Altshuler Shaham Ltd Purchases New Shares in Zscaler, Inc. (NASDAQ:ZS)

Altshuler Shaham Ltd acquired a new position in shares of Zscaler, Inc. (NASDAQ:ZS) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 6,680 shares of the company’s stock, valued at approximately $1,205,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in ZS. Global X Japan Co. Ltd. increased its position in shares of 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 purchasing an additional 79 shares in the last quarter. Summit Securities Group LLC acquired a new stake in Zscaler during the 4th quarter worth $27,000. Stonebridge Financial Group LLC purchased a new stake in shares of Zscaler during the fourth quarter worth $29,000. Versant Capital Management Inc raised its position in shares of Zscaler by 136.8% in the fourth quarter. Versant Capital Management Inc now owns 180 shares of the company’s stock valued at $32,000 after buying an additional 104 shares during the last quarter. Finally, Modus Advisors LLC purchased a new position in shares of Zscaler in the fourth quarter worth about $36,000. 46.45% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently issued reports on ZS. Jefferies Financial Group dropped their price objective on shares of Zscaler from $245.00 to $240.00 and set a “buy” rating for the company in a research note on Monday, March 31st. Stephens started coverage on Zscaler in a report on Tuesday, April 1st. They set an “overweight” rating and a $255.00 price target on the stock. Morgan Stanley dropped 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. Robert W. Baird lifted their target price on shares of Zscaler from $240.00 to $250.00 and gave the stock an “outperform” rating in a research note on Thursday, March 6th. Finally, Wells Fargo & Company raised their price target on shares of Zscaler from $190.00 to $210.00 and gave the stock an “equal weight” rating in a report on Thursday, March 6th. Eight research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $234.77.

Zscaler Stock Down 0.9 %

Shares of NASDAQ ZS opened at $202.87 on Thursday. The stock has a market cap of $31.39 billion, a PE ratio of -811.48 and a beta of 1.12. Zscaler, Inc. has a 52-week low of $153.45 and a 52-week high of $217.84. The business has a 50-day moving average price of $200.73 and a 200 day moving average price of $195.79.

Insider Activity

In other news, Director Andrew William Fraser Brown sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $206.00, for a total transaction of $2,060,000.00. Following the completion of the sale, the director now owns 27,216 shares in the company, valued at $5,606,496. This represents a 26.87 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Robert Schlossman sold 2,878 shares of the stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $199.15, for a total value of $573,153.70. Following the sale, the insider now directly 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. Insiders have sold 209,234 shares of company stock valued at $42,030,790 in the last ninety days. 18.10% of the stock is currently owned by company insiders.

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.