Magnetar Financial LLC Purchases New Shares in Zscaler, Inc. (NASDAQ:ZS)

Magnetar Financial LLC purchased a new stake in shares of Zscaler, Inc. (NASDAQ:ZS) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 1,623 shares of the company’s stock, valued at approximately $293,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Geode Capital Management LLC grew its position in shares of Zscaler by 3.9% in the third quarter. Geode Capital Management LLC now owns 1,625,861 shares of the company’s stock valued at $277,327,000 after purchasing an additional 60,414 shares during the period. Champlain Investment Partners LLC grew its position in shares of Zscaler by 28.2% in the third quarter. Champlain Investment Partners LLC now owns 1,289,350 shares of the company’s stock valued at $220,401,000 after purchasing an additional 283,540 shares during the period. Bank of New York Mellon Corp grew its position in shares of Zscaler by 3.2% in the fourth quarter. Bank of New York Mellon Corp now owns 539,113 shares of the company’s stock valued at $97,261,000 after purchasing an additional 16,742 shares during the period. Westfield Capital Management Co. LP grew its position in shares of Zscaler by 33.8% in the third quarter. Westfield Capital Management Co. LP now owns 399,516 shares of the company’s stock valued at $68,293,000 after purchasing an additional 100,814 shares during the period. Finally, Nomura Asset Management Co. Ltd. lifted its stake in shares of Zscaler by 11.0% in the third quarter. Nomura Asset Management Co. Ltd. now owns 380,463 shares of the company’s stock worth $65,036,000 after buying an additional 37,801 shares in the last quarter. Institutional investors and hedge funds own 46.45% of the company’s stock.

Insider Buying and Selling

In other Zscaler news, insider Robert Schlossman sold 2,878 shares of Zscaler stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $199.15, for a total transaction of $573,153.70. Following the completion of the sale, the insider now directly 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Remo Canessa sold 3,721 shares of Zscaler stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $199.15, for a total value of $741,037.15. Following the sale, the chief financial officer now directly owns 213,702 shares of the company’s stock, valued at $42,558,753.30. This trade represents a 1.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 199,234 shares of company stock worth $39,970,790. Corporate insiders own 18.10% of the company’s stock.

Zscaler Trading Up 0.8 %

Shares of NASDAQ:ZS opened at $205.20 on Friday. Zscaler, Inc. has a 52 week low of $153.45 and a 52 week high of $217.84. The company’s 50 day moving average is $199.74 and its two-hundred day moving average is $191.83. The company has a market cap of $31.75 billion, a PE ratio of -820.80 and a beta of 0.88.

Analysts Set New Price Targets

Several research firms have recently weighed in on ZS. 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 research note on Thursday, March 6th. 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 research note 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 research note on Tuesday, December 3rd. BMO Capital Markets raised their price target on shares of Zscaler from $222.00 to $233.00 and gave the stock an “outperform” rating in a research note on Thursday, March 6th. Finally, Morgan Stanley began coverage on shares of Zscaler in a research note on Tuesday, March 18th. They issued an “equal weight” rating on the stock. Nine research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. According to MarketBeat, Zscaler has an average rating of “Moderate Buy” and an average price target of $232.68.

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.