Twinbeech Capital LP Makes New $449,000 Investment in Zscaler, Inc. (NASDAQ:ZS)

Twinbeech Capital LP purchased a new position in shares of Zscaler, Inc. (NASDAQ:ZS - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,491 shares of the company's stock, valued at approximately $449,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Zweig DiMenna Associates LLC increased its holdings in Zscaler by 29.8% in the fourth quarter. Zweig DiMenna Associates LLC now owns 77,941 shares of the company's stock valued at $14,061,000 after purchasing an additional 17,900 shares during the period. Baader Bank Aktiengesellschaft increased its holdings in Zscaler by 30.3% in the fourth quarter. Baader Bank Aktiengesellschaft now owns 8,400 shares of the company's stock valued at $1,515,000 after purchasing an additional 1,952 shares during the period. SYM FINANCIAL Corp acquired a new stake in Zscaler in the fourth quarter valued at $303,000. Mediolanum International Funds Ltd grew its holdings in Zscaler by 17.2% during the 4th quarter. Mediolanum International Funds Ltd now owns 53,646 shares of the company's stock worth $9,800,000 after acquiring an additional 7,892 shares during the period. Finally, Pacer Advisors Inc. grew its holdings in Zscaler by 144.6% during the 4th quarter. Pacer Advisors Inc. now owns 35,820 shares of the company's stock worth $6,462,000 after acquiring an additional 21,173 shares during the period. 46.45% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have weighed in on ZS shares. Sanford C. Bernstein reiterated an "outperform" rating and set a $244.00 price target on shares of Zscaler in a report on Thursday, March 6th. UBS Group increased their price target on Zscaler from $250.00 to $260.00 and gave the stock a "buy" rating in a report on Thursday, March 6th. Mizuho increased their price target on Zscaler from $220.00 to $250.00 and gave the stock a "neutral" rating in a report on Thursday, May 15th. Scotiabank reiterated a "sector outperform" rating and set a $242.00 price target (up from $225.00) on shares of Zscaler in a report on Wednesday, March 5th. Finally, Citigroup reiterated a "buy" rating and set a $240.00 price target (up from $235.00) on shares of Zscaler in a report on Wednesday, March 5th. Eight equities research analysts have rated the stock with a hold rating and twenty-six have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $240.09.

Zscaler Price Performance

Shares of NASDAQ ZS traded down $4.40 during trading on Wednesday, reaching $252.90. 654,293 shares of the stock traded hands, compared to its average volume of 2,052,608. Zscaler, Inc. has a 52-week low of $153.45 and a 52-week high of $259.40. The company has a 50-day moving average of $217.66 and a 200-day moving average of $205.21. The stock has a market capitalization of $39.13 billion, a P/E ratio of -1,011.60 and a beta of 1.14.

Insider Activity

In related news, major shareholder Ajay Mangal sold 190,480 shares of the stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $200.69, for a total transaction of $38,227,431.20. Following the sale, the insider now owns 2,580,210 shares of the company's stock, valued at approximately $517,822,344.90. This represents a 6.87% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Syam Nair sold 28,947 shares of the stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $250.00, for a total value of $7,236,750.00. Following the sale, the insider now directly owns 110,566 shares in the company, valued at $27,641,500. This trade represents a 20.75% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 241,771 shares of company stock valued at $50,165,040 in the last 90 days. Insiders own 18.10% of the company's stock.

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.