Korea Investment CORP boosted its position in Zscaler, Inc. (NASDAQ:ZS - Free Report) by 144.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 136,160 shares of the company's stock after purchasing an additional 80,416 shares during the period. Korea Investment CORP owned 0.09% of Zscaler worth $24,565,000 at the end of the most recent quarter.
Other hedge funds have also recently made changes to their positions in the company. Fred Alger Management LLC increased 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 purchasing an additional 9,542 shares in the last quarter. Nomura Asset Management Co. Ltd. lifted its position in shares of Zscaler by 11.0% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 380,463 shares of the company's stock valued at $65,036,000 after acquiring an additional 37,801 shares during the period. Zweig DiMenna Associates LLC boosted its position in shares of Zscaler by 29.8% during the 4th 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 in the last quarter. Baader Bank Aktiengesellschaft raised its stake in Zscaler by 30.3% during the 4th quarter. Baader Bank Aktiengesellschaft now owns 8,400 shares of the company's stock worth $1,515,000 after buying an additional 1,952 shares during the period. Finally, Benjamin Edwards Inc. acquired a new stake in Zscaler in the third quarter valued at approximately $449,000. 46.45% of the stock is owned by institutional investors and hedge funds.
Insider Activity at Zscaler
In other Zscaler news, CEO Jagtar Singh Chaudhry sold 2,155 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 356,414 shares in the company, valued at approximately $70,979,848.10. This trade represents a 0.60 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Robert Schlossman sold 2,878 shares of Zscaler stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $199.15, for a total transaction of $573,153.70. Following the transaction, the insider now owns 107,587 shares in the company, valued at $21,425,951.05. This represents a 2.61 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 199,234 shares of company stock worth $39,970,790 over the last quarter. Corporate insiders own 18.10% of the company's stock.
Zscaler Price Performance
NASDAQ:ZS traded up $5.16 during mid-day trading on Wednesday, reaching $206.23. 562,575 shares of the company's stock traded hands, compared to its average volume of 1,900,581. Zscaler, Inc. has a 12-month low of $153.45 and a 12-month high of $217.84. The company has a 50 day moving average price of $202.49 and a 200-day moving average price of $194.34. The firm has a market capitalization of $31.91 billion, a price-to-earnings ratio of -821.58 and a beta of 0.88.
Analyst Ratings Changes
A number of equities analysts recently issued reports on ZS shares. The Goldman Sachs Group set a $207.00 target price on Zscaler and gave the stock a "neutral" rating in a report on Thursday, March 6th. BTIG Research set a $252.00 price objective on shares of Zscaler and gave the company a "buy" rating in a research note on Thursday, March 6th. BMO Capital Markets boosted their target price on shares of Zscaler from $222.00 to $233.00 and gave the stock an "outperform" rating in a research report on Thursday, March 6th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Zscaler from $200.00 to $225.00 and gave the company a "buy" rating in a research report on Tuesday, December 3rd. Finally, Stephens began coverage on Zscaler in a report on Tuesday. They set an "overweight" rating and a $255.00 price objective for the company. Nine research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $232.35.
Get Our Latest Stock Analysis on Zscaler
About Zscaler
(
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.
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