Blueshift Asset Management LLC Invests $599,000 in Zscaler, Inc. (NASDAQ:ZS)

Blueshift Asset Management LLC purchased a new stake in Zscaler, Inc. (NASDAQ:ZS) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,319 shares of the company’s stock, valued at approximately $599,000.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Fred Alger Management LLC raised its holdings in shares of Zscaler by 1,151.0% during the third quarter. Fred Alger Management LLC now owns 10,371 shares of the company’s stock worth $1,773,000 after purchasing an additional 9,542 shares during the period. Nomura Asset Management Co. Ltd. raised its holdings in shares of Zscaler by 11.0% during 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 period. Zweig DiMenna Associates LLC raised its holdings 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 purchasing an additional 17,900 shares during the period. Baader Bank Aktiengesellschaft raised its holdings in shares of Zscaler by 30.3% during the fourth quarter. Baader Bank Aktiengesellschaft now owns 8,400 shares of the company’s stock worth $1,515,000 after purchasing an additional 1,952 shares during the period. Finally, Benjamin Edwards Inc. bought a new position in shares of Zscaler during the third quarter worth about $449,000. 46.45% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Zscaler news, CEO Jagtar Singh Chaudhry sold 2,155 shares of the stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $199.15, for a total transaction of $429,168.25. Following the transaction, the chief executive officer now owns 356,414 shares in the company, valued at $70,979,848.10. This trade represents a 0.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder Ajay Mangal sold 190,480 shares of the stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $200.69, for a total value of $38,227,431.20. Following the transaction, the insider now owns 2,580,210 shares in the company, valued at approximately $517,822,344.90. This trade represents a 6.87 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 199,234 shares of company stock worth $39,970,790. Insiders own 18.10% of the company’s stock.

Zscaler Stock Performance

NASDAQ:ZS opened at $203.55 on Friday. The stock’s 50 day moving average price is $199.43 and its 200 day moving average price is $191.81. Zscaler, Inc. has a 52 week low of $153.45 and a 52 week high of $217.84. The company has a market capitalization of $31.49 billion, a P/E ratio of -814.20 and a beta of 0.88.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on ZS shares. Canaccord Genuity Group upped their price target on shares of Zscaler from $220.00 to $230.00 and gave the stock a “buy” rating in a research report on Tuesday, December 3rd. Susquehanna upped their price target on shares of Zscaler from $210.00 to $225.00 and gave the stock a “positive” rating in a research report on Tuesday, December 3rd. Guggenheim restated a “neutral” rating on shares of Zscaler in a research report on Tuesday, December 3rd. JMP Securities restated a “market outperform” rating and set a $240.00 price target (down previously from $270.00) on shares of Zscaler in a research report on Tuesday, December 3rd. Finally, 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 research report on Tuesday, November 26th. Nine analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $232.68.

About Zscaler

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.