Occudo Quantitative Strategies LP Invests $666,000 in Zscaler, Inc. (NASDAQ:ZS)

Occudo Quantitative Strategies LP purchased a new stake in Zscaler, Inc. (NASDAQ:ZS - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 3,693 shares of the company's stock, valued at approximately $666,000.

A number of other hedge funds also recently made changes to their positions in the business. Corebridge Financial Inc. lifted its holdings in shares of Zscaler by 0.5% during the fourth quarter. Corebridge Financial Inc. now owns 11,695 shares of the company's stock valued at $2,110,000 after acquiring an additional 54 shares during the period. Erste Asset Management GmbH grew its stake in Zscaler by 0.6% during the fourth quarter. Erste Asset Management GmbH now owns 9,780 shares of the company's stock worth $1,805,000 after buying an additional 56 shares during the last quarter. KRS Capital Management LLC increased its holdings in shares of Zscaler by 1.9% during the fourth quarter. KRS Capital Management LLC now owns 3,261 shares of the company's stock worth $588,000 after buying an additional 60 shares in the last quarter. Ironwood Investment Management LLC raised its stake in shares of Zscaler by 1.0% in the fourth quarter. Ironwood Investment Management LLC now owns 6,249 shares of the company's stock valued at $1,127,000 after acquiring an additional 64 shares during the last quarter. Finally, Smartleaf Asset Management LLC boosted its holdings in shares of Zscaler by 16.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 482 shares of the company's stock worth $88,000 after acquiring an additional 69 shares in the last quarter. Institutional investors and hedge funds own 46.45% of the company's stock.

Zscaler Price Performance

Shares of ZS traded up $5.58 during midday trading on Friday, hitting $251.50. The stock had a trading volume of 3,079,508 shares, compared to its average volume of 2,044,845. The firm has a market cap of $38.91 billion, a price-to-earnings ratio of -1,006.00 and a beta of 1.14. The company has a 50 day simple moving average of $210.17 and a two-hundred day simple moving average of $202.08. Zscaler, Inc. has a twelve month low of $153.45 and a twelve month high of $253.59.

Insiders Place Their Bets

In other Zscaler 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 value of $38,227,431.20. Following the sale, the insider now owns 2,580,210 shares in the company, valued at $517,822,344.90. This represents a 6.87% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 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 transaction, the director now directly owns 27,216 shares in the company, valued at $5,606,496. The trade was a 26.87% decrease in their ownership of the stock. 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. 18.10% of the stock is currently owned by insiders.

Analysts Set New Price Targets

ZS has been the subject of several research analyst reports. Scotiabank reiterated a "sector outperform" rating and issued a $242.00 price objective (up previously from $225.00) on shares of Zscaler in a research report on Wednesday, March 5th. Sanford C. Bernstein reiterated an "outperform" rating and set a $244.00 price target on shares of Zscaler in a research report on Thursday, March 6th. Wedbush raised their price objective on shares of Zscaler from $230.00 to $240.00 and gave the company an "outperform" rating in a research report on Thursday, March 6th. Roth Capital started coverage on shares of Zscaler in a research report on Wednesday, April 23rd. They set a "neutral" rating and a $215.00 target price on the stock. Finally, Morgan Stanley decreased their price target on shares of Zscaler from $205.00 to $200.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 16th. Eight investment 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 company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $238.53.

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.