AlphaQuest LLC Makes New $472,000 Investment in Zscaler, Inc. (NASDAQ:ZS)

AlphaQuest LLC bought a new position in shares of Zscaler, Inc. (NASDAQ:ZS) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 2,618 shares of the company’s stock, valued at approximately $472,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Global X Japan Co. Ltd. raised its stake in 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 acquiring an additional 79 shares during the period. Stonebridge Financial Group LLC bought a new stake in Zscaler during the 4th quarter worth approximately $29,000. Prestige Wealth Management Group LLC bought a new stake in Zscaler during the 3rd quarter worth approximately $31,000. True Wealth Design LLC raised its stake in Zscaler by 18,500.0% during the 3rd quarter. True Wealth Design LLC now owns 186 shares of the company’s stock worth $32,000 after acquiring an additional 185 shares during the period. Finally, Versant Capital Management Inc raised its stake in Zscaler by 136.8% during the 4th quarter. Versant Capital Management Inc now owns 180 shares of the company’s stock worth $32,000 after acquiring an additional 104 shares during the period. Institutional investors own 46.45% of the company’s stock.

Zscaler Trading Down 0.8 %

Shares of ZS opened at $197.79 on Thursday. The firm has a market capitalization of $30.35 billion, a P/E ratio of -791.16 and a beta of 0.88. Zscaler, Inc. has a 12-month low of $153.45 and a 12-month high of $217.84. The firm has a fifty day moving average price of $197.74 and a 200-day moving average price of $191.66.

Analysts Set New Price Targets

ZS has been the topic of a number of recent analyst reports. Mizuho raised their target price on shares of Zscaler from $210.00 to $225.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 12th. Wells Fargo & Company lifted their price objective 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. Needham & Company LLC reiterated a “buy” rating and set a $240.00 price objective on shares of Zscaler in a research report on Wednesday, March 5th. Barclays reiterated an “overweight” rating on shares of Zscaler in a research report on Wednesday, March 5th. Finally, Jefferies Financial Group lifted their price objective on shares of Zscaler from $225.00 to $245.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Nine analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the stock. According to MarketBeat.com, Zscaler currently has an average rating of “Moderate Buy” and a consensus target price of $233.88.

Insider Activity

In related news, CEO Jagtar Singh Chaudhry sold 2,863 shares of Zscaler stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $200.32, for a total value of $573,516.16. Following the completion of the sale, the chief executive officer now directly owns 358,569 shares in the company, valued at $71,828,542.08. The trade was a 0.79 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Syam Nair sold 3,682 shares of Zscaler stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $200.32, for a total value of $737,578.24. Following the completion of the sale, the insider now owns 142,866 shares of the company’s stock, valued at $28,618,917.12. The trade was a 2.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 10,248 shares of company stock valued at $2,052,879. 18.10% of the stock is currently owned by company insiders.

Zscaler 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.