Clare Market Investments LLC Acquires Shares of 27,190 Zscaler, Inc. (NASDAQ:ZS)

Clare Market Investments LLC acquired a new stake in Zscaler, Inc. (NASDAQ:ZS) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 27,190 shares of the company’s stock, valued at approximately $4,905,000. Zscaler comprises approximately 1.2% of Clare Market Investments LLC’s holdings, making the stock its 17th largest position.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Geode Capital Management LLC raised its stake in shares of Zscaler by 3.9% in the 3rd quarter. Geode Capital Management LLC now owns 1,625,861 shares of the company’s stock valued at $277,327,000 after purchasing an additional 60,414 shares in the last quarter. Champlain Investment Partners LLC raised its stake in shares of Zscaler by 28.2% in the 3rd quarter. Champlain Investment Partners LLC now owns 1,289,350 shares of the company’s stock valued at $220,401,000 after purchasing an additional 283,540 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of Zscaler by 3.2% in the 4th quarter. Bank of New York Mellon Corp now owns 539,113 shares of the company’s stock valued at $97,261,000 after purchasing an additional 16,742 shares in the last quarter. Westfield Capital Management Co. LP raised its stake in shares of Zscaler by 33.8% in the 3rd quarter. Westfield Capital Management Co. LP now owns 399,516 shares of the company’s stock valued at $68,293,000 after purchasing an additional 100,814 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. raised its stake in shares of Zscaler by 11.0% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 380,463 shares of the company’s stock valued at $65,036,000 after purchasing an additional 37,801 shares in the last quarter. 46.45% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ZS has been the topic of several research reports. Guggenheim reiterated a “neutral” rating on shares of Zscaler in a research note on Tuesday, December 3rd. Citigroup reiterated a “buy” rating and set a $240.00 price objective (up previously from $235.00) on shares of Zscaler in a research note on Wednesday. JMP Securities reiterated a “market outperform” rating and set a $240.00 price objective (down previously from $270.00) on shares of Zscaler in a research note on Tuesday, December 3rd. Bank of America upgraded shares of Zscaler from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $215.00 to $240.00 in a research note on Friday. Finally, UBS Group increased their price objective on shares of Zscaler from $250.00 to $260.00 and gave the stock a “buy” rating in a research note on Thursday. Eight investment analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $234.29.

Zscaler Stock Up 3.3 %

ZS stock opened at $208.76 on Monday. Zscaler, Inc. has a 12-month low of $153.45 and a 12-month high of $217.84. The company has a market cap of $32.03 billion, a price-to-earnings ratio of -835.04 and a beta of 0.88. The company has a 50 day moving average of $196.78 and a two-hundred day moving average of $191.64.

Insiders Place Their Bets

In other news, CFO Remo Canessa sold 3,703 shares of the firm’s stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $200.32, for a total transaction of $741,784.96. Following the transaction, the chief financial officer now owns 220,635 shares in the company, valued at approximately $44,197,603.20. This trade represents a 1.65 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Syam Nair sold 3,682 shares of the firm’s stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $200.32, for a total transaction of $737,578.24. Following the transaction, the insider now owns 142,866 shares in the company, valued at $28,618,917.12. This represents a 2.51 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 10,248 shares of company stock worth $2,052,879 in the last quarter. 18.10% of the stock is currently owned by corporate insiders.

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.