Greenvale Capital LLP Takes $72.16 Million Position in Zscaler, Inc. (NASDAQ:ZS)

Greenvale Capital LLP purchased a new position in Zscaler, Inc. (NASDAQ:ZS - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 400,000 shares of the company's stock, valued at approximately $72,164,000. Zscaler accounts for about 5.3% of Greenvale Capital LLP's portfolio, making the stock its 9th biggest position. Greenvale Capital LLP owned about 0.26% of Zscaler as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also added to or reduced their stakes in the stock. Focus Partners Wealth increased its stake in shares of Zscaler by 15.2% in the 4th quarter. Focus Partners Wealth now owns 60,566 shares of the company's stock worth $11,037,000 after acquiring an additional 8,002 shares in the last quarter. Ethic Inc. increased its stake in shares of Zscaler by 5.3% during the fourth quarter. Ethic Inc. now owns 4,141 shares of the company's stock valued at $747,000 after purchasing an additional 207 shares in the last quarter. Frontier Capital Management Co. LLC boosted its position in shares of Zscaler by 12,029.1% in the 4th quarter. Frontier Capital Management Co. LLC now owns 232,636 shares of the company's stock worth $41,970,000 after purchasing an additional 230,718 shares in the last quarter. Colonial Trust Co SC purchased a new stake in shares of Zscaler in the 4th quarter worth approximately $28,000. Finally, Brevan Howard Capital Management LP purchased a new stake in shares of Zscaler in the 4th quarter worth approximately $2,397,000. Institutional investors own 46.45% of the company's stock.

Analysts Set New Price Targets

Several research firms have commented on ZS. Rosenblatt Securities reissued a "buy" rating and issued a $235.00 target price on shares of Zscaler in a report on Tuesday, April 15th. Robert W. Baird upped their price target on shares of Zscaler from $240.00 to $250.00 and gave the stock an "outperform" rating in a research note on Thursday, March 6th. Roth Capital started coverage on shares of Zscaler in a report on Wednesday, April 23rd. They issued a "neutral" rating and a $215.00 target price for the company. Wedbush increased their price target on shares of Zscaler from $230.00 to $240.00 and gave the company an "outperform" rating in a report on Thursday, March 6th. Finally, Stephens assumed coverage on shares of Zscaler in a report on Tuesday, April 1st. They issued an "overweight" rating and a $255.00 price objective for the company. Eight investment analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $236.66.

Insider Buying and Selling

In other news, major shareholder Ajay Mangal sold 190,480 shares of the company's stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $200.69, for a total transaction of $38,227,431.20. Following the sale, the insider now directly owns 2,580,210 shares of the company's stock, valued at $517,822,344.90. This represents a 6.87 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Andrew William Fraser Brown sold 10,000 shares of the stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $206.00, for a total transaction of $2,060,000.00. Following the transaction, the director now owns 27,216 shares of the company's stock, valued at $5,606,496. This trade represents a 26.87 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 209,234 shares of company stock valued at $42,030,790. Corporate insiders own 18.10% of the company's stock.

Zscaler Stock Performance

Shares of Zscaler stock opened at $233.06 on Friday. The company has a market capitalization of $36.06 billion, a P/E ratio of -932.24 and a beta of 1.14. The company has a fifty day moving average of $205.63 and a 200 day moving average of $199.90. Zscaler, Inc. has a fifty-two week low of $153.45 and a fifty-two week high of $235.67.

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.

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