Zscaler, Inc. (NASDAQ:ZS) Shares Purchased by ExodusPoint Capital Management LP

ExodusPoint Capital Management LP lifted its stake in shares of Zscaler, Inc. (NASDAQ:ZS) by 33.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 32,551 shares of the company’s stock after purchasing an additional 8,228 shares during the quarter. ExodusPoint Capital Management LP’s holdings in Zscaler were worth $5,873,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in ZS. Nomura Asset Management Co. Ltd. grew its stake in Zscaler by 11.0% in the third quarter. Nomura Asset Management Co. Ltd. now owns 380,463 shares of the company’s stock valued at $65,036,000 after purchasing an additional 37,801 shares in the last quarter. Zweig DiMenna Associates LLC raised its stake in Zscaler by 29.8% during the 4th quarter. Zweig DiMenna Associates LLC now owns 77,941 shares of the company’s stock valued at $14,061,000 after purchasing an additional 17,900 shares during the last quarter. Baader Bank Aktiengesellschaft lifted its stake in shares of Zscaler by 30.3% in the fourth quarter. Baader Bank Aktiengesellschaft now owns 8,400 shares of the company’s stock valued at $1,515,000 after buying an additional 1,952 shares during the period. Benjamin Edwards Inc. bought a new stake in shares of Zscaler in the 3rd quarter worth approximately $449,000. Finally, Everence Capital Management Inc. acquired a new stake in Zscaler during the fourth quarter worth $565,000. 46.45% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CEO Jagtar Singh Chaudhry sold 2,155 shares of the business’s stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $199.15, for a total transaction of $429,168.25. Following the completion of the sale, the chief executive officer now owns 356,414 shares of the company’s stock, valued at $70,979,848.10. The trade was a 0.60 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder Ajay Mangal sold 190,480 shares of the company’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $200.69, for a total value of $38,227,431.20. Following the completion of the sale, the insider now owns 2,580,210 shares of the company’s stock, valued at approximately $517,822,344.90. The trade was a 6.87 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 209,234 shares of company stock valued at $42,030,790 over the last ninety days. Company insiders own 18.10% of the company’s stock.

Zscaler Price Performance

ZS opened at $174.67 on Friday. The firm has a market capitalization of $27.03 billion, a price-to-earnings ratio of -698.68 and a beta of 1.12. The business has a 50 day simple moving average of $202.38 and a two-hundred day simple moving average of $194.60. Zscaler, Inc. has a one year low of $153.45 and a one year high of $217.84.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $240.00 price target on shares of Zscaler in a research note on Wednesday, March 5th. Wedbush boosted their price objective on shares of Zscaler from $230.00 to $240.00 and gave the stock an “outperform” rating in a research report on Thursday, March 6th. Wells Fargo & Company upped their target price on shares of Zscaler from $190.00 to $210.00 and gave the company an “equal weight” rating in a research report on Thursday, March 6th. JPMorgan Chase & Co. raised their price target on Zscaler from $240.00 to $250.00 and gave the stock an “overweight” rating in a research report on Thursday, March 6th. Finally, Rosenblatt Securities upgraded shares of Zscaler from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $190.00 to $235.00 in a report on Thursday, March 6th. Eight analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price 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.