Schonfeld Strategic Advisors LLC Takes Position in Zscaler, Inc. (NASDAQ:ZS)

Schonfeld Strategic Advisors LLC acquired a new stake in shares of Zscaler, Inc. (NASDAQ:ZS - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 1,254 shares of the company's stock, valued at approximately $226,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ZS. Wealth Enhancement Advisory Services LLC lifted its position in Zscaler by 1.3% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 11,666 shares of the company's stock valued at $1,994,000 after purchasing an additional 151 shares in the last quarter. Salem Investment Counselors Inc. raised its stake in shares of Zscaler by 1.9% in the fourth quarter. Salem Investment Counselors Inc. now owns 10,043 shares of the company's stock worth $1,812,000 after buying an additional 188 shares during the period. Pallas Capital Advisors LLC lifted its position in shares of Zscaler by 95.4% during the 4th quarter. Pallas Capital Advisors LLC now owns 4,491 shares of the company's stock valued at $810,000 after buying an additional 2,193 shares in the last quarter. Tlwm grew its stake in shares of Zscaler by 4.7% during the 4th quarter. Tlwm now owns 4,579 shares of the company's stock valued at $826,000 after acquiring an additional 206 shares during the period. Finally, Rockland Trust Co. bought a new position in shares of Zscaler during the 4th quarter valued at approximately $203,000. Institutional investors own 46.45% of the company's stock.

Zscaler Stock Up 1.5%

ZS stock opened at $245.00 on Wednesday. The stock has a market capitalization of $37.91 billion, a P/E ratio of -980.00 and a beta of 1.14. Zscaler, Inc. has a 52 week low of $153.45 and a 52 week high of $247.28. The firm has a 50-day simple moving average of $207.39 and a 200-day simple moving average of $200.84.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on ZS shares. UBS Group upped their price target on shares of Zscaler from $250.00 to $260.00 and gave the stock a "buy" rating in a research report on Thursday, March 6th. Roth Capital started coverage on shares of Zscaler in a report on Wednesday, April 23rd. They issued a "neutral" rating and a $215.00 target price for the company. Robert W. Baird raised their price target on Zscaler from $240.00 to $250.00 and gave the company an "outperform" rating in a report on Thursday, March 6th. Needham & Company LLC reaffirmed a "buy" rating and issued a $240.00 price objective on shares of Zscaler in a research note on Wednesday, March 5th. Finally, Bank of America upgraded Zscaler from a "neutral" rating to a "buy" rating and increased their target price for the stock from $215.00 to $240.00 in a research report on Friday, March 7th. Eight research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Zscaler presently has an average rating of "Moderate Buy" and an average target price of $236.66.

Insiders Place Their Bets

In other Zscaler news, CEO Jagtar Singh Chaudhry sold 2,155 shares of the stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $199.15, for a total value of $429,168.25. Following the completion of the sale, the chief executive officer now owns 356,414 shares in the company, valued at approximately $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 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 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 ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 209,234 shares of company stock worth $42,030,790. Corporate insiders own 18.10% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.