Zscaler, Inc. (NASDAQ:ZS) Shares Sold by Mount Lucas Management LP

Mount Lucas Management LP lessened its holdings in Zscaler, Inc. (NASDAQ:ZS) by 17.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 836 shares of the company’s stock after selling 177 shares during the period. Mount Lucas Management LP’s holdings in Zscaler were worth $151,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Geode Capital Management LLC lifted its holdings 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 in the last quarter. Champlain Investment Partners LLC lifted its holdings 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 in the last quarter. Bank of New York Mellon Corp lifted its holdings 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 in the last quarter. Westfield Capital Management Co. LP lifted its holdings 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 in the last quarter. Finally, Nomura Asset Management Co. Ltd. lifted its holdings 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 valued at $65,036,000 after purchasing an additional 37,801 shares in the last quarter. Hedge funds and other institutional investors own 46.45% of the company’s stock.

Insider Activity at Zscaler

In other Zscaler news, CFO Remo Canessa sold 3,703 shares of the stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $200.32, for a total transaction of $741,784.96. Following the transaction, the chief financial officer now directly owns 220,635 shares in the company, valued at $44,197,603.20. This represents a 1.65 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Syam Nair sold 3,682 shares of the stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $200.32, for a total transaction of $737,578.24. Following the transaction, the insider now owns 142,866 shares in the company, valued at $28,618,917.12. This trade represents a 2.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 10,248 shares of company stock valued at $2,052,879. Corporate insiders own 18.10% of the company’s stock.

Zscaler Trading Down 6.7 %

ZS opened at $194.69 on Tuesday. The company has a fifty day simple moving average of $197.02 and a 200 day simple moving average of $191.62. The firm has a market cap of $29.87 billion, a price-to-earnings ratio of -778.76 and a beta of 0.88. Zscaler, Inc. has a twelve month low of $153.45 and a twelve month high of $217.84.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on ZS. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Zscaler from $200.00 to $225.00 and gave the company a “buy” rating in a research note on Tuesday, December 3rd. Sanford C. Bernstein reissued an “outperform” rating on shares of Zscaler in a research note on Thursday. JPMorgan Chase & Co. upped their price objective on shares of Zscaler from $240.00 to $250.00 and gave the company an “overweight” rating in a research note on Thursday, March 6th. Oppenheimer upped their price objective on shares of Zscaler from $230.00 to $250.00 and gave the company an “outperform” rating in a research note on Tuesday, December 3rd. Finally, KeyCorp upped their price objective on shares of Zscaler from $245.00 to $250.00 and gave the company an “overweight” rating in a research note on Tuesday, December 3rd. Nine analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $233.88.

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.