PDT Partners LLC Has $1.14 Million Holdings in Zscaler, Inc. (NASDAQ:ZS)

PDT Partners LLC lessened its stake in Zscaler, Inc. (NASDAQ:ZS - Free Report) by 27.3% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm 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 reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in ZS. AQR Capital Management LLC lifted its stake in 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 acquiring an additional 525,956 shares in the last quarter. Natixis acquired a new stake in shares of Zscaler in the fourth quarter valued at approximately $87,775,000. Pictet Asset Management Holding SA lifted its position in shares of Zscaler by 25.8% in the fourth quarter. Pictet Asset Management Holding SA now owns 1,618,176 shares of the company's stock worth $291,935,000 after purchasing an additional 332,307 shares in the last quarter. DnB Asset Management AS boosted its holdings 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 last quarter. Finally, Artisan Partners Limited Partnership grew its position in Zscaler by 30.9% in the fourth 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. Institutional investors and hedge funds own 46.45% of the company's stock.

Zscaler Stock Performance

Shares of ZS traded up $3.41 during mid-day trading on Friday, reaching $230.47. The company had a trading volume of 1,747,265 shares, compared to its average volume of 2,012,352. The company has a market capitalization of $35.66 billion, a price-to-earnings ratio of -921.88 and a beta of 1.14. The company's 50 day simple moving average is $201.65 and its 200 day simple moving average is $198.42. Zscaler, Inc. has a 1-year low of $153.45 and a 1-year high of $231.93.

Analyst Ratings Changes

ZS has been the topic of several analyst reports. Citigroup reissued a "buy" rating and set a $240.00 price target (up from $235.00) on shares of Zscaler in a research report on Wednesday, March 5th. Robert W. Baird increased their price target on Zscaler from $240.00 to $250.00 and gave the company an "outperform" rating in a research report on Thursday, March 6th. BNP Paribas raised Zscaler from a "neutral" rating to an "outperform" rating and set a $260.00 price target on the stock in a research report on Monday, April 28th. Wells Fargo & Company increased their price objective on Zscaler from $190.00 to $210.00 and gave the company an "equal weight" rating in a report on Thursday, March 6th. Finally, Sanford C. Bernstein restated an "outperform" rating and set a $244.00 target price on shares of Zscaler in a report on Thursday, March 6th. Eight research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Zscaler has a consensus rating of "Moderate Buy" and a consensus price target of $236.66.

Insiders Place Their Bets

In related news, Director Andrew William Fraser Brown sold 10,000 shares of the company's stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $206.00, for a total value of $2,060,000.00. Following the sale, the director now directly owns 27,216 shares in the company, valued at $5,606,496. This represents a 26.87 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder Ajay Mangal sold 190,480 shares of the firm's stock in a transaction that occurred on 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 transaction, the insider now owns 2,580,210 shares of the company's stock, valued at approximately $517,822,344.90. The trade was a 6.87 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 209,234 shares of company stock valued at $42,030,790 in the last ninety days. 18.10% of the stock is currently owned by insiders.

About Zscaler

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.