Harvest Fund Management Co. Ltd increased its stake in Zscaler, Inc. (NASDAQ:ZS - Free Report) by 29.7% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 9,029 shares of the company's stock after buying an additional 2,067 shares during the period. Harvest Fund Management Co. Ltd's holdings in Zscaler were worth $1,580,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ZS. Fred Alger Management LLC raised its holdings in Zscaler by 1,151.0% in the third quarter. Fred Alger Management LLC now owns 10,371 shares of the company's stock worth $1,773,000 after buying an additional 9,542 shares during the last quarter. Nomura Asset Management Co. Ltd. increased its holdings 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 worth $65,036,000 after purchasing an additional 37,801 shares in the last quarter. Zweig DiMenna Associates LLC raised its stake in shares of Zscaler by 29.8% in the fourth quarter. Zweig DiMenna Associates LLC now owns 77,941 shares of the company's stock worth $14,061,000 after purchasing an additional 17,900 shares during the last quarter. Baader Bank Aktiengesellschaft boosted its position in shares of Zscaler by 30.3% during the fourth quarter. Baader Bank Aktiengesellschaft now owns 8,400 shares of the company's stock valued at $1,515,000 after buying an additional 1,952 shares during the last quarter. Finally, Benjamin Edwards Inc. bought a new stake in Zscaler in the 3rd quarter worth about $449,000. Institutional investors own 46.45% of the company's stock.
Analysts Set New Price Targets
A number of research firms have recently issued reports on ZS. BMO Capital Markets raised their price target on Zscaler from $222.00 to $233.00 and gave the stock an "outperform" rating in a research note on Thursday, March 6th. JPMorgan Chase & Co. boosted their price target on shares of Zscaler from $240.00 to $250.00 and gave the stock an "overweight" rating in a research note on Thursday, March 6th. Piper Sandler lifted their price objective on shares of Zscaler from $215.00 to $235.00 and gave the stock an "overweight" rating in a research note on Tuesday, December 3rd. KeyCorp boosted their price objective on Zscaler from $245.00 to $250.00 and gave the company an "overweight" rating in a report on Tuesday, December 3rd. Finally, Citigroup restated a "buy" rating and issued a $240.00 target price (up from $235.00) on shares of Zscaler in a research note on Wednesday, March 5th. Nine equities research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $232.68.
Read Our Latest Stock Analysis on Zscaler
Zscaler Stock Performance
NASDAQ ZS traded up $4.67 during mid-day trading on Monday, reaching $209.87. 1,573,763 shares of the stock were exchanged, compared to its average volume of 1,861,799. The stock has a market capitalization of $32.47 billion, a PE ratio of -839.48 and a beta of 0.88. The business's fifty day simple moving average is $199.74 and its 200 day simple moving average is $192.08. Zscaler, Inc. has a 1-year low of $153.45 and a 1-year high of $217.84.
Insider Transactions at Zscaler
In other news, major shareholder Ajay Mangal sold 190,480 shares of the business's stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $200.69, for a total value of $38,227,431.20. Following the completion of the sale, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jagtar Singh Chaudhry sold 2,155 shares of the stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $199.15, for a total transaction of $429,168.25. Following the transaction, the chief executive officer now directly owns 356,414 shares in the company, valued at $70,979,848.10. The trade was a 0.60 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 199,234 shares of company stock valued at $39,970,790 over the last quarter. Company insiders own 18.10% of the company's stock.
Zscaler Profile
(
Free Report)
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.
Read More
Before you consider Zscaler, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Zscaler wasn't on the list.
While Zscaler currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering where to start (or end) with AI stocks? These 10 simple stocks can help investors build long-term wealth as artificial intelligence continues to grow into the future.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
