1,825 Shares in Zscaler, Inc. (NASDAQ:ZS) Purchased by MIG Capital LLC

MIG Capital LLC acquired a new stake in Zscaler, Inc. (NASDAQ:ZS) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 1,825 shares of the company’s stock, valued at approximately $329,000.

A number of other institutional investors and hedge funds have also made changes to their positions in ZS. Global X Japan Co. Ltd. raised its position in shares of Zscaler by 127.4% during the 4th quarter. Global X Japan Co. Ltd. now owns 141 shares of the company’s stock worth $25,000 after purchasing an additional 79 shares during the last quarter. Summit Securities Group LLC acquired a new position in shares of Zscaler during the fourth quarter valued at approximately $27,000. Stonebridge Financial Group LLC acquired a new stake in shares of Zscaler in the fourth quarter worth approximately $29,000. Prestige Wealth Management Group LLC purchased a new stake in shares of Zscaler during the third quarter worth approximately $31,000. Finally, Versant Capital Management Inc raised 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 purchasing an additional 104 shares during the last quarter. 46.45% of the stock is currently owned by hedge funds and other institutional investors.

Zscaler Stock Down 9.1 %

NASDAQ:ZS opened at $174.67 on Friday. Zscaler, Inc. has a 52 week low of $153.45 and a 52 week high of $217.84. The company has a fifty day simple moving average of $202.38 and a two-hundred day simple moving average of $194.60. The company has a market cap of $27.03 billion, a price-to-earnings ratio of -698.68 and a beta of 1.12.

Insider Buying and Selling

In related news, 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 transaction, the insider now owns 107,587 shares of the company’s stock, valued at $21,425,951.05. This represents a 2.61 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Andrew William Fraser Brown sold 10,000 shares of Zscaler stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $206.00, for a total value of $2,060,000.00. Following the sale, the director now directly owns 27,216 shares of the company’s stock, valued at $5,606,496. This trade represents a 26.87 % 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 three months. 18.10% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on ZS. BMO Capital Markets upped their target price on shares of Zscaler from $222.00 to $233.00 and gave the stock an “outperform” rating in a report on Thursday, March 6th. Morgan Stanley assumed coverage on shares of Zscaler in a report on Tuesday, March 18th. They issued an “equal weight” rating for the company. Needham & Company LLC restated a “buy” rating and set a $240.00 target price on shares of Zscaler in a report on Wednesday, March 5th. Wells Fargo & Company increased their price target on Zscaler from $190.00 to $210.00 and gave the company an “equal weight” rating in a report on Thursday, March 6th. Finally, Rosenblatt Securities raised Zscaler from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $190.00 to $235.00 in a research note on Thursday, March 6th. Eight analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Zscaler presently has a consensus rating of “Moderate Buy” and an average price target of $234.94.

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.