $206.00, for a total transaction of $2,060,000.00. Following the completion of the transaction, the director now owns 27,216 shares in the company, valued at $5,606,496. This trade represents a 26.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Ajay Mangal sold 190,480 shares of Zscaler 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 completion of the transaction, the insider now owns 2,580,210 shares of the company's stock, valued at $517,822,344.90. The trade was a 6.87% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 241,771 shares of company stock worth $50,165,040 in the last quarter. Insiders own 18.10% of the company's stock.

Zscaler Stock Performance

ZS stock traded up $1.28 during mid-day trading on Friday, hitting $254.10. The company had a trading volume of 2,002,874 shares, compared to its average volume of 2,055,924. The firm has a market cap of $39.32 billion, a PE ratio of -1,016.40 and a beta of 1.14. Zscaler, Inc. has a 12 month low of $153.45 and a 12 month high of $255.79. The stock's fifty day moving average price is $215.58 and its two-hundred day moving average price is $204.31.

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.