Zscaler, Inc. (NASDAQ:ZS) Shares Bought by Baird Financial Group Inc.

Baird Financial Group Inc. increased its stake in Zscaler, Inc. (NASDAQ:ZS - Free Report) by 30.1% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 31,260 shares of the company's stock after acquiring an additional 7,237 shares during the quarter. Baird Financial Group Inc.'s holdings in Zscaler were worth $5,640,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of ZS. Zweig DiMenna Associates LLC lifted its stake in Zscaler by 29.8% during the fourth quarter. Zweig DiMenna Associates LLC now owns 77,941 shares of the company's stock valued at $14,061,000 after buying an additional 17,900 shares in the last quarter. Baader Bank Aktiengesellschaft raised its holdings in shares of 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 acquiring an additional 1,952 shares during the period. SYM FINANCIAL Corp acquired a new position in Zscaler in the 4th quarter worth approximately $303,000. Merit Financial Group LLC acquired a new position in Zscaler in the 4th quarter worth approximately $787,000. Finally, Kera Capital Partners Inc. purchased a new position in Zscaler during the 4th quarter worth approximately $1,869,000. 46.45% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on ZS. Robert W. Baird raised their target price on Zscaler from $240.00 to $250.00 and gave the stock an "outperform" rating in a research report on Thursday, March 6th. Stephens started coverage on Zscaler in a research note on Tuesday, April 1st. They set an "overweight" rating and a $255.00 target price on the stock. Cantor Fitzgerald raised shares of Zscaler from a "neutral" rating to an "overweight" rating and increased their price target for the stock from $220.00 to $250.00 in a research report on Thursday, April 3rd. Barclays reaffirmed an "overweight" rating on shares of Zscaler in a research report on Wednesday, March 5th. Finally, BTIG Research set a $252.00 target price on shares of Zscaler and gave the stock a "buy" rating in a research report on Thursday, March 6th. Eight analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Zscaler has a consensus rating of "Moderate Buy" and an average price target of $236.66.

Insider Buying and Selling at Zscaler

In other Zscaler news, major shareholder Ajay Mangal sold 190,480 shares of Zscaler 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 completion of the transaction, the insider now owns 2,580,210 shares in the company, valued at approximately $517,822,344.90. The trade was a 6.87 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Robert Schlossman sold 2,878 shares of the stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $199.15, for a total transaction of $573,153.70. Following the sale, the insider now directly owns 107,587 shares in the company, valued at approximately $21,425,951.05. This represents a 2.61 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 209,234 shares of company stock valued at $42,030,790. 18.10% of the stock is currently owned by corporate insiders.

Zscaler Stock Performance

Shares of Zscaler stock opened at $233.06 on Friday. The firm has a market cap of $36.06 billion, a P/E ratio of -932.24 and a beta of 1.14. The firm's 50-day simple moving average is $205.63 and its 200-day simple moving average is $199.90. Zscaler, Inc. has a twelve month low of $153.45 and a twelve month high of $235.67.

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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