Prescott Group Capital Management L.L.C. acquired a new position in shares of Zscaler Inc (NASDAQ:ZS) in the 3rd quarter, HoldingsChannel reports. The fund acquired 12,000 shares of the company’s stock, valued at approximately $489,000.
Several other large investors have also added to or reduced their stakes in the company. FMR LLC boosted its position in shares of Zscaler by 305.1% in the 2nd quarter. FMR LLC now owns 5,260,146 shares of the company’s stock valued at $188,050,000 after purchasing an additional 3,961,759 shares during the period. BlackRock Inc. boosted its position in shares of Zscaler by 23,211.1% in the 2nd quarter. BlackRock Inc. now owns 948,061 shares of the company’s stock valued at $33,893,000 after purchasing an additional 943,994 shares during the period. Waddell & Reed Financial Inc. boosted its position in shares of Zscaler by 602.0% in the 2nd quarter. Waddell & Reed Financial Inc. now owns 410,809 shares of the company’s stock valued at $14,686,000 after purchasing an additional 352,289 shares during the period. Sandler Capital Management acquired a new stake in shares of Zscaler in the 2nd quarter valued at about $10,142,000. Finally, JPMorgan Chase & Co. boosted its position in shares of Zscaler by 16.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,649,765 shares of the company’s stock valued at $67,277,000 after purchasing an additional 231,351 shares during the period. 26.42% of the stock is owned by institutional investors and hedge funds.
ZS opened at $33.85 on Friday. Zscaler Inc has a 52 week low of $24.76 and a 52 week high of $48.24.
A number of analysts recently issued reports on ZS shares. Morgan Stanley upped their target price on Zscaler from $31.00 to $41.00 and gave the company an “equal weight” rating in a research report on Thursday, September 6th. Robert W. Baird reissued an “outperform” rating on shares of Zscaler in a research report on Thursday, October 18th. BTIG Research cut Zscaler from a “buy” rating to a “neutral” rating and set a $33.00 target price for the company. in a research report on Monday, September 10th. They noted that the move was a valuation call. Wedbush started coverage on Zscaler in a research report on Thursday, October 18th. They issued an “outperform” rating and a $48.00 target price for the company. Finally, Credit Suisse Group upped their target price on Zscaler from $38.00 to $46.00 and gave the company an “outperform” rating in a research report on Thursday, September 6th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $37.58.
In other Zscaler news, EVP Amit Sinha sold 4,807 shares of the company’s stock in a transaction that occurred on Thursday, October 11th. The stock was sold at an average price of $34.90, for a total transaction of $167,764.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Manoj Apte sold 107,544 shares of the company’s stock in a transaction that occurred on Thursday, September 13th. The shares were sold at an average price of $41.88, for a total value of $4,503,942.72. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 275,614 shares of company stock valued at $11,192,127. 27.40% of the stock is owned by company insiders.
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Zscaler, Inc operates as a cloud security company worldwide. The company's flagship services include Zscaler Internet Access solution that connect users to externally managed applications, including software-as-a-service applications and Internet destinations; and Zscaler Private Access solution, which is designed to provide access to internally managed applications, either hosted internally in data centers, and private or public clouds.
See Also: Intrinsic Value
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