Norges Bank Purchases New Stake in Zscaler, Inc. (NASDAQ:ZS)

Norges Bank bought a new position in Zscaler, Inc. (NASDAQ:ZS) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 178,250 shares of the company’s stock, valued at approximately $32,158,000. Norges Bank owned about 0.12% of Zscaler as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Corebridge Financial Inc. raised its position in shares of Zscaler by 0.5% during the 4th quarter. Corebridge Financial Inc. now owns 11,695 shares of the company’s stock worth $2,110,000 after purchasing an additional 54 shares during the period. Erste Asset Management GmbH boosted its stake in Zscaler by 0.6% during the 4th quarter. Erste Asset Management GmbH now owns 9,780 shares of the company’s stock valued at $1,805,000 after purchasing an additional 56 shares in the last quarter. KRS Capital Management LLC boosted its stake in Zscaler by 1.9% during the fourth quarter. KRS Capital Management LLC now owns 3,261 shares of the company’s stock valued at $588,000 after buying an additional 60 shares in the last quarter. Ironwood Investment Management LLC boosted its position in shares of 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 boosted its stake in shares of Zscaler by 16.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 482 shares of the company’s stock worth $88,000 after acquiring an additional 69 shares in the last quarter. Institutional investors and hedge funds own 46.45% of the company’s stock.

Zscaler Trading Down 9.1 %

Shares of NASDAQ:ZS opened at $174.67 on Friday. Zscaler, Inc. has a 1-year low of $153.45 and a 1-year high of $217.84. The business’s 50 day moving average is $202.38 and its 200-day moving average is $194.60. The firm has a market capitalization of $27.03 billion, a PE ratio of -698.68 and a beta of 1.12.

Analyst Ratings Changes

A number of equities analysts recently weighed in on ZS shares. Wells Fargo & Company increased their price target on Zscaler from $190.00 to $210.00 and gave the company an “equal weight” rating in a research report on Thursday, March 6th. BTIG Research set a $252.00 price target on shares of Zscaler and gave the company a “buy” rating in a research report on Thursday, March 6th. UBS Group lifted their price objective on shares of Zscaler from $250.00 to $260.00 and gave the stock a “buy” rating in a research report on Thursday, March 6th. Cantor Fitzgerald raised Zscaler from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $220.00 to $250.00 in a research report on Thursday. Finally, Stephens began coverage on Zscaler in a research report on Tuesday, April 1st. They set an “overweight” rating and a $255.00 price target on the stock. 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. According to MarketBeat, Zscaler presently has a consensus rating of “Moderate Buy” and an average target price of $234.94.

Insider Transactions at Zscaler

In other Zscaler news, Director Andrew William Fraser Brown sold 10,000 shares of the business’s stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $206.00, for a total value of $2,060,000.00. Following the transaction, the director now owns 27,216 shares of the company’s stock, valued at approximately $5,606,496. The trade was a 26.87 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Ajay Mangal sold 190,480 shares of the firm’s stock in a transaction on 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 completion of the sale, 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 three months, insiders sold 209,234 shares of company stock valued at $42,030,790. Company insiders own 18.10% of the company’s stock.

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.