Zscaler, Inc. (NASDAQ:ZS) Shares Sold by Price T Rowe Associates Inc. MD

Price T Rowe Associates Inc. MD reduced its stake in shares of Zscaler, Inc. (NASDAQ:ZS - Free Report) by 16.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 847,826 shares of the company's stock after selling 169,330 shares during the quarter. Price T Rowe Associates Inc. MD owned about 0.55% of Zscaler worth $152,957,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in ZS. Geode Capital Management LLC boosted its position in shares of Zscaler by 2.0% during the 4th quarter. Geode Capital Management LLC now owns 1,658,406 shares of the company's stock valued at $298,710,000 after acquiring an additional 32,545 shares during the last quarter. Pictet Asset Management Holding SA boosted its position in shares of Zscaler by 25.8% during the 4th quarter. Pictet Asset Management Holding SA now owns 1,618,176 shares of the company's stock valued at $291,935,000 after acquiring an additional 332,307 shares during the last quarter. Artisan Partners Limited Partnership boosted its position in shares of Zscaler by 30.9% during the 4th quarter. Artisan Partners Limited Partnership now owns 868,795 shares of the company's stock valued at $156,739,000 after acquiring an additional 204,996 shares during the last quarter. DnB Asset Management AS boosted its position in shares of Zscaler by 66.8% during the 4th 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 during the last quarter. Finally, Bank of New York Mellon Corp lifted its position in Zscaler by 3.2% in the fourth quarter. Bank of New York Mellon Corp now owns 539,113 shares of the company's stock worth $97,261,000 after buying an additional 16,742 shares during the last quarter. 46.45% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages recently issued reports on ZS. Sanford C. Bernstein restated an "outperform" rating and issued a $244.00 price target on shares of Zscaler in a research report on Thursday, March 6th. Royal Bank of Canada raised their price target on Zscaler from $230.00 to $250.00 and gave the stock an "outperform" rating in a research report on Thursday, March 6th. Morgan Stanley lowered their price target on Zscaler from $205.00 to $200.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 16th. The Goldman Sachs Group set a $207.00 price target on Zscaler and gave the stock a "neutral" rating in a research report on Thursday, March 6th. Finally, Jefferies Financial Group decreased their target price on Zscaler from $245.00 to $240.00 and set a "buy" rating for the company in a research report on Monday, March 31st. 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. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $236.66.

Zscaler Price Performance

Zscaler stock traded up $0.89 during mid-day trading on Thursday, reaching $227.06. 2,909,951 shares of the company traded hands, compared to its average volume of 2,007,996. Zscaler, Inc. has a fifty-two week low of $153.45 and a fifty-two week high of $230.70. The company has a market capitalization of $35.13 billion, a price-to-earnings ratio of -908.24 and a beta of 1.12. The firm's fifty day moving average is $200.30 and its two-hundred day moving average is $197.92.

Insider Buying and Selling at Zscaler

In other news, Director Andrew William Fraser Brown sold 10,000 shares of the stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $206.00, for a total value of $2,060,000.00. Following the sale, the director now 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Ajay Mangal sold 190,480 shares of the stock in a transaction 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 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. In the last quarter, insiders have sold 209,234 shares of company stock worth $42,030,790. 18.10% of the stock is owned by corporate 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.