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

BluePointe Capital Management LLC bought a new stake in shares of Zscaler, Inc. (NASDAQ:ZS) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 6,837 shares of the company’s stock, valued at approximately $1,233,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Fred Alger Management LLC increased its position in shares of Zscaler by 1,151.0% during the 3rd quarter. Fred Alger Management LLC now owns 10,371 shares of the company’s stock valued at $1,773,000 after purchasing an additional 9,542 shares during the last quarter. Nomura Asset Management Co. Ltd. grew its position in Zscaler by 11.0% during the third quarter. Nomura Asset Management Co. Ltd. now owns 380,463 shares of the company’s stock valued at $65,036,000 after acquiring an additional 37,801 shares during the last quarter. Zweig DiMenna Associates LLC raised its stake in shares of Zscaler by 29.8% during the fourth quarter. Zweig DiMenna Associates LLC now owns 77,941 shares of the company’s stock worth $14,061,000 after acquiring an additional 17,900 shares in the last quarter. Baader Bank Aktiengesellschaft lifted its holdings in shares of Zscaler by 30.3% in the 4th quarter. Baader Bank Aktiengesellschaft now owns 8,400 shares of the company’s stock worth $1,515,000 after acquiring an additional 1,952 shares during the last quarter. Finally, Benjamin Edwards Inc. purchased a new stake in shares of Zscaler in the 3rd quarter valued at $449,000. Hedge funds and other institutional investors own 46.45% of the company’s stock.

Zscaler Price Performance

Shares of ZS opened at $203.95 on Thursday. The firm has a market capitalization of $31.56 billion, a P/E ratio of -815.80 and a beta of 0.88. Zscaler, Inc. has a one year low of $153.45 and a one year high of $217.84. The business has a fifty day moving average of $199.11 and a 200 day moving average of $191.72.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on ZS shares. Sanford C. Bernstein reissued an “outperform” rating and issued a $244.00 price target on shares of Zscaler in a research note on Thursday, March 6th. Robert W. Baird boosted their target price on Zscaler from $240.00 to $250.00 and gave the company an “outperform” rating in a research note on Thursday, March 6th. BTIG Research set a $252.00 price target on Zscaler and gave the stock a “buy” rating in a research report on Thursday, March 6th. Canaccord Genuity Group increased their price objective on Zscaler from $220.00 to $230.00 and gave the company a “buy” rating in a research note on Tuesday, December 3rd. Finally, Loop Capital cut their target price on shares of Zscaler from $200.00 to $195.00 and set a “hold” rating on the stock in a report on Tuesday, December 3rd. Nine analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $232.68.

Insider Buying and Selling

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 stock was 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 directly owns 2,580,210 shares in the company, valued at approximately $517,822,344.90. The trade was a 6.87 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 18.10% of the stock is currently owned by insiders.

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.