Graham Capital Management L.P. increased its position in shares of Zscaler, Inc. (NASDAQ:ZS - Free Report) by 371.9% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,023 shares of the company's stock after buying an additional 6,323 shares during the period. Graham Capital Management L.P.'s holdings in Zscaler were worth $1,447,000 at the end of the most recent reporting period.
Other hedge funds have also bought and sold shares of the company. Global X Japan Co. Ltd. raised its stake in Zscaler by 127.4% during the fourth quarter. Global X Japan Co. Ltd. now owns 141 shares of the company's stock worth $25,000 after buying an additional 79 shares during the last quarter. Summit Securities Group LLC acquired a new stake in Zscaler in the fourth quarter worth $27,000. Colonial Trust Co SC acquired a new stake in Zscaler in the fourth quarter worth $28,000. Stonebridge Financial Group LLC acquired a new stake in Zscaler in the fourth quarter worth $29,000. Finally, Crews Bank & Trust acquired a new stake in Zscaler in the fourth quarter worth $36,000. Institutional investors own 46.45% of the company's stock.
Wall Street Analysts Forecast Growth
A number of research analysts have recently issued reports on ZS shares. Morgan Stanley reduced their price objective on shares of Zscaler from $205.00 to $200.00 and set an "equal weight" rating for the company in a report on Wednesday, April 16th. Rosenblatt Securities restated a "buy" rating and set a $235.00 price target on shares of Zscaler in a report on Tuesday, April 15th. Citigroup restated a "buy" rating and set a $240.00 price target (up from $235.00) on shares of Zscaler in a report on Wednesday, March 5th. Wedbush boosted their target price on shares of Zscaler from $230.00 to $240.00 and gave the company an "outperform" rating in a research note on Thursday, March 6th. Finally, Wells Fargo & Company boosted their target price on shares of Zscaler from $190.00 to $210.00 and gave the company an "equal weight" rating in a research note on Thursday, March 6th. Eight analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Zscaler presently has an average rating of "Moderate Buy" and a consensus target price of $238.53.
Get Our Latest Stock Report on Zscaler
Zscaler Trading Up 2.3%
NASDAQ ZS traded up $5.58 during trading on Friday, hitting $251.50. The company had a trading volume of 3,079,508 shares, compared to its average volume of 2,041,309. Zscaler, Inc. has a one year low of $153.45 and a one year high of $253.52. The company 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's fifty day moving average is $209.13 and its 200-day moving average is $201.55.
Insiders Place Their Bets
In related news, CEO Jagtar Singh Chaudhry sold 2,155 shares of the stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $199.15, for a total value of $429,168.25. Following the completion of the transaction, the chief executive officer now directly owns 356,414 shares in the company, valued at $70,979,848.10. This trade represents a 0.60% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Robert Schlossman sold 2,878 shares of the firm'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 $573,153.70. Following the sale, the insider now owns 107,587 shares of the company's stock, valued at approximately $21,425,951.05. This represents a 2.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 209,234 shares of company stock worth $42,030,790. 18.10% of the stock is currently owned by corporate insiders.
About Zscaler
(
Free Report)
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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