Worldquant Millennium Advisors LLC Invests $31.95 Million in Zscaler, Inc. (NASDAQ:ZS)

Worldquant Millennium Advisors LLC acquired a new position in shares of Zscaler, Inc. (NASDAQ:ZS - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 177,095 shares of the company's stock, valued at approximately $31,950,000. Worldquant Millennium Advisors LLC owned 0.12% of Zscaler at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of ZS. Vident Advisory LLC increased its position in Zscaler by 31.8% in the 4th quarter. Vident Advisory LLC now owns 67,221 shares of the company's stock worth $12,127,000 after buying an additional 16,224 shares during the period. Twinbeech Capital LP bought a new position in Zscaler during the fourth quarter worth $449,000. Tidal Investments LLC raised its stake in Zscaler by 32.8% during the 4th quarter. Tidal Investments LLC now owns 45,275 shares of the company's stock valued at $8,168,000 after purchasing an additional 11,177 shares during the last quarter. True Wealth Design LLC boosted its holdings in Zscaler by 120.4% in the 4th quarter. True Wealth Design LLC now owns 410 shares of the company's stock valued at $74,000 after purchasing an additional 224 shares during the period. Finally, Siemens Fonds Invest GmbH bought a new stake in Zscaler in the 4th quarter valued at $2,047,000. 46.45% of the stock is currently owned by institutional investors and hedge funds.

Zscaler Stock Up 0.5%

ZS stock traded up $1.28 during midday trading on Friday, reaching $254.10. The stock 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 price-to-earnings ratio of -1,016.40 and a beta of 1.14. The business has a fifty day simple moving average of $215.58 and a two-hundred day simple moving average of $204.31. Zscaler, Inc. has a twelve month low of $153.45 and a twelve month high of $255.79.

Insiders Place Their Bets

In related news, insider Robert Schlossman sold 3,590 shares of Zscaler stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $250.00, for a total transaction of $897,500.00. Following the transaction, the insider now owns 100,230 shares of the company's stock, valued at $25,057,500. This trade represents a 3.46% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Syam Nair sold 28,947 shares of the business's stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $250.00, for a total transaction of $7,236,750.00. Following the transaction, the insider now owns 110,566 shares of the company's stock, valued at approximately $27,641,500. This represents a 20.75% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 241,771 shares of company stock valued at $50,165,040. Company insiders own 18.10% of the company's stock.

Analysts Set New Price Targets

ZS has been the subject of a number of research analyst reports. Scotiabank reaffirmed a "sector outperform" rating and set a $242.00 price objective (up previously from $225.00) on shares of Zscaler in a research report on Wednesday, March 5th. Stifel Nicolaus upped their price target on Zscaler from $235.00 to $270.00 and gave the company a "buy" rating in a report on Friday, May 16th. UBS Group raised their price objective on Zscaler from $250.00 to $260.00 and gave the stock a "buy" rating in a research report on Thursday, March 6th. Rosenblatt Securities restated a "buy" rating and set a $235.00 price objective on shares of Zscaler in a research report on Tuesday, April 15th. Finally, Mizuho upped their target price on Zscaler from $220.00 to $250.00 and gave the company a "neutral" rating in a research note on Thursday, May 15th. Eight 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 stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $239.31.

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.