Blueshift Asset Management LLC Invests $599,000 in Zscaler, Inc. (NASDAQ:ZS)

Blueshift Asset Management LLC bought a new stake in shares of Zscaler, Inc. (NASDAQ:ZS - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 3,319 shares of the company's stock, valued at approximately $599,000.

A number of other hedge funds have also recently bought and sold shares of ZS. Global X Japan Co. Ltd. increased its holdings in shares of 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 in the last quarter. Stonebridge Financial Group LLC acquired a new position in shares of Zscaler in the 4th quarter worth $29,000. Prestige Wealth Management Group LLC acquired a new position in shares of Zscaler in the 3rd quarter worth $31,000. True Wealth Design LLC raised its position in shares of Zscaler by 18,500.0% during the third quarter. True Wealth Design LLC now owns 186 shares of the company's stock worth $32,000 after purchasing an additional 185 shares during the period. Finally, Versant Capital Management Inc lifted its holdings in shares of Zscaler by 136.8% during the fourth quarter. Versant Capital Management Inc now owns 180 shares of the company's stock valued at $32,000 after purchasing an additional 104 shares during the last quarter. 46.45% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have issued reports on ZS. Canaccord Genuity Group boosted their price objective on Zscaler from $220.00 to $230.00 and gave the stock a "buy" rating in a report on Tuesday, December 3rd. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Zscaler from $200.00 to $225.00 and gave the stock a "buy" rating in a research report on Tuesday, December 3rd. Needham & Company LLC restated a "buy" rating and issued a $240.00 price target on shares of Zscaler in a research report on Wednesday, March 5th. BTIG Research set a $252.00 target price on shares of Zscaler and gave the company a "buy" rating in a research note on Thursday, March 6th. Finally, JMP Securities reiterated a "market outperform" rating and set a $240.00 price target (down previously from $270.00) on shares of Zscaler in a report on Tuesday, December 3rd. Nine investment analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $232.68.

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Zscaler Stock Up 2.8 %

Shares of ZS stock traded up $5.86 during trading hours on Tuesday, reaching $215.73. 2,310,958 shares of the company's stock were exchanged, compared to its average volume of 1,861,749. The stock has a market capitalization of $33.38 billion, a P/E ratio of -862.92 and a beta of 0.88. The business has a fifty day moving average price of $200.20 and a 200-day moving average price of $192.41. Zscaler, Inc. has a fifty-two week low of $153.45 and a fifty-two week high of $217.84.

Insider Activity at Zscaler

In other news, CEO Jagtar Singh Chaudhry sold 2,155 shares of the firm's stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $199.15, for a total transaction of $429,168.25. Following the completion of the sale, the chief executive officer now owns 356,414 shares of the company's stock, valued at approximately $70,979,848.10. This trade represents a 0.60 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, 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 value of $38,227,431.20. Following the sale, the insider now owns 2,580,210 shares in the company, valued at approximately $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. Insiders have sold a total of 199,234 shares of company stock valued at $39,970,790 in the last 90 days. 18.10% of the stock is owned by corporate insiders.

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.