Jump Financial LLC Sells 23,477 Shares of Zscaler, Inc. (NASDAQ:ZS)

Jump Financial LLC lowered its position in Zscaler, Inc. (NASDAQ:ZS - Free Report) by 88.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 3,123 shares of the company's stock after selling 23,477 shares during the period. Jump Financial LLC's holdings in Zscaler were worth $563,000 as of its most recent SEC filing.

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

Analyst Ratings Changes

Several analysts have recently commented on the stock. Mizuho increased their target price on shares of Zscaler from $210.00 to $225.00 and gave the company a "neutral" rating in a report on Wednesday, February 12th. Morgan Stanley decreased their price objective on shares of Zscaler from $205.00 to $200.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 16th. Bank of America upgraded Zscaler from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $215.00 to $240.00 in a research note on Friday, March 7th. Wells Fargo & Company increased their price target on Zscaler from $190.00 to $210.00 and gave the company an "equal weight" rating in a research report on Thursday, March 6th. Finally, Stephens assumed coverage on Zscaler in a report on Tuesday, April 1st. They set an "overweight" rating and a $255.00 price target on the stock. 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 stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $236.66.

Zscaler Price Performance

Shares of NASDAQ:ZS traded up $1.69 on Tuesday, hitting $221.55. The company's stock had a trading volume of 643,718 shares, compared to its average volume of 1,991,289. Zscaler, Inc. has a 1 year low of $153.45 and a 1 year high of $222.99. The company has a market capitalization of $34.28 billion, a PE ratio of -886.18 and a beta of 1.12. The company has a 50-day simple moving average of $199.41 and a 200 day simple moving average of $197.54.

Insider Activity at Zscaler

In other news, major shareholder Ajay Mangal sold 190,480 shares of the stock in a transaction dated 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 directly owns 2,580,210 shares in the company, valued at approximately $517,822,344.90. This represents a 6.87 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Robert Schlossman sold 2,878 shares of the business's stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $199.15, for a total value of $573,153.70. Following the completion of the sale, the insider now owns 107,587 shares of the company's stock, valued at $21,425,951.05. The trade was a 2.61 % 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 over the last three months. 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.