Oak Associates Ltd. OH Has $3.03 Million Stock Holdings in Zscaler, Inc. (NASDAQ:ZS)

Oak Associates Ltd. OH lifted its stake in shares of Zscaler, Inc. (NASDAQ:ZS - Free Report) by 75.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 16,788 shares of the company's stock after acquiring an additional 7,220 shares during the period. Oak Associates Ltd. OH's holdings in Zscaler were worth $3,029,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. Zweig DiMenna Associates LLC increased its position in Zscaler by 29.8% in the 4th quarter. Zweig DiMenna Associates LLC now owns 77,941 shares of the company's stock valued at $14,061,000 after acquiring an additional 17,900 shares during the period. Baader Bank Aktiengesellschaft grew its holdings in Zscaler by 30.3% during the fourth quarter. Baader Bank Aktiengesellschaft now owns 8,400 shares of the company's stock valued at $1,515,000 after purchasing an additional 1,952 shares during the last quarter. Everence Capital Management Inc. bought a new position in Zscaler in the 4th quarter worth approximately $565,000. SYM FINANCIAL Corp bought a new stake in shares of Zscaler in the fourth quarter valued at about $303,000. Finally, Merit Financial Group LLC bought a new position in shares of Zscaler during the 4th quarter worth approximately $787,000. Institutional investors and hedge funds own 46.45% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have commented on ZS shares. Barclays reiterated an "overweight" rating on shares of Zscaler in a research report on Wednesday, March 5th. Cantor Fitzgerald upgraded Zscaler from a "neutral" rating to an "overweight" rating and lifted their target price for the stock from $220.00 to $250.00 in a research note on Thursday, April 3rd. Bank of America upgraded Zscaler from a "neutral" rating to a "buy" rating and boosted their price target for the company from $215.00 to $240.00 in a research note on Friday, March 7th. Wedbush increased their price target on Zscaler from $230.00 to $240.00 and gave the stock an "outperform" rating in a research report on Thursday, March 6th. Finally, Royal Bank of Canada boosted their price objective on shares of Zscaler from $230.00 to $250.00 and gave the company an "outperform" rating in a research report on Thursday, March 6th. Eight investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $234.94.

Insider Activity at Zscaler

In other Zscaler news, CEO Jagtar Singh Chaudhry sold 2,155 shares of Zscaler stock in a transaction that occurred 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 owns 356,414 shares in the company, valued at approximately $70,979,848.10. The trade was a 0.60 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Remo Canessa sold 3,721 shares of the business's stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $199.15, for a total transaction of $741,037.15. Following the sale, the chief financial officer now directly owns 213,702 shares in the company, valued at approximately $42,558,753.30. This trade represents a 1.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 209,234 shares of company stock valued at $42,030,790 over the last three months. 18.10% of the stock is owned by insiders.

Zscaler Stock Performance

Shares of ZS stock traded up $0.07 during trading hours on Wednesday, reaching $204.71. The company had a trading volume of 716,589 shares, compared to its average volume of 1,971,469. The company has a market capitalization of $31.67 billion, a P/E ratio of -818.84 and a beta of 1.12. The stock's fifty day simple moving average is $200.78 and its 200 day simple moving average is $195.74. Zscaler, Inc. has a twelve month low of $153.45 and a twelve month high of $217.84.

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.