Hel Ved Capital Management Ltd Grows Stock Holdings in Zscaler, Inc. (NASDAQ:ZS)

Hel Ved Capital Management Ltd raised its position in shares of Zscaler, Inc. (NASDAQ:ZS - Free Report) by 291.7% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 10,380 shares of the company's stock after purchasing an additional 7,730 shares during the quarter. Hel Ved Capital Management Ltd's holdings in Zscaler were worth $1,873,000 at the end of the most recent reporting period.

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

Zscaler Trading Down 5.2 %

Shares of Zscaler stock traded down $10.44 on Thursday, hitting $191.68. The stock had a trading volume of 1,931,003 shares, compared to its average volume of 1,962,389. The stock has a market cap of $29.66 billion, a price-to-earnings ratio of -762.96 and a beta of 1.12. Zscaler, Inc. has a 52-week low of $153.45 and a 52-week high of $217.84. The company's 50 day moving average price is $201.09 and its 200 day moving average price is $194.98.

Wall Street Analysts Forecast Growth

ZS has been the subject of several research analyst reports. Needham & Company LLC reaffirmed a "buy" rating and set a $240.00 target price on shares of Zscaler in a research note on Wednesday, March 5th. Cantor Fitzgerald raised Zscaler from a "neutral" rating to an "overweight" rating and increased their target price for the company from $220.00 to $250.00 in a report on Thursday, April 3rd. Rosenblatt Securities raised Zscaler from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $190.00 to $235.00 in a research note on Thursday, March 6th. Bank of America upgraded Zscaler from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $215.00 to $240.00 in a research report on Friday, March 7th. Finally, Mizuho upped their target price on shares of Zscaler from $210.00 to $225.00 and gave the stock a "neutral" rating in a report on Wednesday, February 12th. Eight analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $234.94.

Insiders Place Their Bets

In other news, major shareholder Ajay Mangal sold 190,480 shares of the firm's stock in a transaction 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 owns 2,580,210 shares in the company, valued at $517,822,344.90. This trade represents a 6.87 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Jagtar Singh Chaudhry sold 2,155 shares of Zscaler 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 owns 356,414 shares of the company's stock, valued at approximately $70,979,848.10. The trade was a 0.60 % 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 valued at $42,030,790. Insiders own 18.10% of the company's stock.

Zscaler Company Profile

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.