Insight Holdings Group LLC Has $2.26 Million Stake in Zscaler, Inc. (NASDAQ:ZS)

Insight Holdings Group LLC boosted its holdings in Zscaler, Inc. (NASDAQ:ZS - Free Report) by 25.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,500 shares of the company's stock after purchasing an additional 2,500 shares during the quarter. Zscaler makes up about 0.1% of Insight Holdings Group LLC's investment portfolio, making the stock its 26th largest holding. Insight Holdings Group LLC's holdings in Zscaler were worth $2,255,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in ZS. Global X Japan Co. Ltd. increased its holdings in shares of Zscaler by 127.4% in the 4th quarter. Global X Japan Co. Ltd. now owns 141 shares of the company's stock worth $25,000 after acquiring an additional 79 shares during the period. Summit Securities Group LLC bought a new position in Zscaler in the 4th quarter worth about $27,000. Stonebridge Financial Group LLC bought a new position in Zscaler in the 4th quarter worth about $29,000. Versant Capital Management Inc raised its holdings in shares of Zscaler by 136.8% during the fourth quarter. Versant Capital Management Inc now owns 180 shares of the company's stock valued at $32,000 after buying an additional 104 shares during the last quarter. Finally, Modus Advisors LLC acquired a new position in shares of Zscaler during the fourth quarter worth approximately $36,000. Institutional investors own 46.45% of the company's stock.

Zscaler Price Performance

ZS traded up $2.32 on Wednesday, hitting $226.17. The company had a trading volume of 2,242,657 shares, compared to its average volume of 2,003,204. The company's fifty day moving average price is $200.30 and its 200 day moving average price is $197.92. The stock has a market cap of $34.99 billion, a price-to-earnings ratio of -904.68 and a beta of 1.12. Zscaler, Inc. has a 1-year low of $153.45 and a 1-year high of $227.88.

Analyst Upgrades and Downgrades

ZS has been the topic of a number of recent analyst reports. Rosenblatt Securities restated a "buy" rating and set a $235.00 price target on shares of Zscaler in a research report on Tuesday, April 15th. Cantor Fitzgerald upgraded Zscaler from a "neutral" rating to an "overweight" rating and upped their target price for the stock from $220.00 to $250.00 in a research report on Thursday, April 3rd. Morgan Stanley lowered their price target on Zscaler from $205.00 to $200.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 16th. Wedbush raised their target price on Zscaler from $230.00 to $240.00 and gave the company an "outperform" rating in a research note on Thursday, March 6th. Finally, UBS Group boosted their price target on shares of Zscaler from $250.00 to $260.00 and gave the stock a "buy" rating in a research report on Thursday, March 6th. Eight research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Zscaler has a consensus rating of "Moderate Buy" and an average price target of $236.66.

Insiders Place Their Bets

In other news, major shareholder Ajay Mangal sold 190,480 shares of the business's stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $200.69, for a total transaction of $38,227,431.20. Following the transaction, the insider now owns 2,580,210 shares in the company, valued at approximately $517,822,344.90. The trade was a 6.87 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Andrew William Fraser Brown sold 10,000 shares of the stock in a transaction dated 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 completion of the sale, the director now owns 27,216 shares of the company's stock, valued at approximately $5,606,496. The trade was a 26.87 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 209,234 shares of company stock valued at $42,030,790 in the last quarter. Insiders own 18.10% of the company's stock.

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.