BI Asset Management Fondsmaeglerselskab A S Has $983,000 Position in Zscaler, Inc. (NASDAQ:ZS)

BI Asset Management Fondsmaeglerselskab A S reduced its holdings in Zscaler, Inc. (NASDAQ:ZS - Free Report) by 82.2% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 5,448 shares of the company's stock after selling 25,207 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S's holdings in Zscaler were worth $983,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of ZS. Wilmington Savings Fund Society FSB bought a new position in Zscaler during the 3rd quarter worth $38,000. Tidal Investments LLC grew its position in shares of Zscaler by 278.9% during the third quarter. Tidal Investments LLC now owns 34,098 shares of the company's stock worth $5,829,000 after acquiring an additional 25,099 shares during the last quarter. Versant Capital Management Inc increased its holdings in shares of Zscaler by 136.8% in the 4th quarter. Versant Capital Management Inc now owns 180 shares of the company's stock worth $32,000 after acquiring an additional 104 shares during the period. GAMMA Investing LLC lifted its position in Zscaler by 18.5% in the 4th quarter. GAMMA Investing LLC now owns 448 shares of the company's stock valued at $81,000 after purchasing an additional 70 shares during the last quarter. Finally, Modus Advisors LLC acquired a new position in Zscaler during the 4th quarter valued at about $36,000. 46.45% of the stock is owned by institutional investors and hedge funds.

Zscaler Price Performance

ZS traded up $2.01 on Tuesday, reaching $221.87. 701,145 shares of the company traded hands, compared to its average volume of 1,991,470. The company has a market cap of $34.33 billion, a price-to-earnings ratio of -885.07 and a beta of 1.12. The stock's 50 day moving average price is $199.41 and its 200-day moving average price is $197.54. Zscaler, Inc. has a 52-week low of $153.45 and a 52-week high of $222.99.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on ZS shares. BTIG Research set a $252.00 price target on Zscaler and gave the company a "buy" rating in a report on Thursday, March 6th. Scotiabank restated a "sector outperform" rating and set a $242.00 price target (up from $225.00) on shares of Zscaler in a research report on Wednesday, March 5th. Wells Fargo & Company increased their price objective on shares of Zscaler from $190.00 to $210.00 and gave the company an "equal weight" rating in a report on Thursday, March 6th. Roth Capital began coverage on Zscaler in a report on Wednesday, April 23rd. They set a "neutral" rating and a $215.00 target price on the stock. Finally, Cantor Fitzgerald raised Zscaler from a "neutral" rating to an "overweight" rating and increased their price target for the company from $220.00 to $250.00 in a research note on Thursday, April 3rd. Eight equities research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $236.66.

Insider Activity

In other news, major shareholder Ajay Mangal sold 190,480 shares of the stock in a transaction 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 owns 2,580,210 shares in the company, valued at $517,822,344.90. This represents a 6.87 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Andrew William Fraser Brown sold 10,000 shares of the firm's stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $206.00, for a total transaction of $2,060,000.00. Following the transaction, the director now owns 27,216 shares in the company, valued at $5,606,496. This represents a 26.87 % 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 worth $42,030,790 in the last ninety days. Corporate insiders own 18.10% of the company's stock.

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.