Warm Springs Advisors Inc. Purchases Shares of 7,936 Zscaler, Inc. (NASDAQ:ZS)

Warm Springs Advisors Inc. acquired a new stake in shares of Zscaler, Inc. (NASDAQ:ZS) in the 4th quarter, Holdings Channel.com reports. The institutional investor acquired 7,936 shares of the company’s stock, valued at approximately $1,432,000. Zscaler makes up 1.3% of Warm Springs Advisors Inc.’s holdings, making the stock its 28th biggest holding.

Other institutional investors also recently made changes to their positions in the company. Global X Japan Co. Ltd. boosted its position in Zscaler by 127.4% in the 4th quarter. Global X Japan Co. Ltd. now owns 141 shares of the company’s stock valued at $25,000 after buying an additional 79 shares during the last quarter. Summit Securities Group LLC acquired a new stake in Zscaler during the fourth quarter worth about $27,000. Colonial Trust Co SC acquired a new stake in Zscaler during the fourth quarter worth about $28,000. Stonebridge Financial Group LLC acquired a new stake in Zscaler during the fourth quarter worth about $29,000. Finally, Elequin Capital LP acquired a new stake in Zscaler during the fourth quarter worth about $30,000. 46.45% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Zscaler

In other Zscaler news, insider Robert Schlossman sold 3,590 shares of the stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $250.00, for a total transaction of $897,500.00. Following the completion of the transaction, the insider now owns 100,230 shares in the company, valued at $25,057,500. This trade represents a 3.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Jagtar Singh Chaudhry sold 2,155 shares of the stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $199.15, for a total transaction of $429,168.25. Following the transaction, the chief executive officer now owns 356,414 shares of the company’s stock, valued at $70,979,848.10. This represents a 0.60% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 241,771 shares of company stock worth $50,165,040. 18.10% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on ZS shares. Stephens began coverage on shares of Zscaler in a research note on Tuesday, April 1st. They issued an “overweight” rating and a $255.00 price target on the stock. Citigroup restated a “buy” rating and set a $240.00 target price (up from $235.00) on shares of Zscaler in a report on Wednesday, March 5th. Bank of America upgraded shares of Zscaler from a “neutral” rating to a “buy” rating and raised their target price for the stock from $215.00 to $240.00 in a report on Friday, March 7th. Scotiabank reaffirmed a “sector outperform” rating and issued a $242.00 price objective (up previously from $225.00) on shares of Zscaler in a research note on Wednesday, March 5th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Zscaler from $250.00 to $275.00 and gave the company an “overweight” rating in a research note on Friday. Eight research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $239.31.

Zscaler Price Performance

NASDAQ ZS opened at $254.10 on Friday. Zscaler, Inc. has a 1 year low of $153.45 and a 1 year high of $255.87. The firm has a market cap of $39.32 billion, a price-to-earnings ratio of -1,016.40 and a beta of 1.14. The company has a fifty day moving average price of $215.58 and a 200-day moving average price of $204.31.

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.