Vise Technologies Inc. Invests $364,000 in Zscaler, Inc. (NASDAQ:ZS)

Vise Technologies Inc. acquired a new position in Zscaler, Inc. (NASDAQ:ZS - Free Report) during the fourth quarter, according to the company in its most recent filing with the SEC. The fund acquired 2,015 shares of the company's stock, valued at approximately $364,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Global X Japan Co. Ltd. raised its stake in 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 buying an additional 79 shares in the last quarter. Summit Securities Group LLC acquired a new position in shares of Zscaler in the 4th quarter worth approximately $27,000. Colonial Trust Co SC bought 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 valued at approximately $29,000. Finally, Elequin Capital LP bought a new position in Zscaler during the fourth quarter worth $30,000. 46.45% of the stock is owned by hedge funds and other institutional investors.

Zscaler Stock Down 1.4%

Shares of Zscaler stock traded down $3.65 during midday trading on Wednesday, hitting $253.65. The company's stock had a trading volume of 2,220,409 shares, compared to its average volume of 2,049,629. Zscaler, Inc. has a 1-year low of $153.45 and a 1-year high of $259.40. The firm has a market capitalization of $39.25 billion, a P/E ratio of -1,014.60 and a beta of 1.14. The stock 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 related news, insider Syam Nair sold 28,947 shares of the 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 $7,236,750.00. Following the transaction, the insider now owns 110,566 shares in the company, valued at approximately $27,641,500. This represents a 20.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Jagtar Singh Chaudhry sold 2,155 shares of the firm's stock in a transaction on 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 owns 356,414 shares in the company, valued at $70,979,848.10. This represents a 0.60% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 241,771 shares of company stock valued at $50,165,040. Company insiders own 18.10% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on ZS. Citigroup reiterated a "buy" rating and set a $240.00 price objective (up previously from $235.00) on shares of Zscaler in a research note on Wednesday, March 5th. Wedbush increased their price objective on shares of Zscaler from $230.00 to $240.00 and gave the stock an "outperform" rating in a report on Thursday, March 6th. Jefferies Financial Group decreased their target price on shares of Zscaler from $245.00 to $240.00 and set a "buy" rating for the company in a research report on Monday, March 31st. Bank of America raised Zscaler from a "neutral" rating to a "buy" rating and lifted their price target for the company from $215.00 to $240.00 in a report on Friday, March 7th. Finally, Stifel Nicolaus increased their price objective on Zscaler from $235.00 to $270.00 and gave the stock a "buy" rating in a report on Friday, May 16th. Eight analysts have rated the stock with a hold rating and twenty-six have issued a buy rating to the company's stock. According to MarketBeat.com, the company 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.