CloudAlpha Capital Management Limited Hong Kong Purchases Shares of 30,000 Zscaler, Inc. (NASDAQ:ZS)

CloudAlpha Capital Management Limited Hong Kong purchased a new stake in shares of Zscaler, Inc. (NASDAQ:ZS) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 30,000 shares of the company’s stock, valued at approximately $6,647,000. Zscaler comprises about 0.6% of CloudAlpha Capital Management Limited Hong Kong’s holdings, making the stock its 23rd biggest position.

Other hedge funds have also modified their holdings of the company. Renaissance Technologies LLC acquired a new position in shares of Zscaler during the first quarter valued at about $168,365,000. Norges Bank acquired a new position in shares of Zscaler during the fourth quarter valued at about $59,634,000. Polar Capital Holdings Plc acquired a new position in shares of Zscaler during the third quarter valued at about $61,681,000. Whale Rock Capital Management LLC increased its holdings in shares of Zscaler by 71.4% during the second quarter. Whale Rock Capital Management LLC now owns 776,972 shares of the company’s stock valued at $113,671,000 after acquiring an additional 323,719 shares in the last quarter. Finally, International Assets Investment Management LLC increased its holdings in shares of Zscaler by 19,012.4% during the fourth quarter. International Assets Investment Management LLC now owns 223,997 shares of the company’s stock valued at $49,629,000 after acquiring an additional 222,825 shares in the last quarter. 46.45% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have recently issued reports on ZS shares. Cantor Fitzgerald restated a “neutral” rating and set a $230.00 price objective on shares of Zscaler in a report on Wednesday. Needham & Company LLC restated a “strong-buy” rating and set a $290.00 price objective on shares of Zscaler in a report on Friday, March 1st. BMO Capital Markets cut their price target on shares of Zscaler from $268.00 to $255.00 and set an “outperform” rating on the stock in a report on Friday, March 1st. Morgan Stanley increased their price target on shares of Zscaler from $195.00 to $214.00 and gave the stock an “equal weight” rating in a report on Monday, February 26th. Finally, Macquarie reiterated an “outperform” rating and issued a $245.00 price target on shares of Zscaler in a report on Tuesday, March 19th. Six investment analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Zscaler currently has a consensus rating of “Moderate Buy” and an average target price of $230.55.

Zscaler Trading Down 0.8 %

Shares of ZS traded down $1.36 during trading on Wednesday, reaching $172.96. 1,296,663 shares of the company traded hands, compared to its average volume of 2,278,155. Zscaler, Inc. has a twelve month low of $84.93 and a twelve month high of $259.61. The stock has a market cap of $25.92 billion, a PE ratio of -183.52 and a beta of 0.80. The stock has a 50-day simple moving average of $210.76 and a 200-day simple moving average of $203.02. The company has a quick ratio of 1.98, a current ratio of 1.98 and a debt-to-equity ratio of 1.19.

Zscaler (NASDAQ:ZS) last announced its quarterly earnings results on Thursday, February 29th. The company reported ($0.16) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.08. Zscaler had a negative net margin of 7.32% and a negative return on equity of 14.60%. The business had revenue of $525.00 million during the quarter, compared to analysts’ expectations of $507.56 million. On average, analysts anticipate that Zscaler, Inc. will post -0.81 earnings per share for the current year.

Insider Activity at Zscaler

In related news, CEO Jagtar Singh Chaudhry sold 2,115 shares of Zscaler stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $193.15, for a total value of $408,512.25. Following the completion of the transaction, the chief executive officer now owns 367,152 shares in the company, valued at $70,915,408.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO Remo Canessa sold 7,707 shares of Zscaler stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $193.15, for a total value of $1,488,607.05. Following the completion of the transaction, the chief financial officer now owns 255,943 shares in the company, valued at $49,435,390.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jagtar Singh Chaudhry sold 2,115 shares of Zscaler stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $193.15, for a total transaction of $408,512.25. Following the completion of the transaction, the chief executive officer now owns 367,152 shares of the company’s stock, valued at approximately $70,915,408.80. The disclosure for this sale can be found here. Over the last quarter, insiders sold 26,715 shares of company stock worth $5,865,882. Corporate insiders own 19.20% of the company’s stock.

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.