1,486 Shares in Zscaler, Inc. (NASDAQ:ZS) Acquired by Everest Management Corp.

Everest Management Corp. bought a new position in shares of Zscaler, Inc. (NASDAQ:ZS) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 1,486 shares of the company’s stock, valued at approximately $268,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Guggenheim Capital LLC boosted its stake in shares of Zscaler by 4.6% in the 4th quarter. Guggenheim Capital LLC now owns 70,812 shares of the company’s stock valued at $12,775,000 after buying an additional 3,084 shares during the period. Belpointe Asset Management LLC purchased a new position in Zscaler in the fourth quarter worth approximately $210,000. CreativeOne Wealth LLC acquired a new position in Zscaler during the 4th quarter worth approximately $431,000. Summit Investment Advisors Inc. increased its position in shares of Zscaler by 7.3% in the 4th quarter. Summit Investment Advisors Inc. now owns 4,881 shares of the company’s stock valued at $881,000 after purchasing an additional 333 shares during the last quarter. Finally, Grandeur Peak Global Advisors LLC raised its holdings in shares of Zscaler by 2.7% in the 4th quarter. Grandeur Peak Global Advisors LLC now owns 26,160 shares of the company’s stock valued at $4,720,000 after purchasing an additional 693 shares in the last quarter. Hedge funds and other institutional investors own 46.45% of the company’s stock.

Zscaler Trading Up 2.6 %

Shares of ZS opened at $204.64 on Wednesday. Zscaler, Inc. has a twelve month low of $153.45 and a twelve month high of $217.84. The firm has a market capitalization of $31.66 billion, a P/E ratio of -818.56 and a beta of 1.12. The firm’s 50-day moving average is $200.78 and its two-hundred day moving average is $195.74.

Insider Buying and Selling

In related news, major shareholder Ajay Mangal sold 190,480 shares of Zscaler stock in a transaction that occurred on 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 completion of the transaction, the insider now directly owns 2,580,210 shares in the company, valued at $517,822,344.90. The trade was a 6.87 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Robert Schlossman sold 2,878 shares of the company’s stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $199.15, for a total value of $573,153.70. Following the completion of the sale, the insider now directly owns 107,587 shares in the company, valued at approximately $21,425,951.05. The trade was a 2.61 % 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 worth $42,030,790 in the last quarter. Company insiders own 18.10% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on ZS. Stephens initiated coverage on Zscaler in a report on Tuesday, April 1st. They issued an “overweight” rating and a $255.00 target price on the stock. Needham & Company LLC reissued a “buy” rating and set a $240.00 target price on shares of Zscaler in a research report on Wednesday, March 5th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $235.00 price target on shares of Zscaler in a report on Tuesday. Scotiabank reissued a “sector outperform” rating and set a $242.00 price objective (up previously from $225.00) on shares of Zscaler in a report on Wednesday, March 5th. Finally, Wedbush upped their target price on shares of Zscaler from $230.00 to $240.00 and gave the company an “outperform” rating in a report on Thursday, March 6th. 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 stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $234.94.

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.