Headlands Technologies LLC Buys New Stake in Zscaler, Inc. (NASDAQ:ZS)

Headlands Technologies LLC bought a new position in shares of Zscaler, Inc. (NASDAQ:ZS) in the fourth quarter, HoldingsChannel.com reports. The firm bought 13,423 shares of the company’s stock, valued at approximately $2,422,000.

A number of other hedge funds also recently bought and sold shares of the company. Global X Japan Co. Ltd. increased its stake in shares of Zscaler by 127.4% in 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 during the period. Summit Securities Group LLC bought a new position in Zscaler in the 4th quarter worth approximately $27,000. Stonebridge Financial Group LLC bought a new position in Zscaler in the 4th quarter worth approximately $29,000. Prestige Wealth Management Group LLC acquired a new position in shares of Zscaler during the third quarter worth approximately $31,000. Finally, True Wealth Design LLC boosted its position in shares of Zscaler by 18,500.0% in the third quarter. True Wealth Design LLC now owns 186 shares of the company’s stock valued at $32,000 after acquiring an additional 185 shares during the period. 46.45% of the stock is currently owned by institutional investors.

Zscaler Stock Down 4.2 %

Shares of NASDAQ:ZS opened at $198.42 on Tuesday. The firm has a market cap of $30.70 billion, a P/E ratio of -793.68 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 company’s 50-day moving average price is $202.30 and its two-hundred day moving average price is $194.12.

Insider Transactions at Zscaler

In related news, insider Robert Schlossman sold 2,878 shares of the firm’s stock in a transaction dated 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 in the company, valued at $21,425,951.05. This trade represents a 2.61 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Remo Canessa sold 3,721 shares of the business’s stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $199.15, for a total value of $741,037.15. Following the sale, the chief financial officer now directly owns 213,702 shares of the company’s stock, valued at $42,558,753.30. This represents a 1.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 199,234 shares of company stock worth $39,970,790. Corporate insiders own 18.10% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on ZS shares. Loop Capital dropped their target price on shares of Zscaler from $200.00 to $195.00 and set a “hold” rating on the stock in a research report on Tuesday, December 3rd. Needham & Company LLC reaffirmed a “buy” rating and set a $240.00 price objective on shares of Zscaler in a research report on Wednesday, March 5th. Guggenheim reissued a “neutral” rating on shares of Zscaler in a research report on Tuesday, December 3rd. Susquehanna boosted their price target on Zscaler from $210.00 to $225.00 and gave the company a “positive” rating in a research note on Tuesday, December 3rd. Finally, Wedbush lifted their price objective on Zscaler from $230.00 to $240.00 and gave the stock an “outperform” rating in a report on Thursday, March 6th. Nine investment analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $232.52.

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.