PDT Partners LLC Cuts Stake in Zscaler, Inc. (NASDAQ:ZS)

PDT Partners LLC trimmed its holdings in Zscaler, Inc. (NASDAQ:ZS - Free Report) by 27.3% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 6,323 shares of the company's stock after selling 2,380 shares during the quarter. PDT Partners LLC's holdings in Zscaler were worth $1,141,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Global X Japan Co. Ltd. boosted its holdings in shares of Zscaler by 127.4% during the fourth quarter. Global X Japan Co. Ltd. now owns 141 shares of the company's stock worth $25,000 after purchasing an additional 79 shares during the period. Summit Securities Group LLC bought a new stake in shares of Zscaler in the 4th quarter worth approximately $27,000. Stonebridge Financial Group LLC purchased a new position in shares of Zscaler during the fourth quarter valued at approximately $29,000. Versant Capital Management Inc raised its holdings in shares of Zscaler by 136.8% during the fourth quarter. Versant Capital Management Inc now owns 180 shares of the company's stock valued at $32,000 after acquiring an additional 104 shares in the last quarter. Finally, Modus Advisors LLC purchased a new stake in Zscaler in the fourth quarter worth $36,000. 46.45% of the stock is currently owned by hedge funds and other institutional investors.

Zscaler Trading Up 0.2 %

ZS stock traded up $0.54 during trading on Tuesday, reaching $233.52. The stock had a trading volume of 738,535 shares, compared to its average volume of 2,008,332. The firm has a market cap of $36.13 billion, a PE ratio of -934.38 and a beta of 1.14. The stock's 50 day moving average is $202.39 and its two-hundred day moving average is $198.78. Zscaler, Inc. has a 52 week low of $153.45 and a 52 week high of $235.67.

Analysts Set New Price Targets

ZS has been the subject of several research reports. The Goldman Sachs Group set a $207.00 price objective on shares of Zscaler and gave the stock a "neutral" rating in a report on Thursday, March 6th. Wells Fargo & Company increased their price target on shares of Zscaler from $190.00 to $210.00 and gave the stock an "equal weight" rating in a research note on Thursday, March 6th. BMO Capital Markets lifted their price objective on Zscaler from $222.00 to $233.00 and gave the company an "outperform" rating in a research report on Thursday, March 6th. Barclays reissued an "overweight" rating on shares of Zscaler in a research report on Wednesday, March 5th. Finally, Cantor Fitzgerald upgraded Zscaler from a "neutral" rating to an "overweight" rating and lifted their price target for the company from $220.00 to $250.00 in a research report on Thursday, April 3rd. Eight equities research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $236.66.

Insider Transactions at Zscaler

In other Zscaler news, CEO Jagtar Singh Chaudhry sold 2,155 shares of the business's stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $199.15, for a total transaction 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 approximately $70,979,848.10. The trade was a 0.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Robert Schlossman sold 2,878 shares of the firm's stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $199.15, for a total value of $573,153.70. Following the completion of the transaction, the insider now directly owns 107,587 shares in the company, valued at $21,425,951.05. This trade represents a 2.61 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 209,234 shares of company stock worth $42,030,790 in the last quarter. Company insiders own 18.10% of the company's stock.

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.