Tower Research Capital LLC TRC Increases Stock Position in Zscaler, Inc. (NASDAQ:ZS)

Tower Research Capital LLC TRC grew its holdings in shares of Zscaler, Inc. (NASDAQ:ZS - Free Report) by 107.4% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 6,304 shares of the company's stock after acquiring an additional 3,264 shares during the quarter. Tower Research Capital LLC TRC's holdings in Zscaler were worth $1,137,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in ZS. Global X Japan Co. Ltd. lifted its holdings in shares of Zscaler by 127.4% in the fourth quarter. Global X Japan Co. Ltd. now owns 141 shares of the company's stock valued at $25,000 after buying an additional 79 shares during the period. Summit Securities Group LLC acquired a new stake in shares of Zscaler in the fourth quarter valued at $27,000. Stonebridge Financial Group LLC acquired a new stake in shares of Zscaler during the fourth quarter worth $29,000. Versant Capital Management Inc raised its position in 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 buying an additional 104 shares during the period. Finally, Modus Advisors LLC acquired a new stake in shares of Zscaler in the fourth quarter worth $36,000. Institutional investors and hedge funds own 46.45% of the company's stock.

Zscaler Price Performance

ZS stock traded down $1.43 during trading on Wednesday, hitting $222.42. 535,368 shares of the stock traded hands, compared to its average volume of 1,995,232. The stock has a market cap of $34.41 billion, a price-to-earnings ratio of -889.65 and a beta of 1.12. The firm's 50 day moving average is $199.74 and its two-hundred day moving average is $197.72. Zscaler, Inc. has a 1 year low of $153.45 and a 1 year high of $224.70.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Jefferies Financial Group lowered their price target on shares of Zscaler from $245.00 to $240.00 and set a "buy" rating on the stock in a report on Monday, March 31st. The Goldman Sachs Group set a $207.00 price target on shares of Zscaler and gave the company a "neutral" rating in a report on Thursday, March 6th. Mizuho boosted their price target on shares of Zscaler from $210.00 to $225.00 and gave the company a "neutral" rating in a report on Wednesday, February 12th. Citigroup reaffirmed a "buy" rating and issued a $240.00 target price (up previously from $235.00) on shares of Zscaler in a report on Wednesday, March 5th. Finally, BMO Capital Markets upped their target price on shares of Zscaler from $222.00 to $233.00 and gave the company 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 assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $236.66.

Insider Buying and Selling at Zscaler

In other Zscaler news, major shareholder Ajay Mangal sold 190,480 shares of the business's stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $200.69, for a total value of $38,227,431.20. Following the completion of 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jagtar Singh Chaudhry sold 2,155 shares of the stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $199.15, for a total transaction of $429,168.25. Following the transaction, the chief executive officer now owns 356,414 shares in the company, valued at approximately $70,979,848.10. This trade represents a 0.60 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 209,234 shares of company stock worth $42,030,790. 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.