Zscaler, Inc. (NASDAQ:ZS) Shares Bought by E Fund Management Co. Ltd.

E Fund Management Co. Ltd. raised its stake in Zscaler, Inc. (NASDAQ:ZS) by 28.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,818 shares of the company’s stock after acquiring an additional 408 shares during the quarter. E Fund Management Co. Ltd.’s holdings in Zscaler were worth $328,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the stock. Champlain Investment Partners LLC grew its position in shares of Zscaler by 28.2% in the third quarter. Champlain Investment Partners LLC now owns 1,289,350 shares of the company’s stock valued at $220,401,000 after purchasing an additional 283,540 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of Zscaler in the fourth quarter valued at $28,072,000. Westfield Capital Management Co. LP grew its position in shares of Zscaler by 33.8% in the third quarter. Westfield Capital Management Co. LP now owns 399,516 shares of the company’s stock valued at $68,293,000 after purchasing an additional 100,814 shares during the period. Assenagon Asset Management S.A. grew its position in shares of Zscaler by 59.7% in the fourth quarter. Assenagon Asset Management S.A. now owns 190,794 shares of the company’s stock valued at $34,421,000 after purchasing an additional 71,297 shares during the period. Finally, Thematics Asset Management grew its position in shares of Zscaler by 88.5% in the third quarter. Thematics Asset Management now owns 147,000 shares of the company’s stock valued at $25,128,000 after purchasing an additional 69,000 shares during the period. 46.45% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ZS has been the subject of a number of recent analyst reports. Canaccord Genuity Group lifted their price objective on Zscaler from $220.00 to $230.00 and gave the company a “buy” rating in a research report on Tuesday, December 3rd. Scotiabank reissued 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. Rosenblatt Securities raised Zscaler from a “neutral” rating to a “buy” rating and boosted their price target for the company from $190.00 to $235.00 in a research report on Thursday. Citigroup reissued a “buy” rating and set a $240.00 price target (up previously from $235.00) on shares of Zscaler in a research report on Wednesday. Finally, Piper Sandler boosted their price target on Zscaler from $215.00 to $235.00 and gave the company an “overweight” rating in a research report on Tuesday, December 3rd. Eight analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $234.29.

Insider Buying and Selling at Zscaler

In other news, CFO Remo Canessa sold 3,703 shares of the company’s stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $200.32, for a total transaction of $741,784.96. Following the completion of the transaction, the chief financial officer now directly owns 220,635 shares of the company’s stock, valued at approximately $44,197,603.20. This represents a 1.65 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jagtar Singh Chaudhry sold 2,863 shares of the company’s stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $200.32, for a total value of $573,516.16. Following the transaction, the chief executive officer now directly owns 358,569 shares of the company’s stock, valued at $71,828,542.08. This trade represents a 0.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 10,248 shares of company stock worth $2,052,879 over the last quarter. 18.10% of the stock is owned by corporate insiders.

Zscaler Stock Up 3.3 %

Shares of NASDAQ ZS opened at $208.76 on Friday. The stock’s 50 day moving average price is $196.78 and its two-hundred day moving average price is $191.70. Zscaler, Inc. has a 52-week low of $153.45 and a 52-week high of $217.84. The stock has a market capitalization of $32.03 billion, a P/E ratio of -835.04 and a beta of 0.88.

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.