2,466 Shares in Zscaler, Inc. (NASDAQ:ZS) Bought by Cache Advisors LLC

Cache Advisors LLC acquired a new stake in Zscaler, Inc. (NASDAQ:ZS - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,466 shares of the company's stock, valued at approximately $445,000.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Corebridge Financial Inc. boosted its holdings in Zscaler by 0.5% in the fourth quarter. Corebridge Financial Inc. now owns 11,695 shares of the company's stock valued at $2,110,000 after purchasing an additional 54 shares during the last quarter. Erste Asset Management GmbH boosted its holdings in Zscaler by 0.6% in the fourth quarter. Erste Asset Management GmbH now owns 9,780 shares of the company's stock valued at $1,805,000 after purchasing an additional 56 shares during the last quarter. Ironwood Investment Management LLC boosted its holdings in Zscaler by 1.0% in the fourth quarter. Ironwood Investment Management LLC now owns 6,249 shares of the company's stock valued at $1,127,000 after purchasing an additional 64 shares during the last quarter. Smartleaf Asset Management LLC boosted its holdings in Zscaler by 16.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 482 shares of the company's stock valued at $88,000 after purchasing an additional 69 shares during the last quarter. Finally, Avior Wealth Management LLC increased its position in shares of Zscaler by 50.7% in the 4th quarter. Avior Wealth Management LLC now owns 214 shares of the company's stock worth $39,000 after purchasing an additional 72 shares during the last quarter. 46.45% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CEO Jagtar Singh Chaudhry sold 2,155 shares of Zscaler stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $199.15, for a total value of $429,168.25. Following the transaction, the chief executive officer now directly owns 356,414 shares of the company's stock, valued at $70,979,848.10. This trade represents a 0.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 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 transaction, 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. Insiders sold 241,771 shares of company stock worth $50,165,040 over the last three months. Insiders own 18.10% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently commented on ZS. Needham & Company LLC restated a "buy" rating and set a $240.00 price objective on shares of Zscaler in a research note on Wednesday, March 5th. Citigroup reaffirmed a "buy" rating and issued a $240.00 price objective (up previously from $235.00) on shares of Zscaler in a report on Wednesday, March 5th. Sanford C. Bernstein reissued an "outperform" rating and set a $244.00 target price on shares of Zscaler in a research note on Thursday, March 6th. Scotiabank reissued a "sector outperform" rating and set a $242.00 target price (up from $225.00) on shares of Zscaler in a research note on Wednesday, March 5th. Finally, The Goldman Sachs Group set a $207.00 target price on shares of Zscaler and gave the company a "neutral" rating in a research note 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's stock. According to MarketBeat.com, Zscaler has an average rating of "Moderate Buy" and a consensus target price of $240.09.

Zscaler Trading Up 1.3%

Shares of NASDAQ ZS traded up $3.20 during mid-day trading on Tuesday, hitting $257.30. The company had a trading volume of 1,758,580 shares, compared to its average volume of 2,057,796. The company has a market capitalization of $39.81 billion, a PE ratio of -1,029.20 and a beta of 1.14. The firm has a 50-day simple moving average of $216.59 and a two-hundred day simple moving average of $204.85. Zscaler, Inc. has a one year low of $153.45 and a one year high of $260.01.

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.