Raiffeisen Bank International AG Purchases New Stake in Zscaler, Inc. (NASDAQ:ZS)

Raiffeisen Bank International AG purchased a new stake in Zscaler, Inc. (NASDAQ:ZS - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 30,913 shares of the company's stock, valued at approximately $5,661,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Global X Japan Co. Ltd. increased its stake in Zscaler by 127.4% during the 4th quarter. Global X Japan Co. Ltd. now owns 141 shares of the company's stock valued at $25,000 after purchasing an additional 79 shares in the last quarter. Summit Securities Group LLC acquired a new position in shares of Zscaler during the fourth quarter valued at about $27,000. Colonial Trust Co SC bought a new stake in shares of Zscaler during the fourth quarter worth about $28,000. Stonebridge Financial Group LLC acquired a new stake in shares of Zscaler in the 4th quarter worth about $29,000. Finally, Crews Bank & Trust bought a new position in Zscaler in the 4th quarter valued at about $36,000. 46.45% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have recently commented on ZS shares. BTIG Research set a $252.00 price objective on Zscaler and gave the stock a "buy" rating in a research note on Thursday, March 6th. Barclays reissued an "overweight" rating on shares of Zscaler in a research report on Wednesday, March 5th. Stephens began coverage on shares of Zscaler in a report on Tuesday, April 1st. They set an "overweight" rating and a $255.00 price objective on the stock. The Goldman Sachs Group set a $207.00 target price on shares of Zscaler and gave the company a "neutral" rating in a report on Thursday, March 6th. Finally, UBS Group boosted their price target on shares of Zscaler from $250.00 to $260.00 and gave the stock a "buy" rating in a report on Thursday, March 6th. Eight 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 stock. According to MarketBeat, Zscaler presently has an average rating of "Moderate Buy" and a consensus price target of $238.53.

Insiders Place Their Bets

In related news, insider Robert Schlossman sold 2,878 shares of the stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $199.15, for a total value of $573,153.70. Following the transaction, the insider now owns 107,587 shares of the company's stock, valued at $21,425,951.05. This represents a 2.61% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Ajay Mangal sold 190,480 shares of the company'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 completion of the transaction, the insider now owns 2,580,210 shares of the company's stock, valued at $517,822,344.90. The trade was a 6.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 241,771 shares of company stock worth $50,165,040 in the last ninety days. 18.10% of the stock is currently owned by insiders.

Zscaler Stock Down 0.8%

Shares of ZS stock traded down $1.99 on Wednesday, reaching $249.96. The company's stock had a trading volume of 878,302 shares, compared to its average volume of 2,043,409. The company has a market capitalization of $38.68 billion, a P/E ratio of -1,001.62 and a beta of 1.14. Zscaler, Inc. has a 12-month low of $153.45 and a 12-month high of $253.84. The stock's 50 day simple moving average is $212.51 and its 200-day simple moving average is $203.06.

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.