CloudAlpha Capital Management Limited Hong Kong Invests $6.65 Million in Zscaler, Inc. (NASDAQ:ZS)

CloudAlpha Capital Management Limited Hong Kong acquired a new position in shares of Zscaler, Inc. (NASDAQ:ZS - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 30,000 shares of the company's stock, valued at approximately $6,647,000. Zscaler comprises 0.6% of CloudAlpha Capital Management Limited Hong Kong's portfolio, making the stock its 23rd largest holding.

Other hedge funds have also recently bought and sold shares of the company. Renaissance Technologies LLC bought a new position in Zscaler in the first quarter valued at approximately $168,365,000. Norges Bank bought a new stake in shares of Zscaler during the fourth quarter worth $59,634,000. Polar Capital Holdings Plc bought a new stake in shares of Zscaler during the third quarter worth $61,681,000. Whale Rock Capital Management LLC grew its stake in shares of Zscaler by 71.4% during the second quarter. Whale Rock Capital Management LLC now owns 776,972 shares of the company's stock worth $113,671,000 after buying an additional 323,719 shares during the last quarter. Finally, International Assets Investment Management LLC grew its stake in shares of Zscaler by 19,012.4% in the fourth quarter. International Assets Investment Management LLC now owns 223,997 shares of the company's stock worth $49,629,000 after purchasing an additional 222,825 shares during the last quarter. 46.45% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. The Goldman Sachs Group boosted their price objective on shares of Zscaler from $189.00 to $215.00 and gave the stock a "neutral" rating in a research note on Monday, March 4th. Robert W. Baird upped their price target on shares of Zscaler from $255.00 to $265.00 and gave the company an "outperform" rating in a research report on Friday, March 1st. Truist Financial reaffirmed a "buy" rating and set a $260.00 price target on shares of Zscaler in a research report on Monday, April 1st. JMP Securities reaffirmed a "market outperform" rating and set a $270.00 price target on shares of Zscaler in a research report on Friday, March 1st. Finally, Citigroup upped their price target on shares of Zscaler from $235.00 to $265.00 and gave the company a "buy" rating in a research report on Wednesday, January 10th. Six research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, Zscaler currently has an average rating of "Moderate Buy" and an average price target of $230.55.

Insider Transactions at Zscaler

In related news, CEO Jagtar Singh Chaudhry sold 2,115 shares of the firm's stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $193.15, for a total value of $408,512.25. Following the completion of the transaction, the chief executive officer now directly owns 367,152 shares of the company's stock, valued at approximately $70,915,408.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Zscaler news, Director Karen Blasing sold 7,000 shares of the firm's stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $250.90, for a total value of $1,756,300.00. Following the completion of the transaction, the director now directly owns 40,372 shares of the company's stock, valued at approximately $10,129,334.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Jagtar Singh Chaudhry sold 2,115 shares of the firm's stock in a transaction on Monday, March 18th. The shares were sold at an average price of $193.15, for a total transaction of $408,512.25. Following the completion of the transaction, the chief executive officer now directly owns 367,152 shares of the company's stock, valued at $70,915,408.80. The disclosure for this sale can be found here. Insiders sold a total of 26,715 shares of company stock worth $5,865,882 in the last quarter. Insiders own 19.20% of the company's stock.

Zscaler Stock Down 0.8 %

NASDAQ:ZS traded down $1.36 on Wednesday, hitting $172.96. The stock had a trading volume of 1,297,538 shares, compared to its average volume of 2,278,160. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.98 and a current ratio of 1.98. The stock has a market cap of $25.92 billion, a P/E ratio of -182.06 and a beta of 0.80. Zscaler, Inc. has a 1 year low of $84.93 and a 1 year high of $259.61. The firm's fifty day simple moving average is $209.32 and its two-hundred day simple moving average is $202.81.

Zscaler (NASDAQ:ZS - Get Free Report) last posted its quarterly earnings data on Thursday, February 29th. The company reported ($0.16) EPS for the quarter, beating the consensus estimate of ($0.24) by $0.08. Zscaler had a negative net margin of 7.32% and a negative return on equity of 14.60%. The firm had revenue of $525.00 million during the quarter, compared to analyst estimates of $507.56 million. Analysts predict that Zscaler, Inc. will post -0.81 earnings per share for the current year.

Zscaler Company 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.