6,837 Shares in Zscaler, Inc. (NASDAQ:ZS) Acquired by BluePointe Capital Management LLC

BluePointe Capital Management LLC acquired a new stake in shares of Zscaler, Inc. (NASDAQ:ZS) in the fourth quarter, HoldingsChannel.com reports. The fund acquired 6,837 shares of the company’s stock, valued at approximately $1,233,000.

A number of other institutional investors have also added to or reduced their stakes in ZS. Geode Capital Management LLC boosted its stake in Zscaler by 3.9% during the third quarter. Geode Capital Management LLC now owns 1,625,861 shares of the company’s stock valued at $277,327,000 after buying an additional 60,414 shares during the last quarter. Champlain Investment Partners LLC raised its holdings in shares of Zscaler by 28.2% during the 3rd quarter. Champlain Investment Partners LLC now owns 1,289,350 shares of the company’s stock worth $220,401,000 after acquiring an additional 283,540 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of Zscaler by 3.2% during the 4th quarter. Bank of New York Mellon Corp now owns 539,113 shares of the company’s stock valued at $97,261,000 after acquiring an additional 16,742 shares during the last quarter. Westfield Capital Management Co. LP grew its holdings in shares of Zscaler by 33.8% in the third quarter. Westfield Capital Management Co. LP now owns 399,516 shares of the company’s stock valued at $68,293,000 after purchasing an additional 100,814 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. increased its position in Zscaler by 11.0% in the third quarter. Nomura Asset Management Co. Ltd. now owns 380,463 shares of the company’s stock worth $65,036,000 after purchasing an additional 37,801 shares during the last quarter. 46.45% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Citigroup reissued a “buy” rating and issued a $240.00 price objective (up from $235.00) on shares of Zscaler in a research note on Wednesday, March 5th. Wells Fargo & Company lifted their price target on Zscaler from $190.00 to $210.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 6th. Wedbush upped their price objective on Zscaler from $230.00 to $240.00 and gave the company an “outperform” rating in a research report on Thursday, March 6th. Guggenheim reissued a “neutral” rating on shares of Zscaler in a research report on Tuesday, December 3rd. Finally, UBS Group increased their price target on Zscaler from $250.00 to $260.00 and gave the company a “buy” rating in a report on Thursday, March 6th. Nine investment analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $232.68.

Zscaler Stock Performance

NASDAQ ZS opened at $203.95 on Thursday. The company has a market cap of $31.56 billion, a PE ratio of -815.80 and a beta of 0.88. Zscaler, Inc. has a 52-week low of $153.45 and a 52-week high of $217.84. The firm’s 50 day moving average price is $199.11 and its 200-day moving average price is $191.72.

Insider Buying and Selling at Zscaler

In related news, major shareholder Ajay Mangal sold 190,480 shares of the business’s stock in a transaction that occurred on 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 completion of the transaction, the insider now owns 2,580,210 shares in the company, valued at $517,822,344.90. The trade was a 6.87 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 18.10% of the company’s stock.

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.