OVERSEA CHINESE BANKING Corp Ltd bought a new stake in Zscaler, Inc. (NASDAQ:ZS - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 2,191 shares of the company's stock, valued at approximately $404,000.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ZS. Geode Capital Management LLC raised its position in shares of Zscaler by 3.9% in the third quarter. Geode Capital Management LLC now owns 1,625,861 shares of the company's stock worth $277,327,000 after acquiring an additional 60,414 shares during the period. Champlain Investment Partners LLC boosted its position in shares of Zscaler by 28.2% during the 3rd quarter. Champlain Investment Partners LLC now owns 1,289,350 shares of the company's stock valued at $220,401,000 after acquiring an additional 283,540 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in Zscaler by 3.2% in the 4th quarter. Bank of New York Mellon Corp now owns 539,113 shares of the company's stock valued at $97,261,000 after purchasing an additional 16,742 shares during the last quarter. Westfield Capital Management Co. LP boosted its holdings in Zscaler by 33.8% in the 3rd quarter. Westfield Capital Management Co. LP now owns 399,516 shares of the company's stock valued at $68,293,000 after purchasing an additional 100,814 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. grew its stake 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 valued at $65,036,000 after buying an additional 37,801 shares during the period. Hedge funds and other institutional investors own 46.45% of the company's stock.
Zscaler Price Performance
Shares of NASDAQ:ZS traded up $5.86 on Tuesday, reaching $215.73. The company's stock had a trading volume of 2,310,903 shares, compared to its average volume of 1,861,749. Zscaler, Inc. has a 52-week low of $153.45 and a 52-week high of $217.84. The stock has a market capitalization of $33.38 billion, a P/E ratio of -862.92 and a beta of 0.88. The stock's 50-day moving average is $200.20 and its two-hundred day moving average is $192.41.
Insider Transactions at Zscaler
In other news, insider Robert Schlossman sold 2,878 shares of the firm's stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $199.15, for a total value of $573,153.70. Following the completion of the transaction, the insider now 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 filing with the SEC, which is available through the SEC website. Also, CFO Remo Canessa sold 3,721 shares of the business'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 $741,037.15. Following the completion of the sale, the chief financial officer now owns 213,702 shares in the company, valued at $42,558,753.30. This represents a 1.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 199,234 shares of company stock valued at $39,970,790. Corporate insiders own 18.10% of the company's stock.
Analyst Ratings Changes
ZS has been the subject of several analyst reports. Oppenheimer increased their price objective on Zscaler from $230.00 to $250.00 and gave the stock an "outperform" rating in a research report on Tuesday, December 3rd. Guggenheim reiterated a "neutral" rating on shares of Zscaler in a report on Tuesday, December 3rd. BMO Capital Markets upped their target price on shares of Zscaler from $222.00 to $233.00 and gave the company an "outperform" rating in a research report on Thursday, March 6th. JMP Securities reiterated a "market outperform" rating and set a $240.00 price target (down from $270.00) on shares of Zscaler in a research report on Tuesday, December 3rd. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on shares of Zscaler from $200.00 to $225.00 and gave the stock a "buy" rating in a report on Tuesday, December 3rd. Nine investment analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $232.68.
View Our Latest Report on ZS
Zscaler Company Profile
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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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