Clare Market Investments LLC Buys New Stake in Zscaler, Inc. (NASDAQ:ZS)

Clare Market Investments LLC bought a new stake in Zscaler, Inc. (NASDAQ:ZS) during the fourth quarter, Holdings Channel reports. The firm bought 27,190 shares of the company’s stock, valued at approximately $4,905,000. Zscaler makes up about 1.2% of Clare Market Investments LLC’s portfolio, making the stock its 17th biggest holding.

A number of other hedge funds and other institutional investors have also bought and sold shares of ZS. SLT Holdings LLC acquired a new stake in Zscaler in the 4th quarter worth $1,078,000. AlphaQuest LLC acquired a new stake in Zscaler in the 4th quarter worth $472,000. OFI Invest Asset Management acquired a new stake in Zscaler in the 4th quarter worth $405,000. Dorsey & Whitney Trust CO LLC grew its position in Zscaler by 18.2% in the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 1,809 shares of the company’s stock worth $326,000 after purchasing an additional 278 shares during the last quarter. Finally, Larson Financial Group LLC grew its position in Zscaler by 17.9% in the 4th quarter. Larson Financial Group LLC now owns 980 shares of the company’s stock worth $177,000 after purchasing an additional 149 shares during the last quarter. 46.45% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Zscaler

In related news, CFO Remo Canessa sold 3,703 shares of the stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $200.32, for a total value of $741,784.96. Following the transaction, the chief financial officer now directly owns 220,635 shares in the company, valued at $44,197,603.20. This represents a 1.65 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Syam Nair sold 3,682 shares of the stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $200.32, for a total transaction of $737,578.24. Following the completion of the transaction, the insider now owns 142,866 shares in the company, valued at $28,618,917.12. This represents a 2.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 10,248 shares of company stock worth $2,052,879. Corporate insiders own 18.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on ZS. BMO Capital Markets raised their price target on shares of Zscaler from $222.00 to $233.00 and gave the stock an “outperform” rating in a research report on Thursday. Loop Capital decreased 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. Stifel Nicolaus lifted their target price on shares of Zscaler from $220.00 to $235.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. UBS Group lifted their target price on shares of Zscaler from $250.00 to $260.00 and gave the company a “buy” rating in a research report on Thursday. Finally, Wedbush lifted their target price on shares of Zscaler from $230.00 to $240.00 and gave the company an “outperform” rating in a research report on Thursday. Eight investment analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Zscaler currently has an average rating of “Moderate Buy” and a consensus target price of $234.29.

Zscaler Trading Up 3.3 %

Shares of ZS stock opened at $208.76 on Monday. Zscaler, Inc. has a 1 year low of $153.45 and a 1 year high of $217.84. The firm’s 50 day moving average is $196.78 and its 200-day moving average is $191.64. The firm has a market capitalization of $32.03 billion, a price-to-earnings ratio of -835.04 and a beta of 0.88.

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.