Zacks Investment Management Makes New Investment in Zscaler, Inc. (NASDAQ:ZS)

Zacks Investment Management purchased a new position in Zscaler, Inc. (NASDAQ:ZS - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 67,646 shares of the company's stock, valued at approximately $12,204,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Global X Japan Co. Ltd. raised its stake in 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 last quarter. Summit Securities Group LLC acquired a new position in Zscaler during the fourth quarter worth about $27,000. Stonebridge Financial Group LLC acquired a new stake in Zscaler in the 4th quarter valued at about $29,000. Versant Capital Management Inc boosted its holdings in shares of Zscaler by 136.8% during the 4th quarter. Versant Capital Management Inc now owns 180 shares of the company's stock worth $32,000 after purchasing an additional 104 shares during the last quarter. Finally, Modus Advisors LLC purchased a new stake in shares of Zscaler in the fourth quarter valued at approximately $36,000. 46.45% of the stock is owned by hedge funds and other institutional investors.

Zscaler Stock Up 1.0 %

Zscaler stock traded up $1.90 during midday trading on Tuesday, reaching $195.60. The company's stock had a trading volume of 272,782 shares, compared to its average volume of 1,970,636. The company has a market cap of $30.26 billion, a P/E ratio of -781.88 and a beta of 1.12. The business has a 50-day simple moving average of $199.99 and a 200-day simple moving average of $196.74. Zscaler, Inc. has a fifty-two week low of $153.45 and a fifty-two week high of $217.84.

Insider Transactions at Zscaler

In other Zscaler news, CEO Jagtar Singh Chaudhry sold 2,155 shares of the firm's stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $199.15, for a total transaction of $429,168.25. Following the transaction, 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Ajay Mangal sold 190,480 shares of the business's stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $200.69, for a total value of $38,227,431.20. Following the completion of the sale, the insider now directly owns 2,580,210 shares of the company's stock, valued at $517,822,344.90. The trade was a 6.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 209,234 shares of company stock valued at $42,030,790. Corporate insiders own 18.10% of the company's stock.

Analysts Set New Price Targets

Several analysts have issued reports on ZS shares. Morgan Stanley dropped their target price on Zscaler from $205.00 to $200.00 and set an "equal weight" rating for the company in a report on Wednesday, April 16th. JPMorgan Chase & Co. increased their price target on shares of Zscaler from $240.00 to $250.00 and gave the company an "overweight" rating in a research note on Thursday, March 6th. Cantor Fitzgerald upgraded Zscaler from a "neutral" rating to an "overweight" rating and increased their price objective for the stock from $220.00 to $250.00 in a research report on Thursday, April 3rd. Stephens began coverage on Zscaler in a research note on Tuesday, April 1st. They issued an "overweight" rating and a $255.00 price target on the stock. Finally, Sanford C. Bernstein restated an "outperform" rating and issued a $244.00 price objective on shares of Zscaler in a report on Thursday, March 6th. Eight analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $234.77.

Zscaler Company 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.