MIG Capital LLC Buys New Stake in Zscaler, Inc. (NASDAQ:ZS)

MIG Capital LLC purchased a new stake in Zscaler, Inc. (NASDAQ:ZS) in the fourth quarter, HoldingsChannel reports. The institutional investor purchased 1,825 shares of the company’s stock, valued at approximately $329,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ZS. Ilmarinen Mutual Pension Insurance Co lifted its stake in Zscaler by 71.4% in the fourth quarter. Ilmarinen Mutual Pension Insurance Co now owns 60,000 shares of the company’s stock valued at $10,825,000 after buying an additional 25,000 shares during the last quarter. Envestnet Asset Management Inc. raised its position in Zscaler by 96.0% in the 4th quarter. Envestnet Asset Management Inc. now owns 25,579 shares of the company’s stock valued at $4,615,000 after purchasing an additional 12,531 shares during the last quarter. Dynamic Technology Lab Private Ltd boosted its stake in Zscaler by 305.5% during the 4th quarter. Dynamic Technology Lab Private Ltd now owns 6,423 shares of the company’s stock worth $1,159,000 after purchasing an additional 4,839 shares during the period. Mizuho Bank Ltd. boosted its stake in Zscaler by 78.6% during the 4th quarter. Mizuho Bank Ltd. now owns 250 shares of the company’s stock worth $45,000 after purchasing an additional 110 shares during the period. Finally, Hel Ved Capital Management Ltd increased its stake in Zscaler by 291.7% in the fourth quarter. Hel Ved Capital Management Ltd now owns 10,380 shares of the company’s stock valued at $1,873,000 after purchasing an additional 7,730 shares during the period. 46.45% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on ZS. Jefferies Financial Group decreased their target price on shares of Zscaler from $245.00 to $240.00 and set a “buy” rating for the company in a research note on Monday, March 31st. Mizuho lifted their target price on Zscaler from $210.00 to $225.00 and gave the company a “neutral” rating in a research note on Wednesday, February 12th. Rosenblatt Securities upgraded Zscaler from a “neutral” rating to a “buy” rating and upped their price target for the stock from $190.00 to $235.00 in a research note on Thursday, March 6th. Sanford C. Bernstein reiterated an “outperform” rating and issued a $244.00 price objective on shares of Zscaler in a research report on Thursday, March 6th. Finally, Scotiabank restated a “sector outperform” rating and set a $242.00 price objective (up previously from $225.00) on shares of Zscaler in a research report on Wednesday, March 5th. Eight analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $234.94.

Insider Activity at Zscaler

In related news, major shareholder Ajay Mangal sold 190,480 shares of the firm’s stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $200.69, for a total transaction of $38,227,431.20. Following the sale, the insider now owns 2,580,210 shares in the company, valued at approximately $517,822,344.90. This trade represents a 6.87 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Andrew William Fraser Brown sold 10,000 shares of the business’s stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $206.00, for a total value of $2,060,000.00. Following the completion of the transaction, the director now owns 27,216 shares of the company’s stock, valued at $5,606,496. This trade represents a 26.87 % decrease in their ownership of the stock. 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 quarter. Insiders own 18.10% of the company’s stock.

Zscaler Stock Performance

Shares of NASDAQ:ZS opened at $174.67 on Friday. Zscaler, Inc. has a one year low of $153.45 and a one year high of $217.84. The stock has a market cap of $27.03 billion, a PE ratio of -698.68 and a beta of 1.12. The business’s fifty day moving average price is $202.38 and its two-hundred day moving average price is $194.60.

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.