2,656 Shares in Zscaler, Inc. (NASDAQ:ZS) Acquired by Left Brain Wealth Management LLC

Left Brain Wealth Management LLC purchased a new stake in Zscaler, Inc. (NASDAQ:ZS - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 2,656 shares of the company's stock, valued at approximately $479,000.

Other institutional investors and hedge funds have also modified their holdings of the company. LBP AM SA boosted its stake in shares of Zscaler by 14.7% in the 4th quarter. LBP AM SA now owns 366,978 shares of the company's stock valued at $66,207,000 after purchasing an additional 47,041 shares in the last quarter. Erste Asset Management GmbH boosted its stake in shares of Zscaler by 0.6% in the 4th quarter. Erste Asset Management GmbH now owns 9,780 shares of the company's stock valued at $1,805,000 after purchasing an additional 56 shares in the last quarter. Tredje AP fonden boosted its stake in shares of Zscaler by 379.2% in the 4th quarter. Tredje AP fonden now owns 69,670 shares of the company's stock valued at $12,569,000 after purchasing an additional 55,130 shares in the last quarter. Sequoia Financial Advisors LLC boosted its stake in shares of Zscaler by 7.0% in the 4th quarter. Sequoia Financial Advisors LLC now owns 48,775 shares of the company's stock valued at $8,799,000 after purchasing an additional 3,191 shares in the last quarter. Finally, HighTower Advisors LLC boosted its stake in shares of Zscaler by 12.1% in the 4th quarter. HighTower Advisors LLC now owns 72,391 shares of the company's stock valued at $13,060,000 after purchasing an additional 7,817 shares in the last quarter. 46.45% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on ZS shares. Needham & Company LLC restated a "buy" rating and issued a $240.00 price target on shares of Zscaler in a research note on Wednesday, March 5th. Rosenblatt Securities raised shares of Zscaler from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $190.00 to $235.00 in a research report on Thursday, March 6th. The Goldman Sachs Group set a $207.00 price objective on shares of Zscaler and gave the stock a "neutral" rating in a research report on Thursday, March 6th. Scotiabank reaffirmed a "sector outperform" rating and set a $242.00 price objective (up previously from $225.00) on shares of Zscaler in a research report on Wednesday, March 5th. Finally, Bank of America raised shares of Zscaler from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $215.00 to $240.00 in a research report on Friday, March 7th. Nine research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $233.06.

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Zscaler Stock Performance

NASDAQ ZS traded down $1.06 during trading on Tuesday, hitting $201.59. 1,610,931 shares of the company's stock traded hands, compared to its average volume of 1,870,263. The stock has a market capitalization of $31.19 billion, a price-to-earnings ratio of -806.36 and a beta of 0.88. Zscaler, Inc. has a 12-month low of $153.45 and a 12-month high of $217.84. The business has a 50 day moving average of $198.42 and a 200-day moving average of $191.63.

About Zscaler

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.