BluePointe Capital Management LLC purchased a new position in Zscaler, Inc. (NASDAQ:ZS - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 6,837 shares of the company's stock, valued at approximately $1,233,000.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Geode Capital Management LLC grew its stake in Zscaler by 3.9% in the 3rd quarter. Geode Capital Management LLC now owns 1,625,861 shares of the company's stock worth $277,327,000 after buying an additional 60,414 shares in the last quarter. Champlain Investment Partners LLC lifted its holdings in shares of Zscaler by 28.2% during the 3rd quarter. Champlain Investment Partners LLC now owns 1,289,350 shares of the company's stock worth $220,401,000 after acquiring an additional 283,540 shares during the last quarter. Bank of New York Mellon Corp grew its position in Zscaler by 3.2% in the fourth quarter. Bank of New York Mellon Corp now owns 539,113 shares of the company's stock worth $97,261,000 after acquiring an additional 16,742 shares in the last quarter. Westfield Capital Management Co. LP increased its stake in Zscaler by 33.8% in the third quarter. Westfield Capital Management Co. LP now owns 399,516 shares of the company's stock valued at $68,293,000 after acquiring an additional 100,814 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. raised its position in Zscaler by 11.0% during the third quarter. Nomura Asset Management Co. Ltd. now owns 380,463 shares of the company's stock valued at $65,036,000 after purchasing an additional 37,801 shares in the last quarter. Hedge funds and other institutional investors own 46.45% of the company's stock.
Analyst Upgrades and Downgrades
A number of research firms have recently issued reports on ZS. JMP Securities reiterated a "market outperform" rating and issued a $240.00 price objective (down from $270.00) on shares of Zscaler in a report on Tuesday, December 3rd. Deutsche Bank Aktiengesellschaft upped their target price on Zscaler from $200.00 to $225.00 and gave the stock a "buy" rating in a research note on Tuesday, December 3rd. BTIG Research set a $252.00 price target on shares of Zscaler and gave the stock a "buy" rating in a research note on Thursday, March 6th. Susquehanna upped their price objective on shares of Zscaler from $210.00 to $225.00 and gave the company a "positive" rating in a research note on Tuesday, December 3rd. Finally, Citigroup reiterated a "buy" rating and issued a $240.00 target price (up previously from $235.00) on shares of Zscaler in a research report on Wednesday, March 5th. Nine equities research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. According to data from MarketBeat, Zscaler has an average rating of "Moderate Buy" and a consensus target price of $232.68.
Get Our Latest Analysis on Zscaler
Insider Buying and Selling at Zscaler
In related news, insider Robert Schlossman sold 2,878 shares of the company'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 $573,153.70. Following 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 position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Ajay Mangal sold 190,480 shares of the stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $200.69, for a total transaction of $38,227,431.20. Following the sale, the insider now directly owns 2,580,210 shares in the company, valued at $517,822,344.90. This trade represents a 6.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 199,234 shares of company stock valued at $39,970,790. Corporate insiders own 18.10% of the company's stock.
Zscaler Price Performance
NASDAQ ZS traded up $4.67 during trading hours on Monday, reaching $209.87. 1,573,763 shares of the company's stock traded hands, compared to its average volume of 1,861,800. Zscaler, Inc. has a 52-week low of $153.45 and a 52-week high of $217.84. The firm has a 50-day simple moving average of $200.20 and a 200 day simple moving average of $192.41. The firm has a market cap of $32.47 billion, a PE ratio of -839.48 and a beta of 0.88.
Zscaler Company Profile
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Free Report)
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.
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