Sciencast Management LP Raises Position in Zscaler, Inc. (NASDAQ:ZS)

Sciencast Management LP boosted its stake in Zscaler, Inc. (NASDAQ:ZS) by 61.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,555 shares of the company’s stock after buying an additional 2,120 shares during the quarter. Sciencast Management LP’s holdings in Zscaler were worth $1,002,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ZS. Champlain Investment Partners LLC raised its holdings in Zscaler by 28.2% in the 3rd quarter. Champlain Investment Partners LLC now owns 1,289,350 shares of the company’s stock valued at $220,401,000 after acquiring an additional 283,540 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in Zscaler in the 4th quarter valued at about $28,072,000. Trivest Advisors Ltd raised its holdings in Zscaler by 95.3% in the 4th quarter. Trivest Advisors Ltd now owns 250,000 shares of the company’s stock valued at $45,102,000 after acquiring an additional 122,000 shares during the last quarter. Westfield Capital Management Co. LP raised its holdings in Zscaler by 33.8% in the 3rd quarter. Westfield Capital Management Co. LP now owns 399,516 shares of the company’s stock valued at $68,293,000 after acquiring an additional 100,814 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its holdings in Zscaler by 59.7% in the 4th quarter. Assenagon Asset Management S.A. now owns 190,794 shares of the company’s stock valued at $34,421,000 after acquiring an additional 71,297 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 research firms have commented on ZS. Morgan Stanley assumed coverage on shares of Zscaler in a report on Tuesday, March 18th. They issued an “equal weight” rating for the company. Robert W. Baird raised their price target on shares of Zscaler from $240.00 to $250.00 and gave the stock an “outperform” rating in a report on Thursday, March 6th. JPMorgan Chase & Co. raised their price target on shares of Zscaler from $240.00 to $250.00 and gave the stock an “overweight” rating in a report on Thursday, March 6th. KeyCorp raised their price target on shares of Zscaler from $245.00 to $250.00 and gave the stock an “overweight” rating in a report on Tuesday, December 3rd. Finally, Royal Bank of Canada raised their price target on shares of Zscaler from $230.00 to $250.00 and gave the stock an “outperform” rating in a report on Thursday, March 6th. Nine research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $232.68.

Zscaler Stock Performance

NASDAQ:ZS opened at $205.20 on Friday. Zscaler, Inc. has a 1 year low of $153.45 and a 1 year high of $217.84. The stock has a market cap of $31.75 billion, a P/E ratio of -820.80 and a beta of 0.88. The stock has a 50-day simple moving average of $199.74 and a 200-day simple moving average of $191.83.

Insider Activity at Zscaler

In other Zscaler news, CFO Remo Canessa sold 3,721 shares of the company’s stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $199.15, for a total value of $741,037.15. Following the completion of the transaction, the chief financial officer now owns 213,702 shares in the company, valued at $42,558,753.30. This represents a 1.71 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder Ajay Mangal sold 190,480 shares of Zscaler 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 sale, the insider now 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. Insiders sold 199,234 shares of company stock valued at $39,970,790 over the last three months. 18.10% of the stock is owned by corporate insiders.

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.