Left Brain Wealth Management LLC Takes $479,000 Position in Zscaler, Inc. (NASDAQ:ZS)

Left Brain Wealth Management LLC bought a new stake in Zscaler, Inc. (NASDAQ:ZS) in the fourth quarter, HoldingsChannel.com reports. The institutional investor bought 2,656 shares of the company’s stock, valued at approximately $479,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ZS. Geode Capital Management LLC increased its position in Zscaler by 3.9% in the third quarter. Geode Capital Management LLC now owns 1,625,861 shares of the company’s stock worth $277,327,000 after purchasing an additional 60,414 shares during the period. Champlain Investment Partners LLC increased its position in Zscaler by 28.2% in the third quarter. Champlain Investment Partners LLC now owns 1,289,350 shares of the company’s stock worth $220,401,000 after purchasing an additional 283,540 shares during the period. Bank of New York Mellon Corp increased its position in Zscaler by 3.2% in the fourth quarter. Bank of New York Mellon Corp now owns 539,113 shares of the company’s stock worth $97,261,000 after purchasing an additional 16,742 shares during the period. Westfield Capital Management Co. LP increased its position in Zscaler by 33.8% in the third quarter. Westfield Capital Management Co. LP now owns 399,516 shares of the company’s stock worth $68,293,000 after purchasing an additional 100,814 shares during the period. Finally, Nomura Asset Management Co. Ltd. increased its position in Zscaler by 11.0% in the third quarter. Nomura Asset Management Co. Ltd. now owns 380,463 shares of the company’s stock worth $65,036,000 after purchasing an additional 37,801 shares during the period. 46.45% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Loop Capital reduced their target price on Zscaler from $200.00 to $195.00 and set a “hold” rating on the stock in a report on Tuesday, December 3rd. Wells Fargo & Company raised their target price on Zscaler from $190.00 to $210.00 and gave the stock an “equal weight” rating in a report on Thursday, March 6th. Needham & Company LLC restated a “buy” rating and set a $240.00 target price on shares of Zscaler in a report on Wednesday, March 5th. KeyCorp raised their target price on Zscaler from $245.00 to $250.00 and gave the stock an “overweight” rating in a report on Tuesday, December 3rd. Finally, Guggenheim restated a “neutral” rating on shares of Zscaler in a report on Tuesday, December 3rd. Nine equities research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $233.88.

Insiders Place Their Bets

In other news, insider Syam Nair sold 3,682 shares of the stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $200.32, for a total transaction of $737,578.24. Following the sale, the insider now directly owns 142,866 shares of the company’s stock, valued at approximately $28,618,917.12. This represents a 2.51 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Jagtar Singh Chaudhry sold 2,863 shares of the stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $200.32, for a total value of $573,516.16. Following the sale, the chief executive officer now directly owns 358,569 shares in the company, valued at approximately $71,828,542.08. This trade represents a 0.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 10,248 shares of company stock worth $2,052,879 in the last 90 days. Company insiders own 18.10% of the company’s stock.

Zscaler Price Performance

ZS stock opened at $189.58 on Friday. The stock has a market capitalization of $29.33 billion, a price-to-earnings ratio of -758.32 and a beta of 0.88. The business’s fifty day moving average price is $197.74 and its two-hundred day moving average price is $191.66. Zscaler, Inc. has a fifty-two week low of $153.45 and a fifty-two week high of $217.84.

Zscaler Company 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.