Brevan Howard Capital Management LP Purchases Shares of 13,288 Zscaler, Inc. (NASDAQ:ZS)

Brevan Howard Capital Management LP bought a new stake in shares of Zscaler, Inc. (NASDAQ:ZS - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 13,288 shares of the company's stock, valued at approximately $2,397,000.

Several other institutional investors have also added to or reduced their stakes in ZS. Wilmington Savings Fund Society FSB bought a new position in shares of Zscaler during the 3rd quarter valued at approximately $38,000. Versant Capital Management Inc increased its stake in shares of Zscaler by 136.8% in the fourth quarter. Versant Capital Management Inc now owns 180 shares of the company's stock worth $32,000 after purchasing an additional 104 shares in the last quarter. GAMMA Investing LLC raised its position in shares of Zscaler by 18.5% during the 4th quarter. GAMMA Investing LLC now owns 448 shares of the company's stock valued at $81,000 after purchasing an additional 70 shares during the period. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Zscaler by 1.3% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 11,666 shares of the company's stock valued at $1,994,000 after buying an additional 151 shares in the last quarter. Finally, Salem Investment Counselors Inc. boosted its holdings in Zscaler by 1.9% in the 4th quarter. Salem Investment Counselors Inc. now owns 10,043 shares of the company's stock worth $1,812,000 after buying an additional 188 shares during the period. 46.45% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Zscaler

In related news, major shareholder Ajay Mangal sold 190,480 shares of the company'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. This represents a 6.87 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jagtar Singh Chaudhry sold 2,155 shares of the firm'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 $429,168.25. Following the transaction, the chief executive officer now directly owns 356,414 shares in the company, valued at $70,979,848.10. This trade represents a 0.60 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 209,234 shares of company stock valued at $42,030,790 in the last three months. Company insiders own 18.10% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on ZS. Barclays restated an "overweight" rating on shares of Zscaler in a research report on Wednesday, March 5th. Cantor Fitzgerald upgraded Zscaler from a "neutral" rating to an "overweight" rating and upped their price target for the stock from $220.00 to $250.00 in a research note on Thursday, April 3rd. Wedbush lifted their price objective on shares of Zscaler from $230.00 to $240.00 and gave the company an "outperform" rating in a research report on Thursday, March 6th. BMO Capital Markets boosted their target price on shares of Zscaler from $222.00 to $233.00 and gave the stock an "outperform" rating in a report on Thursday, March 6th. Finally, Wells Fargo & Company raised their target price on shares of Zscaler from $190.00 to $210.00 and gave the company an "equal weight" rating in a research note on Thursday, March 6th. Eight equities research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Zscaler currently has a consensus rating of "Moderate Buy" and a consensus target price of $236.66.

Zscaler Trading Down 0.0 %

Shares of ZS traded down $0.09 during trading hours on Friday, reaching $233.06. 2,579,581 shares of the company traded hands, compared to its average volume of 2,012,710. The stock's fifty day moving average price is $205.63 and its 200 day moving average price is $199.90. The firm has a market cap of $36.06 billion, a price-to-earnings ratio of -932.24 and a beta of 1.14. Zscaler, Inc. has a 12-month low of $153.45 and a 12-month high of $235.67.

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.