Zscaler, Inc. (NASDAQ:ZS) Shares Acquired by Dynamic Technology Lab Private Ltd

Dynamic Technology Lab Private Ltd raised its position in Zscaler, Inc. (NASDAQ:ZS - Free Report) by 305.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,423 shares of the company's stock after acquiring an additional 4,839 shares during the period. Dynamic Technology Lab Private Ltd's holdings in Zscaler were worth $1,159,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also made changes to their positions in the company. The Manufacturers Life Insurance Company raised its holdings in shares of Zscaler by 9.1% in the third quarter. The Manufacturers Life Insurance Company now owns 6,969 shares of the company's stock worth $1,191,000 after buying an additional 581 shares during the last quarter. Captrust Financial Advisors increased its position in shares of Zscaler by 11.2% in the 3rd quarter. Captrust Financial Advisors now owns 5,024 shares of the company's stock valued at $859,000 after acquiring an additional 504 shares during the period. Benjamin Edwards Inc. purchased a new position in Zscaler in the 3rd quarter worth $449,000. HighTower Advisors LLC lifted its position in Zscaler by 4.1% during the 3rd quarter. HighTower Advisors LLC now owns 64,574 shares of the company's stock worth $11,064,000 after acquiring an additional 2,520 shares during the period. Finally, Janus Henderson Group PLC grew its stake in Zscaler by 9.0% during the 3rd quarter. Janus Henderson Group PLC now owns 9,444 shares of the company's stock valued at $1,614,000 after purchasing an additional 782 shares during the last quarter. 46.45% of the stock is owned by institutional investors and hedge funds.

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Insider Buying and Selling

In related news, major shareholder Ajay Mangal sold 190,480 shares of the company's stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $200.69, for a total value 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 $517,822,344.90. This represents a 6.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Andrew William Fraser Brown sold 10,000 shares of the firm's stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $206.00, for a total transaction of $2,060,000.00. Following the sale, the director now directly owns 27,216 shares in the company, valued at approximately $5,606,496. The trade was a 26.87 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 209,234 shares of company stock worth $42,030,790 over the last 90 days. 18.10% of the stock is owned by insiders.

Zscaler Trading Down 0.7 %

NASDAQ:ZS traded down $1.33 during midday trading on Friday, reaching $194.03. The company had a trading volume of 578,595 shares, compared to its average volume of 1,966,003. The stock's fifty day simple moving average is $201.00 and its 200-day simple moving average is $195.13. Zscaler, Inc. has a 12-month low of $153.45 and a 12-month high of $217.84. The firm has a market capitalization of $30.02 billion, a price-to-earnings ratio of -779.66 and a beta of 1.12.

Analysts Set New Price Targets

A number of research firms recently commented on ZS. Wells Fargo & Company lifted 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. UBS Group upped their price objective on shares of Zscaler from $250.00 to $260.00 and gave the company a "buy" 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 research report on Wednesday, March 5th. Scotiabank reaffirmed a "sector outperform" rating and set a $242.00 price target (up from $225.00) on shares of Zscaler in a research report on Wednesday, March 5th. Finally, Sanford C. Bernstein restated an "outperform" rating and issued a $244.00 target price on shares of Zscaler in a research note on Thursday, March 6th. Eight research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Zscaler has a consensus rating of "Moderate Buy" and a consensus target price of $234.94.

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.