USS Investment Management Ltd Lowers Stock Holdings in Zscaler, Inc. (NASDAQ:ZS)

USS Investment Management Ltd trimmed its position in Zscaler, Inc. (NASDAQ:ZS - Free Report) by 9.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 18,096 shares of the company's stock after selling 1,965 shares during the quarter. USS Investment Management Ltd's holdings in Zscaler were worth $3,266,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. AQR Capital Management LLC grew its position in 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 period. Natixis purchased a new stake in shares of Zscaler in the fourth quarter worth about $87,775,000. Greenvale Capital LLP acquired a new stake in Zscaler during the fourth quarter worth about $72,164,000. Pictet Asset Management Holding SA grew its holdings in Zscaler by 25.8% during the fourth 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 during the period. Finally, DnB Asset Management AS raised its position in Zscaler by 66.8% during the fourth quarter. DnB Asset Management AS now owns 667,383 shares of the company's stock valued at $120,403,000 after acquiring an additional 267,162 shares in the last quarter. Institutional investors and hedge funds own 46.45% of the company's stock.

Zscaler Stock Down 1.4%

NASDAQ:ZS traded down $3.65 on Wednesday, hitting $253.65. The stock had a trading volume of 2,218,629 shares, compared to its average volume of 2,058,439. The company has a fifty day moving average price of $217.66 and a two-hundred day moving average price of $205.21. Zscaler, Inc. has a 1-year low of $153.45 and a 1-year high of $259.40. The stock has a market cap of $39.25 billion, a price-to-earnings ratio of -1,014.60 and a beta of 1.14.

Analysts Set New Price Targets

A number of research firms recently weighed in on ZS. The Goldman Sachs Group set a $207.00 price target on Zscaler and gave the stock a "neutral" rating in a report on Thursday, March 6th. UBS Group upped their target price on Zscaler from $250.00 to $260.00 and gave the stock a "buy" rating in a research note on Thursday, March 6th. BTIG Research set a $252.00 price target on shares of Zscaler and gave the company a "buy" rating in a research note on Thursday, March 6th. JPMorgan Chase & Co. boosted their price target on shares of Zscaler from $250.00 to $275.00 and gave the stock an "overweight" rating in a report on Friday, May 23rd. Finally, Wedbush increased their price objective on shares of Zscaler from $230.00 to $240.00 and gave the company an "outperform" rating in a report on Thursday, March 6th. Eight investment analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the stock. Based on data from MarketBeat.com, Zscaler currently has a consensus rating of "Moderate Buy" and a consensus target price of $240.09.

Insider Activity

In related news, insider Syam Nair sold 28,947 shares of the firm's stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $250.00, for a total transaction of $7,236,750.00. Following the completion of the sale, the insider now directly owns 110,566 shares of the company's stock, valued at approximately $27,641,500. This trade represents a 20.75% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Ajay Mangal sold 190,480 shares of the company's stock in a transaction dated 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 completion of the transaction, the insider now directly owns 2,580,210 shares in the company, 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. In the last 90 days, insiders have sold 241,771 shares of company stock valued at $50,165,040. 18.10% of the stock is currently owned by company insiders.

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.