KLP Kapitalforvaltning AS Buys New Stake in Zscaler, Inc. (NASDAQ:ZS)

KLP Kapitalforvaltning AS bought a new stake in shares of Zscaler, Inc. (NASDAQ:ZS - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 32,400 shares of the company's stock, valued at approximately $5,845,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Raymond James Financial Inc. purchased a new stake in Zscaler during the 4th quarter valued at $28,072,000. Trivest Advisors Ltd increased its position in Zscaler by 95.3% during the fourth quarter. Trivest Advisors Ltd now owns 250,000 shares of the company's stock valued at $45,102,000 after acquiring an additional 122,000 shares during the last quarter. Assenagon Asset Management S.A. raised its stake in shares of Zscaler by 59.7% in the fourth quarter. Assenagon Asset Management S.A. now owns 190,794 shares of the company's stock valued at $34,421,000 after acquiring an additional 71,297 shares during the period. Thematics Asset Management lifted its holdings in shares of Zscaler by 88.5% in the 3rd quarter. Thematics Asset Management now owns 147,000 shares of the company's stock worth $25,128,000 after acquiring an additional 69,000 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in Zscaler by 3.9% during the 3rd quarter. Geode Capital Management LLC now owns 1,625,861 shares of the company's stock valued at $277,327,000 after purchasing an additional 60,414 shares during the last quarter. 46.45% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have issued reports on ZS shares. Sanford C. Bernstein restated an "outperform" rating and set a $244.00 target price on shares of Zscaler in a research report on Thursday, March 6th. Citigroup restated a "buy" rating and set a $240.00 price objective (up previously from $235.00) on shares of Zscaler in a report on Wednesday, March 5th. Scotiabank reiterated a "sector outperform" rating and issued a $242.00 target price (up previously from $225.00) on shares of Zscaler in a research note on Wednesday, March 5th. Piper Sandler boosted their target price on shares of Zscaler from $215.00 to $235.00 and gave the company an "overweight" rating in a research note on Tuesday, December 3rd. Finally, Robert W. Baird raised their price target on shares of Zscaler from $240.00 to $250.00 and gave the stock an "outperform" rating in a research note on Thursday, March 6th. Nine analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. According to data from MarketBeat, Zscaler presently has a consensus rating of "Moderate Buy" and a consensus target price of $232.68.

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Zscaler Trading Down 1.9 %

Shares of NASDAQ ZS traded down $3.90 during midday trading on Friday, reaching $205.55. The company had a trading volume of 931,473 shares, compared to its average volume of 1,890,788. The stock has a market cap of $31.80 billion, a P/E ratio of -821.24 and a beta of 0.88. Zscaler, Inc. has a 1 year low of $153.45 and a 1 year high of $217.84. The business's 50-day simple moving average is $201.69 and its 200 day simple moving average is $193.07.

Insider Activity

In other news, CEO Jagtar Singh Chaudhry sold 2,155 shares of the company's stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $199.15, for a total value of $429,168.25. Following the sale, the chief executive officer now directly owns 356,414 shares of the company's stock, valued at $70,979,848.10. This represents a 0.60 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Ajay Mangal sold 190,480 shares of the stock in a transaction on Monday, March 17th. The stock was sold at an average price of $200.69, for a total transaction of $38,227,431.20. Following the completion of the sale, the insider now owns 2,580,210 shares in the company, valued at $517,822,344.90. The trade was a 6.87 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 199,234 shares of company stock valued at $39,970,790. Company insiders own 18.10% of the company's stock.

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.