Frontier Capital Management Co. LLC Boosts Position in Zscaler, Inc. (NASDAQ:ZS)

Frontier Capital Management Co. LLC increased its position in shares of Zscaler, Inc. (NASDAQ:ZS - Free Report) by 12,029.1% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 232,636 shares of the company's stock after purchasing an additional 230,718 shares during the quarter. Frontier Capital Management Co. LLC owned approximately 0.15% of Zscaler worth $41,970,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently modified their holdings of ZS. Global X Japan Co. Ltd. grew its stake in shares of Zscaler by 127.4% in the fourth quarter. Global X Japan Co. Ltd. now owns 141 shares of the company's stock worth $25,000 after acquiring an additional 79 shares in the last quarter. Summit Securities Group LLC acquired a new stake in shares of Zscaler during the fourth quarter worth about $27,000. Colonial Trust Co SC purchased a new position in shares of Zscaler in the 4th quarter valued at approximately $28,000. Stonebridge Financial Group LLC purchased a new position in Zscaler during the 4th quarter worth $29,000. Finally, Versant Capital Management Inc lifted its position in Zscaler by 136.8% in the fourth quarter. Versant Capital Management Inc now owns 180 shares of the company's stock valued at $32,000 after purchasing an additional 104 shares during the period. 46.45% of the stock is owned by hedge funds and other institutional investors.

Zscaler Trading Down 0.0 %

Shares of ZS traded down $0.09 during trading hours on Friday, hitting $233.06. The company had a trading volume of 2,579,581 shares, compared to its average volume of 2,015,149. The company has a market capitalization of $36.06 billion, a PE ratio of -932.24 and a beta of 1.14. Zscaler, Inc. has a one year low of $153.45 and a one year high of $235.67. The company's fifty day moving average price is $205.63 and its two-hundred day moving average price is $200.03.

Analyst Upgrades and Downgrades

ZS has been the topic of several recent research reports. Roth Capital assumed coverage on shares of Zscaler in a research report on Wednesday, April 23rd. They issued a "neutral" rating and a $215.00 price objective on the stock. Barclays reissued an "overweight" rating on shares of Zscaler in a research report on Wednesday, March 5th. BMO Capital Markets upped their price target on Zscaler from $222.00 to $233.00 and gave the stock an "outperform" rating in a report on Thursday, March 6th. Stephens initiated coverage on Zscaler in a report on Tuesday, April 1st. They issued an "overweight" rating and a $255.00 price target for the company. Finally, JPMorgan Chase & Co. increased their price target on shares of Zscaler from $240.00 to $250.00 and gave the stock an "overweight" rating in a research report on Thursday, March 6th. 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 data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $236.66.

Insiders Place Their Bets

In other news, CEO Jagtar Singh Chaudhry sold 2,155 shares of the company's stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $199.15, for a total value of $429,168.25. Following the sale, the chief executive officer now directly owns 356,414 shares of the company's stock, valued at $70,979,848.10. This represents a 0.60 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Ajay Mangal sold 190,480 shares of the company's stock in a transaction dated Monday, March 17th. The stock was 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 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. Over the last 90 days, insiders sold 209,234 shares of company stock valued at $42,030,790. 18.10% of the stock is currently owned by corporate insiders.

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.