Siemens Fonds Invest GmbH Takes Position in Zscaler, Inc. (NASDAQ:ZS)

Siemens Fonds Invest GmbH purchased a new stake in Zscaler, Inc. (NASDAQ:ZS - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 10,259 shares of the company's stock, valued at approximately $2,047,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Geode Capital Management LLC grew its position in shares of Zscaler by 2.0% during the fourth quarter. Geode Capital Management LLC now owns 1,658,406 shares of the company's stock worth $298,710,000 after buying an additional 32,545 shares in the last quarter. Pictet Asset Management Holding SA lifted its stake in Zscaler by 25.8% during the fourth quarter. Pictet Asset Management Holding SA now owns 1,618,176 shares of the company's stock worth $291,935,000 after purchasing an additional 332,307 shares during the last quarter. AQR Capital Management LLC lifted its stake in Zscaler by 120.1% during the fourth quarter. AQR Capital Management LLC now owns 964,031 shares of the company's stock worth $173,921,000 after purchasing an additional 525,956 shares during the last quarter. Artisan Partners Limited Partnership lifted its stake in Zscaler by 30.9% during the fourth quarter. Artisan Partners Limited Partnership now owns 868,795 shares of the company's stock worth $156,739,000 after purchasing an additional 204,996 shares during the last quarter. Finally, DnB Asset Management AS lifted its stake in Zscaler by 66.8% during the fourth quarter. DnB Asset Management AS now owns 667,383 shares of the company's stock worth $120,403,000 after purchasing an additional 267,162 shares during the last quarter. Hedge funds and other institutional investors own 46.45% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on ZS shares. Royal Bank of Canada boosted their target price on Zscaler from $230.00 to $250.00 and gave the company an "outperform" rating in a report on Thursday, March 6th. BTIG Research set a $252.00 price objective on Zscaler and gave the stock a "buy" rating in a report on Thursday, March 6th. Scotiabank reaffirmed a "sector outperform" rating and set a $242.00 price objective (up previously from $225.00) on shares of Zscaler in a report on Wednesday, March 5th. Morgan Stanley dropped their price objective on Zscaler from $205.00 to $200.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 16th. Finally, Cantor Fitzgerald raised Zscaler from a "neutral" rating to an "overweight" rating and upped their target price for the company from $220.00 to $250.00 in a report on Thursday, April 3rd. Eight 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's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $238.53.

Insider Activity at Zscaler

In other Zscaler news, major shareholder Ajay Mangal sold 190,480 shares of the company's stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $200.69, for a total value of $38,227,431.20. Following the sale, the insider now owns 2,580,210 shares in the company, valued at approximately $517,822,344.90. This represents a 6.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Andrew William Fraser Brown sold 10,000 shares of the company's stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $206.00, for a total transaction of $2,060,000.00. Following the completion of the transaction, the director now owns 27,216 shares in the company, valued at approximately $5,606,496. This represents a 26.87% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 241,771 shares of company stock worth $50,165,040 over the last 90 days. 18.10% of the stock is owned by company insiders.

Zscaler Price Performance

Zscaler stock traded down $0.62 during mid-day trading on Tuesday, hitting $251.95. The company's stock had a trading volume of 1,979,630 shares, compared to its average volume of 2,047,825. The business has a 50 day moving average price of $211.27 and a 200-day moving average price of $202.72. Zscaler, Inc. has a 12 month low of $153.45 and a 12 month high of $253.72. The stock has a market cap of $38.98 billion, a price-to-earnings ratio of -1,007.80 and a beta of 1.14.

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.