Natixis Makes New $87.78 Million Investment in Zscaler, Inc. (NASDAQ:ZS)

Natixis bought a new position in shares of Zscaler, Inc. (NASDAQ:ZS - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 486,533 shares of the company's stock, valued at approximately $87,775,000. Zscaler makes up about 0.5% of Natixis' investment portfolio, making the stock its 24th largest holding. Natixis owned about 0.32% of Zscaler at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Corebridge Financial Inc. increased its position in Zscaler by 0.5% in the 4th quarter. Corebridge Financial Inc. now owns 11,695 shares of the company's stock valued at $2,110,000 after acquiring an additional 54 shares during the period. Erste Asset Management GmbH raised its stake in shares of 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 purchasing an additional 56 shares during the last quarter. KRS Capital Management LLC grew its position in Zscaler by 1.9% in the 4th 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 during the last quarter. Ironwood Investment Management LLC grew its position in Zscaler by 1.0% in the 4th quarter. Ironwood Investment Management LLC now owns 6,249 shares of the company's stock valued at $1,127,000 after buying an additional 64 shares during the last quarter. Finally, Smartleaf Asset Management LLC raised its position in 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 buying an additional 69 shares during the last quarter. 46.45% of the stock is owned by hedge funds and other institutional investors.

Zscaler Stock Up 5.6 %

Shares of NASDAQ ZS traded up $11.18 during midday trading on Thursday, hitting $211.77. The stock had a trading volume of 1,638,107 shares, compared to its average volume of 1,977,021. The company has a fifty day moving average price of $199.38 and a 200 day moving average price of $196.76. The company has a market capitalization of $32.77 billion, a price-to-earnings ratio of -848.62 and a beta of 1.12. Zscaler, Inc. has a 1-year low of $153.45 and a 1-year high of $217.84.

Insider Buying and Selling at Zscaler

In other news, insider Robert Schlossman sold 2,878 shares of the firm's stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $199.15, for a total transaction of $573,153.70. Following the completion of the sale, the insider now directly owns 107,587 shares in the company, valued at $21,425,951.05. This trade represents a 2.61 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Ajay Mangal sold 190,480 shares of the business's stock in a transaction dated 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 approximately $517,822,344.90. This trade represents a 6.87 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 209,234 shares of company stock valued at $42,030,790 over the last ninety days. Corporate insiders own 18.10% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Robert W. Baird increased their price target on shares of Zscaler from $240.00 to $250.00 and gave the stock an "outperform" rating in a report on Thursday, March 6th. Cantor Fitzgerald raised Zscaler from a "neutral" rating to an "overweight" rating and raised their price target for the company from $220.00 to $250.00 in a report on Thursday, April 3rd. Wells Fargo & Company upped their price objective on Zscaler from $190.00 to $210.00 and gave the stock an "equal weight" rating in a report on Thursday, March 6th. The Goldman Sachs Group set a $207.00 target price on Zscaler and gave the company a "neutral" rating in a report on Thursday, March 6th. Finally, Citigroup reaffirmed a "buy" rating and set a $240.00 price target (up from $235.00) on shares of Zscaler in a research note on Wednesday, March 5th. Nine investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Zscaler has an average rating of "Moderate Buy" and a consensus price target of $234.16.

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.