Westpac Banking Corp lifted its holdings in Zscaler, Inc. (NASDAQ:ZS - Free Report) by 763.5% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 4,784 shares of the company's stock after purchasing an additional 4,230 shares during the period. Westpac Banking Corp's holdings in Zscaler were worth $863,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Pictet Asset Management Holding SA boosted its holdings in shares of Zscaler by 25.8% in the 4th quarter. Pictet Asset Management Holding SA now owns 1,618,176 shares of the company's stock valued at $291,935,000 after buying an additional 332,307 shares in the last quarter. DnB Asset Management AS boosted its stake in Zscaler by 66.8% in the fourth quarter. DnB Asset Management AS now owns 667,383 shares of the company's stock valued at $120,403,000 after acquiring an additional 267,162 shares in the last quarter. Artisan Partners Limited Partnership lifted its holdings in shares of Zscaler by 30.9% during 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 during the last quarter. Norges Bank purchased a new stake in Zscaler in the fourth quarter valued at about $32,158,000. Finally, Raymond James Financial Inc. acquired a new stake in Zscaler in the fourth quarter worth about $28,072,000. 46.45% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
Several equities analysts recently commented on the stock. BTIG Research set a $252.00 target price on shares of Zscaler and gave the stock a "buy" rating in a research note on Thursday, March 6th. Robert W. Baird lifted their price objective on shares of Zscaler from $240.00 to $250.00 and gave the stock an "outperform" rating in a research note 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 research report 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. Finally, BMO Capital Markets raised their price objective on Zscaler from $222.00 to $233.00 and gave the stock an "outperform" rating in a research note on Thursday, March 6th. Eight research 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. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $234.94.
View Our Latest Report on ZS
Zscaler Stock Performance
Shares of Zscaler stock traded down $9.68 on Thursday, reaching $192.44. The company had a trading volume of 1,414,796 shares, compared to its average volume of 1,960,572. The firm's 50 day moving average price is $201.09 and its two-hundred day moving average price is $194.98. Zscaler, Inc. has a 52-week low of $153.45 and a 52-week high of $217.84. The firm has a market cap of $29.78 billion, a PE ratio of -769.86 and a beta of 1.12.
Insider Buying and Selling at Zscaler
In other news, Director Andrew William Fraser Brown sold 10,000 shares of the business's stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $206.00, for a total transaction of $2,060,000.00. Following the completion of the transaction, the director now directly owns 27,216 shares of the company's stock, valued at approximately $5,606,496. The trade was a 26.87 % decrease in their ownership of the stock. 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 the business's stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $200.69, for a total transaction of $38,227,431.20. Following the transaction, the insider now owns 2,580,210 shares of the company's stock, valued at $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 quarter. 18.10% of the stock is owned by company insiders.
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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