Nissay Asset Management Corp Japan ADV Buys 2,141 Shares of Zscaler, Inc. (NASDAQ:ZS)

Nissay Asset Management Corp Japan ADV raised its holdings in Zscaler, Inc. (NASDAQ:ZS - Free Report) by 8.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 26,608 shares of the company's stock after purchasing an additional 2,141 shares during the period. Nissay Asset Management Corp Japan ADV's holdings in Zscaler were worth $4,911,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in ZS. Zweig DiMenna Associates LLC increased its position in Zscaler by 29.8% in the fourth quarter. Zweig DiMenna Associates LLC now owns 77,941 shares of the company's stock worth $14,061,000 after buying an additional 17,900 shares during the period. Baader Bank Aktiengesellschaft increased its position in Zscaler by 30.3% in the fourth quarter. Baader Bank Aktiengesellschaft now owns 8,400 shares of the company's stock worth $1,515,000 after buying an additional 1,952 shares during the period. SYM FINANCIAL Corp acquired a new stake in Zscaler in the fourth quarter worth $303,000. Merit Financial Group LLC acquired a new stake in Zscaler in the fourth quarter worth $787,000. Finally, Kera Capital Partners Inc. acquired a new stake in Zscaler in the fourth quarter worth $1,869,000. 46.45% of the stock is owned by institutional investors and hedge funds.

Zscaler Trading Up 0.4%

ZS stock traded up $1.07 during trading on Monday, hitting $252.57. The company had a trading volume of 2,046,840 shares, compared to its average volume of 2,044,854. The company has a fifty day moving average price of $210.17 and a two-hundred day moving average price of $202.23. The company has a market cap of $39.08 billion, a P/E ratio of -1,010.28 and a beta of 1.14. Zscaler, Inc. has a fifty-two week low of $153.45 and a fifty-two week high of $253.75.

Insider Activity at Zscaler

In other Zscaler news, major shareholder Ajay Mangal sold 190,480 shares of the business's stock in a transaction on 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 transaction, the insider now owns 2,580,210 shares of the company's stock, valued at approximately $517,822,344.90. The trade was a 6.87% 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 this hyperlink. Also, CEO Jagtar Singh Chaudhry sold 2,155 shares of the company's stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $199.15, for a total value of $429,168.25. Following the transaction, the chief executive officer now directly owns 356,414 shares in the company, valued at $70,979,848.10. This trade represents a 0.60% 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 valued at $42,030,790 in the last 90 days. 18.10% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on ZS shares. Cantor Fitzgerald raised Zscaler from a "neutral" rating to an "overweight" rating and raised their price target for the company from $220.00 to $250.00 in a report on Thursday, April 3rd. Citigroup reissued a "buy" rating and set a $240.00 price target (up from $235.00) on shares of Zscaler in a report on Wednesday, March 5th. Robert W. Baird raised their target price on Zscaler from $240.00 to $250.00 and gave the company an "outperform" rating in a research note on Thursday, March 6th. BTIG Research set a $252.00 target price on Zscaler and gave the company a "buy" rating in a research note on Thursday, March 6th. Finally, BNP Paribas raised Zscaler from a "neutral" rating to an "outperform" rating and set a $260.00 target price for the company in a research note on Monday, April 28th. Eight equities research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Zscaler has a consensus rating of "Moderate Buy" and a consensus price target of $238.53.

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.