Cache Advisors LLC Invests $445,000 in Zscaler, Inc. (NASDAQ:ZS)

Cache Advisors LLC acquired a new stake in Zscaler, Inc. (NASDAQ:ZS - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 2,466 shares of the company's stock, valued at approximately $445,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Global X Japan Co. Ltd. raised its holdings in shares of Zscaler by 127.4% during the fourth 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 in the last quarter. Summit Securities Group LLC bought a new position in shares of Zscaler during the fourth quarter valued at approximately $27,000. Colonial Trust Co SC bought a new position in shares of Zscaler during the fourth quarter valued at approximately $28,000. Stonebridge Financial Group LLC bought a new position in shares of Zscaler during the fourth quarter valued at approximately $29,000. Finally, Elequin Capital LP bought a new position in shares of Zscaler during the fourth quarter valued at approximately $30,000. Institutional investors own 46.45% of the company's stock.

Zscaler Price Performance

Shares of Zscaler stock traded down $1.23 during trading on Thursday, hitting $252.42. 1,390,706 shares of the company's stock traded hands, compared to its average volume of 2,047,516. Zscaler, Inc. has a 1 year low of $153.45 and a 1 year high of $259.40. The stock has a market capitalization of $39.06 billion, a P/E ratio of -1,011.66 and a beta of 1.14. The business has a 50-day simple moving average of $218.63 and a 200-day simple moving average of $205.55.

Insider Activity at Zscaler

In other Zscaler news, insider Robert Schlossman sold 2,878 shares of the stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $199.15, for a total value of $573,153.70. Following the transaction, the insider now owns 107,587 shares of the company's stock, valued at approximately $21,425,951.05. This represents a 2.61% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Ajay Mangal sold 190,480 shares of the firm's stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $200.69, for a total value of $38,227,431.20. Following the completion of the transaction, the insider now directly owns 2,580,210 shares in the company, valued at $517,822,344.90. This trade represents a 6.87% 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 over the last ninety days. Insiders own 18.10% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on ZS. Bank of America upgraded Zscaler from a "neutral" rating to a "buy" rating and increased their price objective for the stock from $215.00 to $240.00 in a report on Friday, March 7th. Wedbush increased their price objective on Zscaler from $230.00 to $240.00 and gave the stock an "outperform" rating in a report on Thursday, March 6th. Rosenblatt Securities reiterated a "buy" rating and issued a $235.00 price objective on shares of Zscaler in a report on Tuesday, April 15th. Needham & Company LLC reiterated a "buy" rating and issued a $240.00 price objective on shares of Zscaler in a report on Wednesday, March 5th. Finally, Robert W. Baird increased their price objective on Zscaler from $240.00 to $250.00 and gave the stock an "outperform" rating in a report on Thursday, March 6th. Eight investment analysts have rated the stock with a hold rating and twenty-six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price 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.