Abacus FCF Advisors LLC Raises Stock Holdings in Zscaler, Inc. (NASDAQ:ZS)

Abacus FCF Advisors LLC lifted its position in shares of Zscaler, Inc. (NASDAQ:ZS) by 77.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,643 shares of the company’s stock after buying an additional 6,835 shares during the period. Abacus FCF Advisors LLC’s holdings in Zscaler were worth $2,822,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. The Manufacturers Life Insurance Company lifted its holdings in Zscaler by 9.1% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 6,969 shares of the company’s stock worth $1,191,000 after buying an additional 581 shares during the period. Captrust Financial Advisors boosted its stake in shares of Zscaler by 11.2% during the 3rd quarter. Captrust Financial Advisors now owns 5,024 shares of the company’s stock valued at $859,000 after purchasing an additional 504 shares in the last quarter. Benjamin Edwards Inc. purchased a new position in shares of Zscaler during the third quarter valued at about $449,000. Janus Henderson Group PLC raised its stake in Zscaler by 9.0% in the third quarter. Janus Henderson Group PLC now owns 9,444 shares of the company’s stock worth $1,614,000 after buying an additional 782 shares in the last quarter. Finally, Quantinno Capital Management LP lifted its holdings in Zscaler by 117.5% in the third quarter. Quantinno Capital Management LP now owns 13,144 shares of the company’s stock worth $2,247,000 after buying an additional 7,100 shares during the period. 46.45% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Andrew William Fraser Brown sold 10,000 shares of the firm’s stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $206.00, for a total value of $2,060,000.00. Following the completion of the sale, the director now directly owns 27,216 shares in the company, valued at $5,606,496. This trade represents a 26.87 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Remo Canessa sold 3,721 shares of the business’s stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $199.15, for a total transaction of $741,037.15. Following the transaction, the chief financial officer now owns 213,702 shares in the company, valued at $42,558,753.30. This trade represents a 1.71 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 209,234 shares of company stock worth $42,030,790. 18.10% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on ZS shares. Barclays restated an “overweight” rating on shares of Zscaler in a research report on Wednesday, March 5th. Mizuho boosted 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. Royal Bank of Canada increased their price target on shares of Zscaler from $230.00 to $250.00 and gave the stock an “outperform” rating in a research note on Thursday, March 6th. The Goldman Sachs Group set a $207.00 price objective on shares of Zscaler and gave the stock a “neutral” rating in a research note on Thursday, March 6th. Finally, BTIG Research set a $252.00 target price on shares of Zscaler and gave the company a “buy” rating in a report on Thursday, March 6th. Eight investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Zscaler presently has an average rating of “Moderate Buy” and a consensus price target of $234.94.

Zscaler Trading Up 3.1 %

Shares of Zscaler stock opened at $180.05 on Tuesday. Zscaler, Inc. has a 12 month low of $153.45 and a 12 month high of $217.84. The stock has a 50 day moving average of $202.16 and a 200 day moving average of $194.83. The firm has a market cap of $27.86 billion, a PE ratio of -720.20 and a beta of 1.12.

About Zscaler

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.