First National Bank of Hutchinson Grows Holdings in Zscaler, Inc. (NASDAQ:ZS)

First National Bank of Hutchinson raised its position in Zscaler, Inc. (NASDAQ:ZS) by 3.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,132 shares of the company’s stock after buying an additional 90 shares during the period. First National Bank of Hutchinson’s holdings in Zscaler were worth $565,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ZS. Erste Asset Management GmbH raised its holdings in shares of 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 during the period. KRS Capital Management LLC raised 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 worth $588,000 after acquiring an additional 60 shares during the period. Ironwood Investment Management LLC raised its stake in Zscaler by 1.0% during the fourth quarter. Ironwood Investment Management LLC now owns 6,249 shares of the company’s stock worth $1,127,000 after acquiring an additional 64 shares during the period. Smartleaf Asset Management LLC lifted its holdings in Zscaler by 16.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 482 shares of the company’s stock worth $88,000 after acquiring an additional 69 shares during the last quarter. Finally, GAMMA Investing LLC boosted its stake in Zscaler by 18.5% in the fourth quarter. GAMMA Investing LLC now owns 448 shares of the company’s stock valued at $81,000 after acquiring an additional 70 shares during the period. 46.45% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently commented on ZS. BMO Capital Markets upped their price target on shares of Zscaler from $222.00 to $233.00 and gave the stock an “outperform” rating in a research report on Thursday, March 6th. Piper Sandler boosted their price objective on Zscaler from $215.00 to $235.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 3rd. Needham & Company LLC reissued a “buy” rating and issued a $240.00 price target on shares of Zscaler in a research note on Wednesday, March 5th. Morgan Stanley initiated coverage on shares of Zscaler in a research note on Tuesday. They set an “equal weight” rating on the stock. Finally, Oppenheimer increased their target price on shares of Zscaler from $230.00 to $250.00 and gave the company an “outperform” rating in a research report on Tuesday, December 3rd. Nine analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $232.68.

Zscaler Trading Up 1.2 %

Shares of NASDAQ:ZS opened at $203.95 on Thursday. The company has a 50-day moving average price of $199.11 and a 200-day moving average price of $191.72. The company has a market cap of $31.56 billion, a price-to-earnings ratio of -815.80 and a beta of 0.88. Zscaler, Inc. has a 12 month low of $153.45 and a 12 month high of $217.84.

Insider Buying and Selling at Zscaler

In other Zscaler news, major shareholder Ajay Mangal sold 190,480 shares of the firm’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 completion of the sale, the insider now directly owns 2,580,210 shares in the company, valued at $517,822,344.90. This trade represents a 6.87 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 18.10% of the stock is currently owned by corporate insiders.

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.