Essex Investment Management Co. LLC Sells 5,442 Shares of Zscaler, Inc. (NASDAQ:ZS)

Essex Investment Management Co. LLC lessened its holdings in Zscaler, Inc. (NASDAQ:ZS) by 27.7% during the 4th quarter, Holdings Channel.com reports. The firm owned 14,187 shares of the company’s stock after selling 5,442 shares during the period. Essex Investment Management Co. LLC’s holdings in Zscaler were worth $2,559,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Van ECK Associates Corp lifted its position in Zscaler by 1,786.5% during the third quarter. Van ECK Associates Corp now owns 15,073 shares of the company’s stock valued at $2,728,000 after purchasing an additional 14,274 shares in the last quarter. SpiderRock Advisors LLC lifted its position in shares of Zscaler by 1,396.2% during the 3rd quarter. SpiderRock Advisors LLC now owns 17,146 shares of the company’s stock valued at $2,931,000 after buying an additional 16,000 shares in the last quarter. Objective Capital Management LLC bought a new position in shares of Zscaler during the 3rd quarter valued at approximately $203,000. United Capital Management of KS Inc. increased its holdings in Zscaler by 2.5% in the 3rd quarter. United Capital Management of KS Inc. now owns 29,756 shares of the company’s stock worth $5,086,000 after acquiring an additional 723 shares in the last quarter. Finally, Versor Investments LP raised its stake in Zscaler by 12.9% during the 3rd quarter. Versor Investments LP now owns 1,282 shares of the company’s stock worth $219,000 after acquiring an additional 146 shares during the period. Hedge funds and other institutional investors own 46.45% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Barclays reiterated an “overweight” rating on shares of Zscaler in a research report on Wednesday. BTIG Research upped their target price on shares of Zscaler from $205.00 to $238.00 and gave the stock a “buy” rating in a report on Wednesday, November 27th. Robert W. Baird raised their price target on Zscaler from $240.00 to $250.00 and gave the company an “outperform” rating in a report on Thursday. Cantor Fitzgerald raised Zscaler to a “hold” rating in a research note on Monday, November 18th. Finally, Canaccord Genuity Group increased their target price on Zscaler from $220.00 to $230.00 and gave the stock a “buy” rating in a research report on Tuesday, December 3rd. Eight equities research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $234.29.

Insider Activity

In related news, CEO Jagtar Singh Chaudhry sold 2,863 shares of the firm’s stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $200.32, for a total transaction of $573,516.16. Following the completion of the sale, the chief executive officer now directly owns 358,569 shares of the company’s stock, valued at approximately $71,828,542.08. This trade represents a 0.79 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Syam Nair sold 3,682 shares of the company’s stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $200.32, for a total value of $737,578.24. Following the completion of the transaction, the insider now directly owns 142,866 shares in the company, valued at $28,618,917.12. This trade represents a 2.51 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 10,248 shares of company stock valued at $2,052,879. 18.10% of the stock is currently owned by company insiders.

Zscaler Stock Performance

NASDAQ:ZS opened at $208.76 on Monday. The stock’s fifty day moving average is $196.78 and its 200 day moving average is $191.64. The firm has a market capitalization of $32.03 billion, a PE ratio of -835.04 and a beta of 0.88. Zscaler, Inc. has a fifty-two week low of $153.45 and a fifty-two week high of $217.84.

Zscaler Company 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.