AlphaQuest LLC Acquires New Stake in Zscaler, Inc. (NASDAQ:ZS)

AlphaQuest LLC acquired a new stake in Zscaler, Inc. (NASDAQ:ZS) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 2,618 shares of the company’s stock, valued at approximately $472,000.

Other institutional investors have also bought and sold shares of the company. Global X Japan Co. Ltd. raised its holdings in Zscaler by 127.4% during the 4th quarter. Global X Japan Co. Ltd. now owns 141 shares of the company’s stock valued at $25,000 after acquiring an additional 79 shares during the period. Stonebridge Financial Group LLC bought a new stake in Zscaler during the 4th quarter valued at $29,000. Prestige Wealth Management Group LLC bought a new stake in Zscaler during the 3rd quarter valued at $31,000. True Wealth Design LLC raised its holdings in Zscaler by 18,500.0% during the 3rd quarter. True Wealth Design LLC now owns 186 shares of the company’s stock valued at $32,000 after acquiring an additional 185 shares during the period. Finally, Versant Capital Management Inc raised its holdings in Zscaler by 136.8% during the 4th quarter. Versant Capital Management Inc now owns 180 shares of the company’s stock valued at $32,000 after acquiring an additional 104 shares during the period. Hedge funds and other institutional investors own 46.45% of the company’s stock.

Insider Activity

In other news, insider Syam Nair sold 3,682 shares of the stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $200.32, for a total value of $737,578.24. Following the transaction, the insider now owns 142,866 shares in the company, valued at $28,618,917.12. This represents a 2.51 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Jagtar Singh Chaudhry sold 2,863 shares of the stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $200.32, for a total transaction of $573,516.16. Following the completion of the transaction, the chief executive officer now owns 358,569 shares in the company, valued at $71,828,542.08. This trade represents a 0.79 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 10,248 shares of company stock valued at $2,052,879 in the last 90 days. 18.10% of the stock is currently owned by insiders.

Zscaler Stock Down 0.8 %

Shares of NASDAQ ZS opened at $197.79 on Thursday. The firm’s 50-day moving average price is $197.74 and its 200-day moving average price is $191.66. The company has a market cap of $30.35 billion, a PE ratio of -791.16 and a beta of 0.88. Zscaler, Inc. has a 52-week low of $153.45 and a 52-week high of $217.84.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on ZS. Stifel Nicolaus upped their price target on shares of Zscaler from $220.00 to $235.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Wedbush upped their price target on shares of Zscaler from $230.00 to $240.00 and gave the stock an “outperform” rating in a report on Thursday, March 6th. Jefferies Financial Group upped their price target on shares of Zscaler from $225.00 to $245.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Rosenblatt Securities raised shares of Zscaler from a “neutral” rating to a “buy” rating and upped their price target for the stock from $190.00 to $235.00 in a report on Thursday, March 6th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on shares of Zscaler from $200.00 to $225.00 and gave the stock a “buy” rating in a report on Tuesday, December 3rd. Nine equities research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $233.88.

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.