Virtu Financial LLC Buys Shares of 17,434 Zscaler, Inc. (NASDAQ:ZS)

Virtu Financial LLC acquired a new position in Zscaler, Inc. (NASDAQ:ZS - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 17,434 shares of the company's stock, valued at approximately $3,145,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Global X Japan Co. Ltd. increased its holdings in shares of Zscaler by 127.4% in the 4th quarter. Global X Japan Co. Ltd. now owns 141 shares of the company's stock valued at $25,000 after purchasing an additional 79 shares during the period. Stonebridge Financial Group LLC purchased a new position in Zscaler during the fourth quarter valued at approximately $29,000. Prestige Wealth Management Group LLC acquired a new position in Zscaler in the 3rd quarter valued at approximately $31,000. Versant Capital Management Inc lifted its position in Zscaler by 136.8% in the 4th quarter. Versant Capital Management Inc now owns 180 shares of the company's stock worth $32,000 after buying an additional 104 shares in the last quarter. Finally, True Wealth Design LLC lifted its position in Zscaler by 18,500.0% in the 3rd quarter. True Wealth Design LLC now owns 186 shares of the company's stock worth $32,000 after buying an additional 185 shares in the last quarter. 46.45% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. BMO Capital Markets upped their price target on shares of Zscaler from $222.00 to $233.00 and gave the stock an "outperform" rating in a research note on Thursday, March 6th. Robert W. Baird upped their target price on Zscaler from $240.00 to $250.00 and gave the stock an "outperform" rating in a research report on Thursday, March 6th. Oppenheimer lifted their price target on Zscaler from $230.00 to $250.00 and gave the company an "outperform" rating in a report on Tuesday, December 3rd. UBS Group increased their price objective on Zscaler from $250.00 to $260.00 and gave the stock a "buy" rating in a report on Thursday, March 6th. Finally, JMP Securities reiterated a "market outperform" rating and issued a $240.00 target price (down from $270.00) on shares of Zscaler in a research note on Tuesday, December 3rd. Nine analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company's stock. According to MarketBeat.com, Zscaler has a consensus rating of "Moderate Buy" and a consensus price target of $232.68.

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Insiders Place Their Bets

In related news, 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 completion of the sale, the insider now owns 2,580,210 shares in the company, valued at $517,822,344.90. This trade represents a 6.87 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Robert Schlossman sold 2,878 shares of the business's stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $199.15, for a total transaction of $573,153.70. Following the completion of the transaction, the insider now owns 107,587 shares in the company, valued at approximately $21,425,951.05. This trade represents a 2.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 199,234 shares of company stock worth $39,970,790 over the last 90 days. Corporate insiders own 18.10% of the company's stock.

Zscaler Stock Performance

Shares of NASDAQ:ZS traded down $4.18 during trading on Wednesday, hitting $211.55. 1,675,681 shares of the stock were exchanged, compared to its average volume of 1,864,937. The company's fifty day simple moving average is $200.82 and its 200-day simple moving average is $192.83. The company has a market capitalization of $32.73 billion, a price-to-earnings ratio of -846.20 and a beta of 0.88. Zscaler, Inc. has a 1-year low of $153.45 and a 1-year high of $217.84.

Zscaler 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.