Freedom Investment Management Inc. Has $874,000 Stock Holdings in Zscaler, Inc. (NASDAQ:ZS)

Freedom Investment Management Inc. boosted its holdings in shares of Zscaler, Inc. (NASDAQ:ZS - Free Report) by 57.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,845 shares of the company's stock after buying an additional 1,770 shares during the period. Freedom Investment Management Inc.'s holdings in Zscaler were worth $874,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Corebridge Financial Inc. grew its position in shares of Zscaler by 0.5% during the 4th quarter. Corebridge Financial Inc. now owns 11,695 shares of the company's stock valued at $2,110,000 after buying an additional 54 shares during the last quarter. Erste Asset Management GmbH boosted its stake in Zscaler by 0.6% in the fourth quarter. Erste Asset Management GmbH now owns 9,780 shares of the company's stock valued at $1,805,000 after acquiring an additional 56 shares during the period. KRS Capital Management LLC grew its holdings in shares of Zscaler by 1.9% during the fourth quarter. KRS Capital Management LLC now owns 3,261 shares of the company's stock valued at $588,000 after purchasing an additional 60 shares during the last quarter. Ironwood Investment Management LLC raised its position in shares of Zscaler by 1.0% during the 4th quarter. Ironwood Investment Management LLC now owns 6,249 shares of the company's stock worth $1,127,000 after purchasing an additional 64 shares during the period. Finally, Smartleaf Asset Management LLC lifted its holdings in shares of Zscaler by 16.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 482 shares of the company's stock worth $88,000 after purchasing an additional 69 shares during the last quarter. 46.45% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Zscaler

In related news, major shareholder Ajay Mangal sold 190,480 shares of the business'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 transaction, the insider now 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 sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Jagtar Singh Chaudhry sold 2,155 shares of the stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $199.15, for a total transaction of $429,168.25. Following the completion of the sale, the chief executive officer now directly owns 356,414 shares of the company's stock, valued at approximately $70,979,848.10. This trade represents a 0.60 % 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 valued at $42,030,790. Corporate insiders own 18.10% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Wedbush increased their target price on Zscaler from $230.00 to $240.00 and gave the stock an "outperform" rating in a research report on Thursday, March 6th. Roth Capital assumed coverage on shares of Zscaler in a research report on Wednesday. They issued a "neutral" rating and a $215.00 price objective on the stock. Stephens assumed coverage on shares of Zscaler in a research report on Tuesday, April 1st. They issued an "overweight" rating and a $255.00 target price for the company. Mizuho lifted their price target on Zscaler from $210.00 to $225.00 and gave the company a "neutral" rating in a report on Wednesday, February 12th. Finally, JPMorgan Chase & Co. increased their price objective on Zscaler from $240.00 to $250.00 and gave the stock an "overweight" rating in a report on Thursday, March 6th. Nine research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $234.16.

Zscaler Trading Up 2.1 %

Zscaler stock traded up $4.07 during mid-day trading on Wednesday, hitting $200.59. 2,185,621 shares of the company's stock were exchanged, compared to its average volume of 1,978,686. Zscaler, Inc. has a 1-year low of $153.45 and a 1-year high of $217.84. The stock has a 50 day moving average of $199.62 and a two-hundred day moving average of $196.74. The stock has a market cap of $31.04 billion, a P/E ratio of -802.36 and a beta of 1.12.

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.