GF Fund Management CO. LTD. Buys Shares of 29,078 Zscaler, Inc. (NASDAQ:ZS)

GF Fund Management CO. LTD. bought a new stake in Zscaler, Inc. (NASDAQ:ZS - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 29,078 shares of the company's stock, valued at approximately $5,246,000.

Several other hedge funds have also recently added to or reduced their stakes in ZS. Corebridge Financial Inc. boosted its stake in shares of Zscaler by 0.5% during the 4th quarter. Corebridge Financial Inc. now owns 11,695 shares of the company's stock worth $2,110,000 after acquiring an additional 54 shares during the period. Erste Asset Management GmbH raised its holdings in shares of Zscaler by 0.6% during the 4th quarter. Erste Asset Management GmbH now owns 9,780 shares of the company's stock worth $1,805,000 after buying an additional 56 shares in the last quarter. Ironwood Investment Management LLC grew its position in Zscaler by 1.0% during the 4th quarter. Ironwood Investment Management LLC now owns 6,249 shares of the company's stock worth $1,127,000 after acquiring an additional 64 shares during the last quarter. Smartleaf Asset Management LLC grew its position in Zscaler by 16.7% during 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 last quarter. Finally, Avior Wealth Management LLC grew its position in shares of Zscaler by 50.7% in the 4th quarter. Avior Wealth Management LLC now owns 214 shares of the company's stock valued at $39,000 after buying an additional 72 shares during the last quarter. Institutional investors and hedge funds own 46.45% of the company's stock.

Zscaler Price Performance

Shares of ZS stock traded down $3.65 during trading hours on Wednesday, reaching $253.65. 2,220,409 shares of the company traded hands, compared to its average volume of 2,049,629. Zscaler, Inc. has a 12-month low of $153.45 and a 12-month high of $259.40. The company has a market cap of $39.25 billion, a P/E ratio of -1,014.60 and a beta of 1.14. The firm has a 50-day moving average price of $217.66 and a 200 day moving average price of $205.21.

Analyst Ratings Changes

Several analysts have recently commented on the company. Stifel Nicolaus increased their price objective on Zscaler from $235.00 to $270.00 and gave the stock a "buy" rating in a research note on Friday, May 16th. UBS Group raised their price target on Zscaler from $250.00 to $260.00 and gave the company a "buy" rating in a research report on Thursday, March 6th. Barclays reissued an "overweight" rating on shares of Zscaler in a research note on Wednesday, March 5th. BTIG Research set a $252.00 target price on shares of Zscaler and gave the company a "buy" rating in a report on Thursday, March 6th. Finally, Cantor Fitzgerald lifted their target price on Zscaler from $250.00 to $275.00 and gave the company an "overweight" rating in a research report on Tuesday. Eight investment analysts have rated the stock with a hold rating and twenty-six have assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $240.09.

Insiders Place Their Bets

In other news, insider Robert Schlossman sold 3,590 shares of the stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $250.00, for a total value of $897,500.00. Following the transaction, the insider now directly owns 100,230 shares of the company's stock, valued at approximately $25,057,500. This represents a 3.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Ajay Mangal sold 190,480 shares of the firm's stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $200.69, for a total value of $38,227,431.20. Following the sale, the insider now directly owns 2,580,210 shares in the company, valued at approximately $517,822,344.90. This trade represents a 6.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 241,771 shares of company stock valued at $50,165,040 in the last quarter. 18.10% of the stock is currently owned by 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.