MIG Capital LLC Buys New Stake in Zscaler, Inc. (NASDAQ:ZS)

MIG Capital LLC bought a new position in Zscaler, Inc. (NASDAQ:ZS - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 1,825 shares of the company's stock, valued at approximately $329,000.

Other institutional investors have also modified their holdings of the company. Pictet Asset Management Holding SA raised its holdings in shares of Zscaler by 25.8% during the fourth quarter. Pictet Asset Management Holding SA now owns 1,618,176 shares of the company's stock worth $291,935,000 after purchasing an additional 332,307 shares during the period. DnB Asset Management AS raised its stake in Zscaler by 66.8% during the fourth quarter. DnB Asset Management AS now owns 667,383 shares of the company's stock worth $120,403,000 after acquiring an additional 267,162 shares during the period. Artisan Partners Limited Partnership lifted its holdings in Zscaler by 30.9% in the fourth quarter. Artisan Partners Limited Partnership now owns 868,795 shares of the company's stock worth $156,739,000 after acquiring an additional 204,996 shares during the last quarter. Norges Bank bought a new position in Zscaler in the fourth quarter worth about $32,158,000. Finally, Raymond James Financial Inc. bought a new position in shares of Zscaler during the fourth quarter valued at approximately $28,072,000. Institutional investors and hedge funds own 46.45% of the company's stock.

Insider Buying and Selling

In related news, major shareholder Ajay Mangal sold 190,480 shares of the company's stock in a transaction on Monday, March 17th. The shares were sold at an average price of $200.69, for a total value of $38,227,431.20. Following the completion of the sale, the insider now directly owns 2,580,210 shares in the company, valued at approximately $517,822,344.90. This represents a 6.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Jagtar Singh Chaudhry sold 2,155 shares of the firm's stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $199.15, for a total value of $429,168.25. Following the transaction, the chief executive officer now owns 356,414 shares in the company, valued at approximately $70,979,848.10. This trade represents a 0.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 209,234 shares of company stock worth $42,030,790. Corporate insiders own 18.10% of the company's stock.

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Zscaler Trading Down 0.0 %

ZS stock traded down $0.03 during midday trading on Friday, reaching $195.33. The company had a trading volume of 710,040 shares, compared to its average volume of 2,063,973. The company has a 50 day moving average of $201.00 and a two-hundred day moving average of $195.13. The company has a market capitalization of $30.22 billion, a P/E ratio of -781.33 and a beta of 1.12. Zscaler, Inc. has a 1 year low of $153.45 and a 1 year high of $217.84.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on ZS. Wells Fargo & Company boosted their price objective on Zscaler from $190.00 to $210.00 and gave the company an "equal weight" rating in a research report on Thursday, March 6th. Barclays restated an "overweight" rating on shares of Zscaler in a research report on Wednesday, March 5th. Royal Bank of Canada lifted their price objective on shares of Zscaler from $230.00 to $250.00 and gave the company an "outperform" rating in a research report on Thursday, March 6th. UBS Group upped their target price on shares of Zscaler from $250.00 to $260.00 and gave the stock a "buy" rating in a research report on Thursday, March 6th. Finally, Jefferies Financial Group decreased their price objective on Zscaler from $245.00 to $240.00 and set a "buy" rating for the company in a report on Monday, March 31st. Eight investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $234.94.

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.