Robeco Institutional Asset Management B.V. Raises Holdings in Zscaler, Inc. (NASDAQ:ZS)

Robeco Institutional Asset Management B.V. lifted its stake in Zscaler, Inc. (NASDAQ:ZS – Get Rating) by 73.4% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 50,966 shares of the company’s stock after buying an additional 21,582 shares during the quarter. Robeco Institutional Asset Management B.V.’s holdings in Zscaler were worth $8,376,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of ZS. Renaissance Technologies LLC purchased a new stake in shares of Zscaler in the first quarter worth about $168,365,000. Marshall Wace LLP boosted its stake in shares of Zscaler by 1,278.9% in the third quarter. Marshall Wace LLP now owns 453,939 shares of the company’s stock worth $74,616,000 after buying an additional 421,019 shares during the last quarter. Scge Management L.P. boosted its stake in shares of Zscaler by 67.9% in the second quarter. Scge Management L.P. now owns 987,000 shares of the company’s stock worth $147,566,000 after buying an additional 399,000 shares during the last quarter. Whale Rock Capital Management LLC purchased a new position in Zscaler during the second quarter worth approximately $47,685,000. Finally, Artisan Partners Limited Partnership boosted its position in Zscaler by 17.0% during the third quarter. Artisan Partners Limited Partnership now owns 1,865,180 shares of the company’s stock worth $306,580,000 after purchasing an additional 271,360 shares in the last quarter. Hedge funds and other institutional investors own 45.33% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on ZS. Scotiabank began coverage on Zscaler in a research report on Tuesday, January 17th. They set a “sector outperform” rating and a $115.00 price target on the stock. Morgan Stanley downgraded Zscaler from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $162.00 to $120.00 in a research report on Thursday, January 12th. MKM Partners lowered their price target on Zscaler from $225.00 to $190.00 and set a “buy” rating on the stock in a research report on Monday, November 28th. Mizuho lowered their price target on Zscaler from $160.00 to $150.00 in a research report on Friday, March 3rd. Finally, JMP Securities decreased their target price on Zscaler from $280.00 to $225.00 and set a “market outperform” rating on the stock in a research report on Friday, December 2nd. Fourteen equities research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $170.14.

Insider Activity

In other news, CEO Jagtar Singh Chaudhry sold 900 shares of Zscaler stock in a transaction on Thursday, March 16th. The stock was sold at an average price of $106.79, for a total value of $96,111.00. Following the completion of the sale, the chief executive officer now directly owns 322,649 shares of the company’s stock, valued at $34,455,686.71. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, CFO Remo Canessa sold 6,229 shares of Zscaler stock in a transaction on Thursday, March 16th. The stock was sold at an average price of $106.79, for a total value of $665,194.91. Following the completion of the transaction, the chief financial officer now directly owns 295,863 shares in the company, valued at $31,595,209.77. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Jagtar Singh Chaudhry sold 900 shares of Zscaler stock in a transaction on Thursday, March 16th. The shares were sold at an average price of $106.79, for a total value of $96,111.00. Following the completion of the transaction, the chief executive officer now owns 322,649 shares of the company’s stock, valued at $34,455,686.71. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 16,412 shares of company stock valued at $1,752,637. 19.80% of the stock is currently owned by corporate insiders.

Zscaler Trading Down 2.4 %

Shares of NASDAQ ZS opened at $105.49 on Friday. Zscaler, Inc. has a twelve month low of $99.64 and a twelve month high of $253.74. The company has a current ratio of 2.01, a quick ratio of 2.01 and a debt-to-equity ratio of 2.16. The stock has a fifty day simple moving average of $122.67 and a 200-day simple moving average of $135.00. The stock has a market capitalization of $15.31 billion, a PE ratio of -46.07 and a beta of 0.88.

Zscaler Company Profile

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Zscaler, Inc engages in the provision of a cloud-based internet security platform. It offers Zero Trust Exchange, Zscaler Client Connector, Zscaler Internet Access, Zscaler Private Access, Zscaler B2B, Zscaler Cloud Protection, and Zscaler Digital Experience. The company was founded by Jagtar Singh Chaudhry and K.