Trivest Advisors Ltd Grows Stock Position in Zscaler, Inc. (NASDAQ:ZS)

Trivest Advisors Ltd grew its position in shares of Zscaler, Inc. (NASDAQ:ZS) by 95.3% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 250,000 shares of the company’s stock after purchasing an additional 122,000 shares during the period. Zscaler makes up about 2.0% of Trivest Advisors Ltd’s investment portfolio, making the stock its 18th largest position. Trivest Advisors Ltd owned approximately 0.16% of Zscaler worth $45,102,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the company. OneDigital Investment Advisors LLC boosted its holdings in Zscaler by 50.9% in the third quarter. OneDigital Investment Advisors LLC now owns 2,913 shares of the company’s stock valued at $498,000 after purchasing an additional 983 shares during the last quarter. Empowered Funds LLC boosted its stake in shares of Zscaler by 3.5% during the 3rd quarter. Empowered Funds LLC now owns 19,578 shares of the company’s stock valued at $3,347,000 after buying an additional 665 shares during the last quarter. Swiss National Bank grew its position in shares of Zscaler by 1.1% during the third quarter. Swiss National Bank now owns 269,200 shares of the company’s stock worth $46,017,000 after buying an additional 2,900 shares in the last quarter. LMR Partners LLP acquired a new stake in Zscaler in the third quarter valued at $1,787,000. Finally, Aviance Capital Partners LLC boosted its stake in Zscaler by 6.7% during the 3rd quarter. Aviance Capital Partners LLC now owns 8,000 shares of the company’s stock valued at $1,368,000 after acquiring an additional 500 shares during the last quarter. 46.45% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on ZS shares. Needham & Company LLC restated a “buy” rating and issued a $240.00 target price on shares of Zscaler in a research note on Wednesday, March 5th. Piper Sandler increased their price target on Zscaler from $215.00 to $235.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 3rd. Wells Fargo & Company boosted 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. Loop Capital cut their target price on Zscaler from $200.00 to $195.00 and set a “hold” rating on the stock in a research note on Tuesday, December 3rd. Finally, JMP Securities restated a “market outperform” rating and set a $240.00 price target (down previously from $270.00) on shares of Zscaler in a research report on Tuesday, December 3rd. Nine investment analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $233.06.

Zscaler Stock Performance

Zscaler stock opened at $201.59 on Wednesday. The firm’s 50 day moving average price is $198.77 and its two-hundred day moving average price is $191.64. The firm has a market cap of $31.19 billion, a PE ratio of -806.36 and a beta of 0.88. Zscaler, Inc. has a twelve month low of $153.45 and a twelve month high of $217.84.

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.