Warm Springs Advisors Inc. Acquires New Stake in Zscaler, Inc. (NASDAQ:ZS)

Warm Springs Advisors Inc. purchased a new stake in shares of Zscaler, Inc. (NASDAQ:ZS - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 7,936 shares of the company's stock, valued at approximately $1,432,000. Zscaler makes up approximately 1.3% of Warm Springs Advisors Inc.'s investment portfolio, making the stock its 28th biggest position.

Several other institutional investors also recently modified their holdings of the business. Global X Japan Co. Ltd. lifted its holdings 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 buying an additional 79 shares during the period. Summit Securities Group LLC purchased a new stake in Zscaler during the fourth quarter valued at $27,000. Colonial Trust Co SC bought a new position in Zscaler in the fourth quarter valued at about $28,000. Stonebridge Financial Group LLC purchased a new position in Zscaler in the fourth quarter worth about $29,000. Finally, Elequin Capital LP bought a new stake in shares of Zscaler during the 4th quarter valued at about $30,000. 46.45% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider Syam Nair sold 28,947 shares of the firm's stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $250.00, for a total value of $7,236,750.00. Following the completion of the sale, the insider now owns 110,566 shares in the company, valued at approximately $27,641,500. This trade represents a 20.75% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jagtar Singh Chaudhry sold 2,155 shares of the company's stock in a transaction dated 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. The trade was a 0.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 241,771 shares of company stock valued at $50,165,040 in the last three months. Corporate insiders own 18.10% of the company's stock.

Analysts Set New Price Targets

ZS has been the topic of several recent research reports. Wedbush increased their price objective on shares of Zscaler from $230.00 to $240.00 and gave the stock an "outperform" rating in a research note on Thursday, March 6th. BMO Capital Markets upped their target price on shares of Zscaler from $222.00 to $233.00 and gave the company an "outperform" rating in a report on Thursday, March 6th. Bank of America upgraded shares of Zscaler from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $215.00 to $240.00 in a research note on Friday, March 7th. Mizuho boosted their price objective on shares of Zscaler from $220.00 to $250.00 and gave the company a "neutral" rating in a research report on Thursday, May 15th. Finally, Scotiabank reaffirmed a "sector outperform" rating and issued a $242.00 target price (up from $225.00) on shares of Zscaler in a report on Wednesday, March 5th. Eight analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $240.09.

Zscaler Stock Down 0.4%

NASDAQ ZS traded down $1.13 during trading on Thursday, hitting $252.52. 1,540,004 shares of the stock traded hands, compared to its average volume of 2,047,845. The company has a market capitalization of $39.07 billion, a P/E ratio of -1,008.64 and a beta of 1.14. Zscaler, Inc. has a 12-month low of $153.45 and a 12-month high of $259.40. The firm has a 50-day simple moving average of $218.63 and a 200-day simple moving average of $205.55.

About Zscaler

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.