Zscaler, Inc. (NASDAQ:ZS) Shares Sold by Prudential Financial Inc.

Prudential Financial Inc. reduced its holdings in Zscaler, Inc. (NASDAQ:ZS) by 5.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,010 shares of the company’s stock after selling 121 shares during the quarter. Prudential Financial Inc.’s holdings in Zscaler were worth $363,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Zweig DiMenna Associates LLC boosted its holdings in shares of Zscaler by 29.8% in the fourth quarter. Zweig DiMenna Associates LLC now owns 77,941 shares of the company’s stock valued at $14,061,000 after acquiring an additional 17,900 shares in the last quarter. Baader Bank Aktiengesellschaft lifted its position in Zscaler by 30.3% in the fourth quarter. Baader Bank Aktiengesellschaft now owns 8,400 shares of the company’s stock worth $1,515,000 after purchasing an additional 1,952 shares during the period. Everence Capital Management Inc. bought a new position in Zscaler during the 4th quarter valued at $565,000. SYM FINANCIAL Corp acquired a new position in shares of Zscaler during the 4th quarter valued at $303,000. Finally, Merit Financial Group LLC acquired a new stake in shares of Zscaler in the fourth quarter valued at $787,000. Institutional investors own 46.45% of the company’s stock.

Insider Activity

In other news, Director Andrew William Fraser Brown sold 10,000 shares of Zscaler stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $206.00, for a total value of $2,060,000.00. Following the transaction, the director now owns 27,216 shares of the company’s stock, valued at $5,606,496. This trade represents a 26.87 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Ajay Mangal sold 190,480 shares of the business’s stock in a transaction 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 sale, the insider now owns 2,580,210 shares of the company’s stock, valued at $517,822,344.90. The trade was a 6.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 209,234 shares of company stock worth $42,030,790. 18.10% of the stock is owned by corporate insiders.

Zscaler Stock Performance

Shares of ZS opened at $195.36 on Friday. The firm has a market cap of $30.23 billion, a PE ratio of -781.44 and a beta of 1.12. Zscaler, Inc. has a twelve month low of $153.45 and a twelve month high of $217.84. The firm’s 50 day moving average price is $201.00 and its 200 day moving average price is $195.13.

Analyst Upgrades and Downgrades

ZS has been the topic of a number of research analyst reports. UBS Group lifted their target price on Zscaler from $250.00 to $260.00 and gave the stock a “buy” rating in a report 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. Robert W. Baird increased their target price on shares of Zscaler from $240.00 to $250.00 and gave the company an “outperform” rating in a research note on Thursday, March 6th. Needham & Company LLC restated a “buy” rating and set a $240.00 target price on shares of Zscaler in a report on Wednesday, March 5th. Finally, Mizuho upped their price target on Zscaler from $210.00 to $225.00 and gave the company a “neutral” rating in a report on Wednesday, February 12th. Eight investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $234.94.

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.