Zscaler, Inc. (NASDAQ:ZS) Shares Acquired by Northern Trust Corp

Northern Trust Corp increased its position in Zscaler, Inc. (NASDAQ:ZS - Free Report) by 23.1% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 638,042 shares of the company's stock after purchasing an additional 119,536 shares during the period. Northern Trust Corp owned 0.42% of Zscaler worth $115,109,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ZS. Corebridge Financial Inc. lifted its stake in shares of Zscaler by 0.5% in 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 Zscaler by 0.6% during the fourth quarter. Erste Asset Management GmbH now owns 9,780 shares of the company's stock worth $1,805,000 after purchasing an additional 56 shares in the last quarter. KRS Capital Management LLC lifted its position in Zscaler by 1.9% in the fourth quarter. KRS Capital Management LLC now owns 3,261 shares of the company's stock worth $588,000 after purchasing an additional 60 shares during the period. Ironwood Investment Management LLC boosted its stake in Zscaler by 1.0% during the 4th quarter. Ironwood Investment Management LLC now owns 6,249 shares of the company's stock valued at $1,127,000 after purchasing an additional 64 shares in the last quarter. Finally, Smartleaf Asset Management LLC increased its position in shares of Zscaler by 16.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 482 shares of the company's stock valued at $88,000 after purchasing an additional 69 shares during the period. 46.45% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on ZS. Barclays reaffirmed an "overweight" rating on shares of Zscaler in a research note on Wednesday, March 5th. Cantor Fitzgerald upgraded shares of Zscaler from a "neutral" rating to an "overweight" rating and raised their price objective for the company from $220.00 to $250.00 in a research report on Thursday, April 3rd. Stephens initiated coverage on shares of Zscaler in a report on Tuesday, April 1st. They issued an "overweight" rating and a $255.00 target price on the stock. Citigroup restated a "buy" rating and set a $240.00 target price (up from $235.00) on shares of Zscaler in a report on Wednesday, March 5th. Finally, BTIG Research set a $252.00 price target on Zscaler and gave the company a "buy" rating in a report on Thursday, March 6th. Eight analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $236.66.

Zscaler Price Performance

NASDAQ ZS opened at $230.47 on Friday. Zscaler, Inc. has a fifty-two week low of $153.45 and a fifty-two week high of $231.93. The stock's 50-day moving average is $201.65 and its two-hundred day moving average is $198.42. The firm has a market cap of $35.66 billion, a P/E ratio of -921.88 and a beta of 1.14.

Insider Activity at Zscaler

In other Zscaler news, CEO Jagtar Singh Chaudhry sold 2,155 shares of the firm's stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $199.15, for a total value of $429,168.25. Following the sale, the chief executive officer now owns 356,414 shares of the company's stock, valued at $70,979,848.10. This trade represents a 0.60 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, major shareholder Ajay Mangal sold 190,480 shares of the company's stock in a transaction that occurred 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. This trade represents a 6.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 209,234 shares of company stock valued at $42,030,790. Corporate insiders own 18.10% of the company's stock.

About Zscaler

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.

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