27,382 Shares in Zscaler, Inc. (NASDAQ:ZS) Purchased by Resona Asset Management Co. Ltd.

Resona Asset Management Co. Ltd. bought a new position in shares of Zscaler, Inc. (NASDAQ:ZS - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 27,382 shares of the company's stock, valued at approximately $4,956,000.

Several other large investors have also made changes to their positions in the company. Corebridge Financial Inc. boosted its stake in Zscaler by 0.5% in the fourth 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 last quarter. Erste Asset Management GmbH increased its holdings in Zscaler by 0.6% in the fourth quarter. Erste Asset Management GmbH now owns 9,780 shares of the company's stock valued at $1,805,000 after purchasing an additional 56 shares during the last quarter. KRS Capital Management LLC lifted its stake in Zscaler by 1.9% in the fourth 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 period. Ironwood Investment Management LLC lifted its stake in Zscaler by 1.0% in the fourth 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 period. Finally, Smartleaf Asset Management LLC boosted its holdings in Zscaler by 16.7% during the fourth 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. Institutional investors and hedge funds own 46.45% of the company's stock.

Insider Transactions at Zscaler

In related news, Director Andrew William Fraser Brown sold 10,000 shares of the business's stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $206.00, for a total value of $2,060,000.00. Following the transaction, the director now owns 27,216 shares in the company, valued at $5,606,496. The trade was a 26.87 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Ajay Mangal sold 190,480 shares of the 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 sale, the insider now owns 2,580,210 shares of the company's stock, valued at approximately $517,822,344.90. The trade was a 6.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 209,234 shares of company stock worth $42,030,790. Company insiders own 18.10% of the company's stock.

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Zscaler Stock Up 1.4 %

Zscaler stock traded up $2.72 during trading hours on Friday, hitting $198.08. The stock had a trading volume of 2,313,728 shares, compared to its average volume of 1,976,077. The business's 50 day simple moving average is $200.88 and its 200-day simple moving average is $195.31. Zscaler, Inc. has a one year low of $153.45 and a one year high of $217.84. The stock has a market cap of $30.65 billion, a price-to-earnings ratio of -792.32 and a beta of 1.12.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on ZS. BTIG Research set a $252.00 price target on shares of Zscaler and gave the stock a "buy" rating in a research report on Thursday, March 6th. Sanford C. Bernstein reissued an "outperform" rating and issued a $244.00 target price on shares of Zscaler in a research note on Thursday, March 6th. Scotiabank reaffirmed a "sector outperform" rating and set a $242.00 price target (up previously from $225.00) on shares of Zscaler in a research report on Wednesday, March 5th. Bank of America raised Zscaler from a "neutral" rating to a "buy" rating and increased their target price for the stock from $215.00 to $240.00 in a research note on Friday, March 7th. Finally, Citigroup reaffirmed a "buy" rating and issued a $240.00 price target (up previously from $235.00) on shares of Zscaler in a research note on Wednesday, March 5th. Eight investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $234.94.

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.