Xponance Inc. Purchases 1,295 Shares of Zscaler, Inc. (NASDAQ:ZS)

Xponance Inc. grew its holdings in shares of Zscaler, Inc. (NASDAQ:ZS - Free Report) by 8.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 17,127 shares of the company's stock after purchasing an additional 1,295 shares during the quarter. Xponance Inc.'s holdings in Zscaler were worth $3,090,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of the business. Erste Asset Management GmbH boosted its position in Zscaler by 0.6% during the fourth quarter. Erste Asset Management GmbH now owns 9,780 shares of the company's stock worth $1,805,000 after purchasing an additional 56 shares during the period. KRS Capital Management LLC boosted its holdings in shares of Zscaler by 1.9% during the 4th quarter. KRS Capital Management LLC now owns 3,261 shares of the company's stock worth $588,000 after buying an additional 60 shares during the period. Ironwood Investment Management LLC grew its stake in Zscaler by 1.0% in the 4th 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 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 period. Finally, GAMMA Investing LLC raised its holdings in Zscaler by 18.5% in the 4th quarter. GAMMA Investing LLC now owns 448 shares of the company's stock worth $81,000 after acquiring an additional 70 shares during the period. Institutional investors and hedge funds own 46.45% of the company's stock.

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Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. KeyCorp raised their price target on Zscaler from $245.00 to $250.00 and gave the company an "overweight" rating in a research report on Tuesday, December 3rd. Loop Capital lowered their target price on Zscaler from $200.00 to $195.00 and set a "hold" rating on the stock in a report on Tuesday, December 3rd. Bank of America upgraded Zscaler from a "neutral" rating to a "buy" rating and upped their price target for the stock from $215.00 to $240.00 in a report on Friday, March 7th. Royal Bank of Canada raised their price objective on shares of Zscaler from $230.00 to $250.00 and gave the stock an "outperform" rating in a research note on Thursday, March 6th. Finally, Canaccord Genuity Group upped their target price on shares of Zscaler from $220.00 to $230.00 and gave the company a "buy" rating in a research note on Tuesday, December 3rd. Nine equities research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $232.68.

Zscaler Stock Up 2.8 %

NASDAQ:ZS traded up $5.86 on Tuesday, reaching $215.73. The stock had a trading volume of 2,310,903 shares, compared to its average volume of 1,861,749. The company has a market capitalization of $33.38 billion, a P/E ratio of -862.92 and a beta of 0.88. Zscaler, Inc. has a 1-year low of $153.45 and a 1-year high of $217.84. The stock has a fifty day moving average price of $200.20 and a 200-day moving average price of $192.41.

Insider Transactions at Zscaler

In other news, major shareholder Ajay Mangal sold 190,480 shares of the company's stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $200.69, for a total transaction of $38,227,431.20. Following the transaction, the insider now directly owns 2,580,210 shares in the company, valued at approximately $517,822,344.90. This represents a 6.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Robert Schlossman sold 2,878 shares of the firm's stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $199.15, for a total transaction of $573,153.70. Following the completion of the sale, the insider now directly owns 107,587 shares of the company's stock, valued at approximately $21,425,951.05. This represents a 2.61 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 199,234 shares of company stock valued at $39,970,790 in the last three months. 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.