ProShare Advisors LLC Has $31.41 Million Holdings in Zscaler, Inc. (NASDAQ:ZS)

ProShare Advisors LLC lessened its stake in shares of Zscaler, Inc. (NASDAQ:ZS - Free Report) by 38.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 174,102 shares of the company's stock after selling 109,520 shares during the period. ProShare Advisors LLC owned approximately 0.11% of Zscaler worth $31,410,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ZS. Quantinno Capital Management LP grew its holdings in Zscaler by 26.8% during the 4th quarter. Quantinno Capital Management LP now owns 16,672 shares of the company's stock valued at $3,008,000 after buying an additional 3,528 shares in the last quarter. Nissay Asset Management Corp Japan ADV lifted its holdings in Zscaler by 8.8% during the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 26,608 shares of the company's stock worth $4,911,000 after buying an additional 2,141 shares during the period. Occudo Quantitative Strategies LP purchased a new stake in Zscaler during the fourth quarter worth $666,000. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Zscaler by 102.5% during the 4th quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,100 shares of the company's stock valued at $1,461,000 after purchasing an additional 4,100 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Zscaler by 10.6% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 531,395 shares of the company's stock worth $96,008,000 after acquiring an additional 50,867 shares during the last quarter. Institutional investors own 46.45% of the company's stock.

Zscaler Trading Down 0.2%

Shares of NASDAQ ZS traded down $0.62 during midday trading on Tuesday, reaching $251.95. The company's stock had a trading volume of 1,979,630 shares, compared to its average volume of 2,047,825. Zscaler, Inc. has a one year low of $153.45 and a one year high of $253.72. The company has a 50 day moving average price of $211.27 and a 200 day moving average price of $202.72. The company has a market cap of $38.98 billion, a price-to-earnings ratio of -1,007.80 and a beta of 1.14.

Wall Street Analyst Weigh In

A number of research firms recently commented on ZS. Robert W. Baird upped their price objective on Zscaler from $240.00 to $250.00 and gave the company an "outperform" rating in a report on Thursday, March 6th. Rosenblatt Securities reaffirmed a "buy" rating and issued a $235.00 target price on shares of Zscaler in a report on Tuesday, April 15th. UBS Group increased 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. The Goldman Sachs Group set a $207.00 price target on shares of Zscaler and gave the company a "neutral" rating in a research report on Thursday, March 6th. Finally, BMO Capital Markets raised their target price on shares of Zscaler from $222.00 to $233.00 and gave the stock an "outperform" rating in a research report on Thursday, March 6th. Eight 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 company's stock. According to MarketBeat, Zscaler currently has an average rating of "Moderate Buy" and an average target price of $238.53.

Insider Activity at Zscaler

In related news, 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 transaction, the insider now owns 107,587 shares in the company, valued at $21,425,951.05. This trade represents a 2.61% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Ajay Mangal sold 190,480 shares of the firm's stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $200.69, for a total transaction of $38,227,431.20. Following the completion of the transaction, the insider now directly owns 2,580,210 shares in the company, valued at $517,822,344.90. This trade represents a 6.87% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 241,771 shares of company stock valued at $50,165,040. 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.