Zscaler, Inc. (NASDAQ:ZS) Shares Bought by DnB Asset Management AS

DnB Asset Management AS increased its stake in Zscaler, Inc. (NASDAQ:ZS) by 66.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 667,383 shares of the company’s stock after purchasing an additional 267,162 shares during the quarter. DnB Asset Management AS owned about 0.43% of Zscaler worth $120,403,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of ZS. PNC Financial Services Group Inc. raised its stake in shares of Zscaler by 4.4% in the 3rd quarter. PNC Financial Services Group Inc. now owns 7,184 shares of the company’s stock worth $1,228,000 after buying an additional 306 shares in the last quarter. Commerce Bank lifted its holdings in Zscaler by 8.9% in the 3rd quarter. Commerce Bank now owns 1,564 shares of the company’s stock valued at $267,000 after acquiring an additional 128 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Zscaler by 4.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 355,070 shares of the company’s stock valued at $60,696,000 after purchasing an additional 16,634 shares in the last quarter. Cerity Partners LLC raised its holdings in shares of Zscaler by 73.5% in the 3rd quarter. Cerity Partners LLC now owns 10,562 shares of the company’s stock worth $1,806,000 after purchasing an additional 4,476 shares in the last quarter. Finally, Pitcairn Co. bought a new stake in shares of Zscaler in the 3rd quarter worth approximately $204,000. Institutional investors and hedge funds own 46.45% of the company’s stock.

Insider Activity

In other Zscaler news, CEO Jagtar Singh Chaudhry sold 2,155 shares of the business’s stock in a transaction on Tuesday, March 18th. The shares were 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. The trade was a 0.60 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Remo Canessa sold 3,721 shares of the firm’s stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $199.15, for a total transaction of $741,037.15. Following the transaction, the chief financial officer now directly owns 213,702 shares of the company’s stock, valued at $42,558,753.30. The trade was a 1.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 199,234 shares of company stock valued at $39,970,790. Insiders own 18.10% of the company’s stock.

Zscaler Price Performance

NASDAQ:ZS opened at $209.45 on Friday. The stock has a market cap of $32.41 billion, a P/E ratio of -837.80 and a beta of 0.88. The company has a fifty day moving average price of $201.69 and a 200 day moving average price of $193.07. Zscaler, Inc. has a one year low of $153.45 and a one year high of $217.84.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Guggenheim reaffirmed a “neutral” rating on shares of Zscaler in a report on Tuesday, December 3rd. Citigroup reiterated a “buy” rating and issued a $240.00 price target (up previously from $235.00) on shares of Zscaler in a research report on Wednesday, March 5th. Oppenheimer boosted their price objective on Zscaler from $230.00 to $250.00 and gave the stock an “outperform” rating in a report on Tuesday, December 3rd. Loop Capital decreased their target price on shares of Zscaler from $200.00 to $195.00 and set a “hold” rating for the company in a report on Tuesday, December 3rd. Finally, Barclays reissued an “overweight” rating on shares of Zscaler in a research report on Wednesday, March 5th. Nine equities research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $232.68.

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.