Cache Advisors LLC Buys Shares of 2,466 Zscaler, Inc. (NASDAQ:ZS)

Cache Advisors LLC purchased a new position in shares of Zscaler, Inc. (NASDAQ:ZS - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 2,466 shares of the company's stock, valued at approximately $445,000.

Several other large investors also recently bought and sold shares of the business. Global X Japan Co. Ltd. boosted its position in shares of Zscaler by 127.4% during the 4th quarter. Global X Japan Co. Ltd. now owns 141 shares of the company's stock valued at $25,000 after acquiring an additional 79 shares during the last quarter. Summit Securities Group LLC acquired a new position in Zscaler in the 4th quarter valued at about $27,000. Colonial Trust Co SC purchased a new stake in shares of Zscaler in the 4th quarter valued at approximately $28,000. Stonebridge Financial Group LLC acquired a new stake in shares of Zscaler during the 4th quarter worth approximately $29,000. Finally, Elequin Capital LP purchased a new stake in shares of Zscaler during the 4th quarter valued at approximately $30,000. Hedge funds and other institutional investors own 46.45% of the company's stock.

Zscaler Stock Down 1.4%

Shares of ZS traded down $3.65 on Wednesday, reaching $253.65. The stock had a trading volume of 2,220,085 shares, compared to its average volume of 2,058,443. Zscaler, Inc. has a twelve month low of $153.45 and a twelve month high of $259.40. The firm has a market capitalization of $39.25 billion, a PE ratio of -1,014.60 and a beta of 1.14. The firm has a 50-day moving average of $217.66 and a 200 day moving average of $205.21.

Insiders Place Their Bets

In other Zscaler news, insider Syam Nair sold 28,947 shares of Zscaler stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $250.00, for a total transaction of $7,236,750.00. Following the completion of the transaction, the insider now owns 110,566 shares in the company, valued at approximately $27,641,500. The trade was a 20.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Robert Schlossman sold 3,590 shares of Zscaler stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $250.00, for a total value of $897,500.00. Following the transaction, the insider now owns 100,230 shares of the company's stock, valued at $25,057,500. This represents a 3.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 241,771 shares of company stock worth $50,165,040. 18.10% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research firms have issued reports on ZS. Robert W. Baird raised their target price on Zscaler from $240.00 to $250.00 and gave the stock an "outperform" rating in a research note on Thursday, March 6th. Jefferies Financial Group reduced 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. Wedbush upped their target price 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. Cantor Fitzgerald lifted their price target on shares of Zscaler from $250.00 to $275.00 and gave the company an "overweight" rating in a research report on Tuesday. 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 equities research analysts have rated the stock with a hold rating and twenty-six have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $240.09.

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.