Trivest Advisors Ltd Boosts Stock Position in Zscaler, Inc. (NASDAQ:ZS)

Trivest Advisors Ltd boosted its stake in shares of Zscaler, Inc. (NASDAQ:ZS - Free Report) by 95.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 250,000 shares of the company's stock after buying an additional 122,000 shares during the quarter. Zscaler makes up approximately 2.0% of Trivest Advisors Ltd's portfolio, making the stock its 18th biggest position. Trivest Advisors Ltd owned 0.16% of Zscaler worth $45,102,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Global X Japan Co. Ltd. lifted its holdings in Zscaler by 127.4% during the 4th quarter. Global X Japan Co. Ltd. now owns 141 shares of the company's stock worth $25,000 after buying an additional 79 shares during the period. Stonebridge Financial Group LLC acquired a new position in shares of Zscaler in the 4th quarter valued at about $29,000. Prestige Wealth Management Group LLC acquired a new position in shares of Zscaler in the 3rd quarter valued at about $31,000. Versant Capital Management Inc lifted its stake 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 purchasing an additional 104 shares during the period. Finally, True Wealth Design LLC lifted its stake in shares of Zscaler by 18,500.0% in the 3rd quarter. True Wealth Design LLC now owns 186 shares of the company's stock valued at $32,000 after purchasing an additional 185 shares during the period. 46.45% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, major shareholder Ajay Mangal sold 190,480 shares of the company's 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 transaction, the insider now 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jagtar Singh Chaudhry sold 2,155 shares of the company'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 value of $429,168.25. Following the completion of the transaction, the chief executive officer now owns 356,414 shares in the company, valued at approximately $70,979,848.10. The trade was a 0.60 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 199,234 shares of company stock valued at $39,970,790 over the last three months. Corporate insiders own 18.10% of the company's stock.

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Zscaler Trading Up 0.8 %

Shares of ZS stock traded up $1.65 during trading on Friday, hitting $205.20. The company's stock had a trading volume of 1,826,357 shares, compared to its average volume of 1,862,956. The company has a market cap of $31.75 billion, a PE ratio of -820.80 and a beta of 0.88. The business has a fifty day moving average of $199.74 and a 200-day moving average of $192.08. Zscaler, Inc. has a 52 week low of $153.45 and a 52 week high of $217.84.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on ZS shares. Bank of America raised Zscaler from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $215.00 to $240.00 in a research note on Friday, March 7th. Sanford C. Bernstein reissued an "outperform" rating and issued a $244.00 price objective on shares of Zscaler in a research note on Thursday, March 6th. 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 note on Thursday, March 6th. Barclays reissued an "overweight" rating on shares of Zscaler in a research note on Wednesday, March 5th. Finally, The Goldman Sachs Group set a $207.00 price target on Zscaler and gave the stock a "neutral" rating in a research note on Thursday, March 6th. Nine research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $232.68.

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.