Belpointe Asset Management LLC Acquires New Shares in Zscaler, Inc. (NASDAQ:ZS)

Belpointe Asset Management LLC bought a new stake in Zscaler, Inc. (NASDAQ:ZS) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,052 shares of the company’s stock, valued at approximately $210,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Sanctuary Advisors LLC increased its holdings in Zscaler by 48.1% during the 3rd quarter. Sanctuary Advisors LLC now owns 11,107 shares of the company’s stock worth $1,899,000 after purchasing an additional 3,608 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new position in shares of Zscaler during the third quarter worth about $38,000. Tidal Investments LLC raised its position in Zscaler by 278.9% in the 3rd quarter. Tidal Investments LLC now owns 34,098 shares of the company’s stock valued at $5,829,000 after buying an additional 25,099 shares during the last quarter. Versant Capital Management Inc lifted its stake in Zscaler by 136.8% in 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 in the last quarter. Finally, GAMMA Investing LLC boosted its position in Zscaler by 18.5% during the 4th quarter. GAMMA Investing LLC now owns 448 shares of the company’s stock worth $81,000 after acquiring an additional 70 shares during the last quarter. 46.45% of the stock is owned by institutional investors and hedge funds.

Zscaler Stock Performance

ZS stock opened at $201.09 on Friday. 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 $31.11 billion, a PE ratio of -804.36 and a beta of 1.12. The company’s 50-day simple moving average is $200.50 and its 200 day simple moving average is $195.99.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on ZS shares. JPMorgan Chase & Co. lifted their price objective on shares of Zscaler from $240.00 to $250.00 and gave the company an “overweight” rating in a report on Thursday, March 6th. Needham & Company LLC reissued a “buy” rating and set a $240.00 price target on shares of Zscaler in a research report on Wednesday, March 5th. Morgan Stanley decreased their price objective on Zscaler from $205.00 to $200.00 and set an “equal weight” rating for the company in a report on Wednesday. Rosenblatt Securities reiterated a “buy” rating and set a $235.00 target price on shares of Zscaler in a report on Tuesday. Finally, Scotiabank restated a “sector outperform” rating and issued a $242.00 price target (up from $225.00) on shares of Zscaler in a research note on Wednesday, March 5th. Eight investment 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 company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $234.77.

Insider Buying and Selling at Zscaler

In related news, Director Andrew William Fraser Brown sold 10,000 shares of the company’s stock in a transaction dated Wednesday, April 2nd. The shares were 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 of the company’s stock, 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 SEC, which is available through the SEC website. Also, major shareholder Ajay Mangal sold 190,480 shares of the stock in a transaction dated 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 sale, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold 209,234 shares of company stock valued at $42,030,790 in the last quarter. Company insiders own 18.10% of the company’s stock.

Zscaler Company 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.