Brevan Howard Capital Management LP Takes Position in Zscaler, Inc. (NASDAQ:ZS)

Brevan Howard Capital Management LP purchased a new position in shares of Zscaler, Inc. (NASDAQ:ZS) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 13,288 shares of the company’s stock, valued at approximately $2,397,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB bought a new position in Zscaler in the third quarter valued at about $38,000. Versant Capital Management Inc grew its holdings in shares of Zscaler by 136.8% during the 4th quarter. Versant Capital Management Inc now owns 180 shares of the company’s stock valued at $32,000 after purchasing an additional 104 shares during the last quarter. GAMMA Investing LLC increased its position in Zscaler by 18.5% during the 4th quarter. GAMMA Investing LLC now owns 448 shares of the company’s stock worth $81,000 after purchasing an additional 70 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in Zscaler by 1.3% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 11,666 shares of the company’s stock valued at $1,994,000 after purchasing an additional 151 shares during the last quarter. Finally, Salem Investment Counselors Inc. grew its stake in shares of Zscaler by 1.9% during the fourth quarter. Salem Investment Counselors Inc. now owns 10,043 shares of the company’s stock worth $1,812,000 after buying an additional 188 shares during the last quarter. Institutional investors own 46.45% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on ZS shares. Scotiabank reaffirmed a “sector outperform” rating and set a $242.00 price target (up previously from $225.00) on shares of Zscaler in a research note on Wednesday, March 5th. Wells Fargo & Company increased their price objective on shares of Zscaler from $190.00 to $210.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 6th. Bank of America raised shares of Zscaler from a “neutral” rating to a “buy” rating and upped their price target for the company from $215.00 to $240.00 in a research report on Friday, March 7th. Robert W. Baird lifted their price objective on Zscaler from $240.00 to $250.00 and gave the stock an “outperform” rating in a research report on Thursday, March 6th. Finally, Morgan Stanley lowered their target price on Zscaler from $205.00 to $200.00 and set an “equal weight” rating for the company in a report on Wednesday, April 16th. Eight equities 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 company. According to data from MarketBeat, Zscaler presently has a consensus rating of “Moderate Buy” and a consensus target price of $236.66.

Zscaler Stock Performance

Shares of ZS opened at $233.10 on Wednesday. The firm has a market cap of $36.07 billion, a P/E ratio of -932.40 and a beta of 1.14. Zscaler, Inc. has a fifty-two week low of $153.45 and a fifty-two week high of $235.67. The business has a 50-day moving average of $203.21 and a 200 day moving average of $199.02.

Insider Activity at Zscaler

In other news, Director Andrew William Fraser Brown sold 10,000 shares of the firm’s stock in a transaction that occurred 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 directly owns 27,216 shares in the company, valued at approximately $5,606,496. This trade represents a 26.87 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Ajay Mangal sold 190,480 shares of the firm’s stock in a transaction 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 completion of the transaction, the insider now directly owns 2,580,210 shares of the company’s stock, valued at approximately $517,822,344.90. The trade was a 6.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 209,234 shares of company stock worth $42,030,790. 18.10% of the stock is owned by corporate insiders.

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.