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

Magnetar Financial LLC purchased a new stake in Zscaler, Inc. (NASDAQ:ZS) during the 4th quarter, Holdings Channel.com reports. The fund purchased 1,623 shares of the company’s stock, valued at approximately $293,000.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Geode Capital Management LLC increased its position in Zscaler by 3.9% during the 3rd quarter. Geode Capital Management LLC now owns 1,625,861 shares of the company’s stock worth $277,327,000 after purchasing an additional 60,414 shares during the period. Champlain Investment Partners LLC increased its position in Zscaler by 28.2% during the 3rd quarter. Champlain Investment Partners LLC now owns 1,289,350 shares of the company’s stock worth $220,401,000 after purchasing an additional 283,540 shares during the period. Bank of New York Mellon Corp increased its position 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 worth $97,261,000 after purchasing an additional 16,742 shares during the period. Westfield Capital Management Co. LP increased its position in Zscaler by 33.8% during the 3rd quarter. Westfield Capital Management Co. LP now owns 399,516 shares of the company’s stock worth $68,293,000 after purchasing an additional 100,814 shares during the period. Finally, Nomura Asset Management Co. Ltd. increased its position in Zscaler by 11.0% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 380,463 shares of the company’s stock worth $65,036,000 after purchasing an additional 37,801 shares during the period. Institutional investors and hedge funds own 46.45% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have issued reports on ZS shares. Sanford C. Bernstein reiterated an “outperform” rating and set a $244.00 target price on shares of Zscaler in a research report on Thursday, March 6th. The Goldman Sachs Group set a $207.00 price target on Zscaler and gave the stock a “neutral” rating in a report on Thursday, March 6th. Royal Bank of Canada upped their price target on Zscaler from $230.00 to $250.00 and gave the stock an “outperform” rating in a report on Thursday, March 6th. Loop Capital lowered their price target on Zscaler from $200.00 to $195.00 and set a “hold” rating on the stock in a report on Tuesday, December 3rd. Finally, Deutsche Bank Aktiengesellschaft upped their price target on Zscaler from $200.00 to $225.00 and gave the stock a “buy” rating in a report on Tuesday, December 3rd. Nine equities research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. According to data from MarketBeat, Zscaler currently has a consensus rating of “Moderate Buy” and a consensus price target of $232.68.

Zscaler Stock Performance

Shares of ZS stock opened at $205.20 on Friday. Zscaler, Inc. has a one year low of $153.45 and a one year high of $217.84. The company’s 50-day simple moving average is $199.74 and its 200-day simple moving average is $191.83. The stock has a market capitalization of $31.75 billion, a price-to-earnings ratio of -820.80 and a beta of 0.88.

Insider Transactions at Zscaler

In other news, insider Robert Schlossman sold 2,878 shares of Zscaler stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $199.15, for a total transaction of $573,153.70. Following the sale, the insider now owns 107,587 shares of the company’s stock, valued at approximately $21,425,951.05. The trade was a 2.61 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder Ajay Mangal sold 190,480 shares of Zscaler stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $200.69, for a total value of $38,227,431.20. Following the sale, the insider now directly owns 2,580,210 shares in the company, valued at approximately $517,822,344.90. This trade represents a 6.87 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 199,234 shares of company stock valued at $39,970,790. Insiders own 18.10% of the company’s stock.

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.