Pictet Asset Management Holding SA Raises Stock Holdings in Zscaler, Inc. (NASDAQ:ZS)

Pictet Asset Management Holding SA boosted its position in Zscaler, Inc. (NASDAQ:ZS - Free Report) by 25.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,618,176 shares of the company's stock after purchasing an additional 332,307 shares during the period. Pictet Asset Management Holding SA owned about 1.05% of Zscaler worth $291,935,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of Zscaler in the fourth quarter valued at approximately $32,158,000. NEOS Investment Management LLC boosted its position in shares of Zscaler by 15.5% during the 4th quarter. NEOS Investment Management LLC now owns 9,209 shares of the company's stock worth $1,661,000 after purchasing an additional 1,238 shares in the last quarter. Sava Infond d.o.o. acquired a new position in shares of Zscaler during the 4th quarter worth $61,000. Artisan Partners Limited Partnership increased its holdings in shares of Zscaler by 30.9% in the 4th quarter. Artisan Partners Limited Partnership now owns 868,795 shares of the company's stock valued at $156,739,000 after purchasing an additional 204,996 shares in the last quarter. Finally, Korea Investment CORP lifted its stake in shares of Zscaler by 144.3% in the fourth quarter. Korea Investment CORP now owns 136,160 shares of the company's stock valued at $24,565,000 after purchasing an additional 80,416 shares during the period. Hedge funds and other institutional investors own 46.45% of the company's stock.

Insider Activity at Zscaler

In other news, insider Robert Schlossman sold 2,878 shares of the stock in a transaction dated 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 sale, the insider now owns 107,587 shares in the company, valued at approximately $21,425,951.05. This trade represents a 2.61 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jagtar Singh Chaudhry sold 2,155 shares of the business's stock in a transaction that occurred on Tuesday, March 18th. The stock was 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 $70,979,848.10. This trade represents a 0.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 199,234 shares of company stock worth $39,970,790. Company insiders own 18.10% of the company's stock.

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Zscaler Stock Up 0.3 %

Shares of NASDAQ ZS traded up $0.56 during midday trading on Tuesday, hitting $198.98. The stock had a trading volume of 664,117 shares, compared to its average volume of 1,898,600. Zscaler, Inc. has a 1-year low of $153.45 and a 1-year high of $217.84. The company has a market capitalization of $30.79 billion, a price-to-earnings ratio of -796.09 and a beta of 0.88. The company has a fifty day moving average price of $202.30 and a 200 day moving average price of $194.12.

Wall Street Analysts Forecast Growth

ZS has been the subject of a number of research analyst reports. Citigroup reaffirmed a "buy" rating and issued a $240.00 target price (up from $235.00) on shares of Zscaler in a report on Wednesday, March 5th. Guggenheim reaffirmed a "neutral" rating on shares of Zscaler in a report on Tuesday, December 3rd. Needham & Company LLC reissued a "buy" rating and issued a $240.00 target price on shares of Zscaler in a report on Wednesday, March 5th. JPMorgan Chase & Co. lifted their price target on Zscaler from $240.00 to $250.00 and gave the stock an "overweight" rating in a research note on Thursday, March 6th. Finally, Barclays reiterated an "overweight" rating on shares of Zscaler in a research report on Wednesday, March 5th. Nine analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company's stock. According to MarketBeat.com, Zscaler presently has an average rating of "Moderate Buy" and a consensus target price of $233.22.

Zscaler 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.