Royal London Asset Management Ltd. Grows Position in Zscaler, Inc. (NASDAQ:ZS)

Royal London Asset Management Ltd. raised its position in shares of Zscaler, Inc. (NASDAQ:ZS - Free Report) by 30.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 43,952 shares of the company's stock after buying an additional 10,358 shares during the quarter. Royal London Asset Management Ltd.'s holdings in Zscaler were worth $7,929,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Erste Asset Management GmbH increased its stake in Zscaler by 0.6% during the 4th 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 in the last quarter. KRS Capital Management LLC grew its holdings in shares of Zscaler by 1.9% during 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 last quarter. Ironwood Investment Management LLC increased its position in shares of Zscaler by 1.0% during the fourth quarter. Ironwood Investment Management LLC now owns 6,249 shares of the company's stock valued at $1,127,000 after acquiring an additional 64 shares in the last quarter. Smartleaf Asset Management LLC raised its holdings in Zscaler by 16.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 482 shares of the company's stock worth $88,000 after acquiring an additional 69 shares during the last quarter. Finally, GAMMA Investing LLC lifted its position in Zscaler by 18.5% in the 4th quarter. GAMMA Investing LLC now owns 448 shares of the company's stock valued at $81,000 after acquiring an additional 70 shares in the last quarter. Institutional investors own 46.45% of the company's stock.

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Zscaler Stock Down 1.0 %

Shares of NASDAQ:ZS traded down $2.10 during trading on Thursday, reaching $209.45. 1,624,746 shares of the company's stock traded hands, compared to its average volume of 1,865,838. Zscaler, Inc. has a fifty-two week low of $153.45 and a fifty-two week high of $217.84. The company has a 50-day simple moving average of $201.26 and a 200-day simple moving average of $192.96. The firm has a market cap of $32.41 billion, a PE ratio of -837.80 and a beta of 0.88.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on ZS shares. Wells Fargo & Company increased their price objective on Zscaler from $190.00 to $210.00 and gave the company an "equal weight" rating in a research report on Thursday, March 6th. Mizuho raised their price target on shares of Zscaler from $210.00 to $225.00 and gave the company a "neutral" rating in a report on Wednesday, February 12th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Zscaler from $200.00 to $225.00 and gave the stock a "buy" rating in a research note on Tuesday, December 3rd. UBS Group raised their target price on shares of Zscaler from $250.00 to $260.00 and gave the stock a "buy" rating in a report on Thursday, March 6th. Finally, Canaccord Genuity Group lifted their target price on shares of Zscaler from $220.00 to $230.00 and gave the stock a "buy" rating in a research report on Tuesday, December 3rd. Nine equities research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $232.68.

Insiders Place Their Bets

In related news, CEO Jagtar Singh Chaudhry sold 2,155 shares of the firm's stock in a transaction dated 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 of the company's stock, valued at approximately $70,979,848.10. This trade represents a 0.60 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Ajay Mangal sold 190,480 shares of Zscaler 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 sale, the insider now owns 2,580,210 shares in the company, 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 199,234 shares of company stock worth $39,970,790. 18.10% of the stock is owned by corporate insiders.

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.