13,423 Shares in Zscaler, Inc. (NASDAQ:ZS) Acquired by Headlands Technologies LLC

Headlands Technologies LLC purchased a new position in Zscaler, Inc. (NASDAQ:ZS - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 13,423 shares of the company's stock, valued at approximately $2,422,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Global X Japan Co. Ltd. increased its holdings in Zscaler by 127.4% in the fourth quarter. Global X Japan Co. Ltd. now owns 141 shares of the company's stock valued at $25,000 after buying an additional 79 shares during the last quarter. Summit Securities Group LLC acquired a new position in Zscaler in the fourth quarter worth $27,000. Stonebridge Financial Group LLC bought a new stake in Zscaler during the fourth quarter valued at $29,000. Prestige Wealth Management Group LLC acquired a new stake in shares of Zscaler during the third quarter worth $31,000. Finally, Versant Capital Management Inc boosted its holdings in shares of 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 buying an additional 104 shares during the period. Hedge funds and other institutional investors own 46.45% of the company's stock.

Zscaler Trading Down 7.2 %

ZS stock traded down $14.83 during mid-day trading on Thursday, reaching $192.21. 3,897,122 shares of the stock traded hands, compared to its average volume of 1,913,878. Zscaler, Inc. has a 52-week low of $153.45 and a 52-week high of $217.84. The stock's fifty day moving average is $202.77 and its 200-day moving average is $194.42. The company has a market cap of $29.74 billion, a P/E ratio of -768.84 and a beta of 1.12.

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Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on ZS shares. Morgan Stanley started coverage on shares of Zscaler in a research note on Tuesday, March 18th. They set an "equal weight" rating on the stock. Stephens initiated coverage on Zscaler in a report on Tuesday. They issued an "overweight" rating and a $255.00 price target on the stock. The Goldman Sachs Group set a $207.00 price objective on Zscaler and gave the stock a "neutral" rating in a research note on Thursday, March 6th. Sanford C. Bernstein reissued an "outperform" rating and set a $244.00 price target on shares of Zscaler in a report on Thursday, March 6th. Finally, Royal Bank of Canada upped their price target on shares of Zscaler from $230.00 to $250.00 and gave the stock an "outperform" rating in a research report on Thursday, March 6th. Eight equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Zscaler currently has an average rating of "Moderate Buy" and a consensus target price of $234.94.

Insider Activity

In other Zscaler news, CFO Remo Canessa sold 3,721 shares of the stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $199.15, for a total transaction of $741,037.15. Following the transaction, the chief financial officer now directly owns 213,702 shares of the company's stock, valued at $42,558,753.30. This represents a 1.71 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Robert Schlossman sold 2,878 shares of the firm's stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $199.15, for a total transaction of $573,153.70. Following the completion of the transaction, the insider now owns 107,587 shares in the company, valued at $21,425,951.05. The trade was a 2.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 199,234 shares of company stock worth $39,970,790 over the last 90 days. 18.10% of the stock is owned by company insiders.

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.