ExodusPoint Capital Management LP Purchases 8,228 Shares of Zscaler, Inc. (NASDAQ:ZS)

ExodusPoint Capital Management LP grew its stake in shares of Zscaler, Inc. (NASDAQ:ZS) by 33.8% in the fourth quarter, Holdings Channel reports. The firm owned 32,551 shares of the company’s stock after acquiring an additional 8,228 shares during the period. ExodusPoint Capital Management LP’s holdings in Zscaler were worth $5,873,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Global X Japan Co. Ltd. grew its stake in Zscaler by 127.4% in the fourth quarter. Global X Japan Co. Ltd. now owns 141 shares of the company’s stock valued at $25,000 after purchasing an additional 79 shares during the last quarter. Summit Securities Group LLC bought a new stake in shares of Zscaler in the 4th quarter valued at about $27,000. Stonebridge Financial Group LLC purchased a new position in shares of Zscaler in the 4th quarter worth approximately $29,000. Prestige Wealth Management Group LLC bought a new position in shares of Zscaler during the 3rd quarter worth approximately $31,000. Finally, Versant Capital Management Inc raised its stake in shares of Zscaler by 136.8% during the 4th quarter. Versant Capital Management Inc now owns 180 shares of the company’s stock worth $32,000 after acquiring an additional 104 shares in the last quarter. 46.45% of the stock is currently owned by institutional investors.

Zscaler Stock Down 9.1 %

ZS stock opened at $174.67 on Friday. Zscaler, Inc. has a 52 week low of $153.45 and a 52 week high of $217.84. The firm has a 50-day simple moving average of $202.38 and a 200-day simple moving average of $194.60. The stock has a market capitalization of $27.03 billion, a P/E ratio of -698.68 and a beta of 1.12.

Insider Buying and Selling

In other Zscaler news, major shareholder Ajay Mangal sold 190,480 shares of the firm’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $200.69, for a total value of $38,227,431.20. Following the transaction, 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 position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Jagtar Singh Chaudhry sold 2,155 shares of the company’s stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $199.15, for a total transaction of $429,168.25. Following the sale, the chief executive officer now directly owns 356,414 shares of the company’s stock, valued at $70,979,848.10. The trade was a 0.60 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 209,234 shares of company stock worth $42,030,790. Insiders own 18.10% of the company’s stock.

Analysts Set New Price Targets

ZS has been the topic of several analyst reports. The Goldman Sachs Group set a $207.00 price target on shares of Zscaler and gave the stock a “neutral” rating in a report on Thursday, March 6th. Morgan Stanley began coverage on Zscaler in a research note on Tuesday, March 18th. They set an “equal weight” rating on the stock. Mizuho increased their price target on Zscaler from $210.00 to $225.00 and gave the company a “neutral” rating in a research note on Wednesday, February 12th. Stephens started coverage on Zscaler in a research note on Tuesday, April 1st. They set an “overweight” rating and a $255.00 price target on the stock. Finally, Robert W. Baird increased their price objective on shares of Zscaler from $240.00 to $250.00 and gave the company an “outperform” rating in a research report on Thursday, March 6th. Eight equities research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $234.94.

About Zscaler

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.