Geode Capital Management LLC Buys 32,545 Shares of Zscaler, Inc. (NASDAQ:ZS)

Geode Capital Management LLC grew its stake in Zscaler, Inc. (NASDAQ:ZS - Free Report) by 2.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,658,406 shares of the company's stock after buying an additional 32,545 shares during the period. Geode Capital Management LLC owned approximately 1.08% of Zscaler worth $298,710,000 as of its most recent SEC filing.

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

Insiders Place Their Bets

In related news, CEO Jagtar Singh Chaudhry sold 2,155 shares of Zscaler stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $199.15, for a total value of $429,168.25. Following the sale, the chief executive officer now 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 transaction, the insider now directly owns 2,580,210 shares of the company's stock, valued at approximately $517,822,344.90. This trade represents a 6.87 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 209,234 shares of company stock worth $42,030,790. Company insiders own 18.10% of the company's stock.

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Analysts Set New Price Targets

Several research analysts recently commented on the company. Jefferies Financial Group reduced their target price on Zscaler from $245.00 to $240.00 and set a "buy" rating for the company in a research report on Monday, March 31st. Barclays restated an "overweight" rating on shares of Zscaler in a research note on Wednesday, March 5th. Stephens began coverage on Zscaler in a report on Tuesday, April 1st. They issued an "overweight" rating and a $255.00 target price for the company. BTIG Research set a $252.00 price objective on Zscaler and gave the stock a "buy" rating in a research note on Thursday, March 6th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Zscaler from $240.00 to $250.00 and gave the company an "overweight" rating in a report on Thursday, March 6th. Eight investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $234.94.

Zscaler Trading Down 4.3 %

Shares of NASDAQ ZS traded down $8.62 during mid-day trading on Thursday, reaching $193.50. 1,012,383 shares of the company's stock were exchanged, compared to its average volume of 1,958,697. The business has a fifty day simple moving average of $201.09 and a 200 day simple moving average of $194.98. Zscaler, Inc. has a twelve month low of $153.45 and a twelve month high of $217.84. The firm has a market capitalization of $29.94 billion, a price-to-earnings ratio of -773.68 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.