DnB Asset Management AS Increases Stake in Zscaler, Inc. (NASDAQ:ZS)

DnB Asset Management AS grew its position in shares of Zscaler, Inc. (NASDAQ:ZS - Free Report) by 66.8% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 667,383 shares of the company's stock after acquiring an additional 267,162 shares during the period. DnB Asset Management AS owned about 0.43% of Zscaler worth $120,403,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Geode Capital Management LLC raised its position in shares of Zscaler by 3.9% in the 3rd quarter. Geode Capital Management LLC now owns 1,625,861 shares of the company's stock worth $277,327,000 after purchasing an additional 60,414 shares during the last quarter. Pictet Asset Management Holding SA boosted its holdings in shares of Zscaler by 25.8% during 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 acquiring an additional 332,307 shares during the last quarter. Artisan Partners Limited Partnership raised its position in Zscaler by 30.9% in the fourth quarter. Artisan Partners Limited Partnership now owns 868,795 shares of the company's stock worth $156,739,000 after acquiring an additional 204,996 shares during the period. Bank of New York Mellon Corp raised its stake in shares of Zscaler by 3.2% in the fourth quarter. Bank of New York Mellon Corp now owns 539,113 shares of the company's stock worth $97,261,000 after buying an additional 16,742 shares during the period. Finally, Nomura Asset Management Co. Ltd. lifted its position in shares of Zscaler by 11.0% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 380,463 shares of the company's stock valued at $65,036,000 after buying an additional 37,801 shares in the last quarter. Institutional investors own 46.45% of the company's stock.

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Zscaler Stock Performance

ZS traded up $0.64 during trading on Tuesday, hitting $199.06. The stock had a trading volume of 664,117 shares, compared to its average volume of 1,898,647. The stock has a 50 day simple moving average of $202.30 and a two-hundred day simple moving average of $194.12. Zscaler, Inc. has a twelve month low of $153.45 and a twelve month high of $217.84. The company has a market capitalization of $30.80 billion, a PE ratio of -796.09 and a beta of 0.88.

Wall Street Analysts Forecast Growth

A number of research firms have commented on ZS. Morgan Stanley assumed coverage on shares of Zscaler in a research note on Tuesday, March 18th. They set an "equal weight" rating on the stock. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Zscaler from $200.00 to $225.00 and gave the company a "buy" rating in a research note on Tuesday, December 3rd. Wedbush lifted their price objective on shares of Zscaler from $230.00 to $240.00 and gave the company an "outperform" rating in a research report on Thursday, March 6th. JPMorgan Chase & Co. boosted their price target on shares of Zscaler from $240.00 to $250.00 and gave the stock an "overweight" rating in a research report on Thursday, March 6th. Finally, Scotiabank restated a "sector outperform" rating and issued a $242.00 target price (up from $225.00) on shares of Zscaler in a report on Wednesday, March 5th. Nine equities research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company. According to MarketBeat, Zscaler presently has a consensus rating of "Moderate Buy" and a consensus target price of $233.22.

Insider Transactions at Zscaler

In other Zscaler news, major shareholder Ajay Mangal sold 190,480 shares of the firm'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 completion of the transaction, the insider now directly owns 2,580,210 shares of the company's stock, valued at approximately $517,822,344.90. This trade represents a 6.87 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Remo Canessa sold 3,721 shares of the business'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 value of $741,037.15. Following the completion of the transaction, the chief financial officer now directly owns 213,702 shares of the company's stock, valued at $42,558,753.30. The trade was a 1.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 199,234 shares of company stock valued at $39,970,790 in the last quarter. 18.10% of the stock is currently owned by corporate insiders.

Zscaler Company 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.