Tradewinds LLC. Acquires New Position in Zscaler, Inc. (NASDAQ:ZS)

Tradewinds LLC. bought a new position in shares of Zscaler, Inc. (NASDAQ:ZS - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,304 shares of the company's stock, valued at approximately $235,000.

Several other hedge funds have also modified their holdings of the business. Global X Japan Co. Ltd. boosted its holdings in Zscaler by 127.4% during the fourth quarter. Global X Japan Co. Ltd. now owns 141 shares of the company's stock worth $25,000 after buying an additional 79 shares in the last quarter. Summit Securities Group LLC purchased a new stake in shares of Zscaler during the 4th quarter worth approximately $27,000. Stonebridge Financial Group LLC acquired a new stake in shares of Zscaler in the 4th quarter worth approximately $29,000. Prestige Wealth Management Group LLC purchased a new position in Zscaler in the 3rd quarter valued at approximately $31,000. Finally, Versant Capital Management Inc increased its stake in Zscaler by 136.8% in the 4th quarter. Versant Capital Management Inc now owns 180 shares of the company's stock valued at $32,000 after purchasing an additional 104 shares in the last quarter. 46.45% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Zscaler

In other Zscaler news, major shareholder Ajay Mangal sold 190,480 shares of the stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $200.69, for a total transaction of $38,227,431.20. Following the transaction, the insider now owns 2,580,210 shares of the company's stock, valued at $517,822,344.90. This trade represents a 6.87 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Jagtar Singh Chaudhry sold 2,155 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 value of $429,168.25. Following the completion of the transaction, the chief executive officer now owns 356,414 shares of the company's stock, valued at approximately $70,979,848.10. The trade was a 0.60 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 209,234 shares of company stock worth $42,030,790 in the last 90 days. 18.10% of the stock is owned by corporate insiders.

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Analysts Set New Price Targets

Several research firms have weighed in on ZS. Citigroup reissued a "buy" rating and issued a $240.00 target price (up previously from $235.00) on shares of Zscaler in a report on Wednesday, March 5th. Cantor Fitzgerald raised shares of Zscaler from a "neutral" rating to an "overweight" rating and increased their price objective for the company from $220.00 to $250.00 in a research note on Thursday. Scotiabank restated a "sector outperform" rating and set a $242.00 target price (up previously from $225.00) on shares of Zscaler in a research report on Wednesday, March 5th. UBS Group upped their price target on shares of Zscaler from $250.00 to $260.00 and gave the company a "buy" rating in a report on Thursday, March 6th. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $240.00 price target on shares of Zscaler in a research report on Wednesday, March 5th. Eight research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Zscaler presently has an average rating of "Moderate Buy" and an average price target of $234.94.

Zscaler Stock Down 7.2 %

Shares of Zscaler stock traded down $14.83 during trading hours on Thursday, hitting $192.21. 3,897,122 shares of the company's stock traded hands, compared to its average volume of 1,915,071. Zscaler, Inc. has a twelve month low of $153.45 and a twelve month high of $217.84. The company has a market cap of $29.74 billion, a PE ratio of -768.84 and a beta of 1.12. The stock has a 50 day simple moving average of $202.76 and a 200-day simple moving average of $194.41.

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.