Light Street Capital Management LLC acquired a new position in shares of Zscaler, Inc. (NASDAQ:ZS - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 33,215 shares of the company's stock, valued at approximately $5,992,000. Zscaler makes up approximately 1.1% of Light Street Capital Management LLC's investment portfolio, making the stock its 22nd largest position.
Several other institutional investors have also recently modified their holdings of ZS. Investment Management Corp of Ontario lifted its holdings in Zscaler by 45.5% in the 4th quarter. Investment Management Corp of Ontario now owns 4,509 shares of the company's stock valued at $813,000 after purchasing an additional 1,411 shares in the last quarter. Graham Capital Management L.P. lifted its stake in shares of Zscaler by 371.9% during the fourth quarter. Graham Capital Management L.P. now owns 8,023 shares of the company's stock valued at $1,447,000 after buying an additional 6,323 shares during the period. Greenvale Capital LLP purchased a new position in shares of Zscaler during the fourth quarter valued at approximately $72,164,000. Focus Partners Wealth boosted its position in Zscaler by 15.2% during the fourth quarter. Focus Partners Wealth now owns 60,566 shares of the company's stock worth $11,037,000 after acquiring an additional 8,002 shares during the last quarter. Finally, Ethic Inc. grew its stake in Zscaler by 5.3% in the 4th quarter. Ethic Inc. now owns 4,141 shares of the company's stock worth $747,000 after acquiring an additional 207 shares during the period. 46.45% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of brokerages have weighed in on ZS. Needham & Company LLC reissued a "buy" rating and set a $240.00 price target on shares of Zscaler in a research note on Wednesday, March 5th. BTIG Research set a $252.00 target price on Zscaler and gave the company a "buy" rating in a research note on Thursday, March 6th. Robert W. Baird raised their price target on Zscaler from $240.00 to $250.00 and gave the stock an "outperform" rating in a research note on Thursday, March 6th. Bank of America upgraded Zscaler from a "neutral" rating to a "buy" rating and lifted their price target for the company from $215.00 to $240.00 in a report on Friday, March 7th. Finally, Jefferies Financial Group cut their price objective on shares of Zscaler from $245.00 to $240.00 and set a "buy" rating on the stock in a report on Monday, March 31st. Eight equities research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Zscaler presently has a consensus rating of "Moderate Buy" and an average price target of $237.44.
Check Out Our Latest Stock Report on Zscaler
Zscaler Trading Up 0.6%
ZS stock traded up $1.47 during trading on Thursday, reaching $245.92. The stock had a trading volume of 3,097,651 shares, compared to its average volume of 2,037,141. The firm has a fifty day moving average price of $208.10 and a 200 day moving average price of $201.14. The company has a market capitalization of $38.05 billion, a P/E ratio of -983.68 and a beta of 1.14. Zscaler, Inc. has a 1-year low of $153.45 and a 1-year high of $247.28.
Insider Activity at Zscaler
In other Zscaler news, Director Andrew William Fraser Brown sold 10,000 shares of the stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $206.00, for a total transaction of $2,060,000.00. Following the transaction, the director now owns 27,216 shares of the company's stock, valued at $5,606,496. This trade represents a 26.87% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Ajay Mangal sold 190,480 shares of the business's stock in a transaction that occurred on 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 owns 2,580,210 shares of the company's stock, 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 90 days, insiders sold 209,234 shares of company stock valued at $42,030,790. Insiders own 18.10% of the company's stock.
About Zscaler
(
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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