NEOS Investment Management LLC Purchases 1,238 Shares of Zscaler, Inc. (NASDAQ:ZS)

NEOS Investment Management LLC boosted its position in Zscaler, Inc. (NASDAQ:ZS) by 15.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 9,209 shares of the company’s stock after acquiring an additional 1,238 shares during the period. NEOS Investment Management LLC’s holdings in Zscaler were worth $1,661,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ZS. Charles Schwab Investment Management Inc. boosted its position in shares of Zscaler by 4.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 355,070 shares of the company’s stock worth $60,696,000 after purchasing an additional 16,634 shares during the last quarter. Cerity Partners LLC boosted its holdings in Zscaler by 73.5% during the third quarter. Cerity Partners LLC now owns 10,562 shares of the company’s stock worth $1,806,000 after buying an additional 4,476 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in shares of Zscaler by 9.1% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 6,969 shares of the company’s stock worth $1,191,000 after buying an additional 581 shares during the period. D.A. Davidson & CO. increased its stake in shares of Zscaler by 27.0% in the 3rd quarter. D.A. Davidson & CO. now owns 1,936 shares of the company’s stock valued at $331,000 after acquiring an additional 411 shares during the last quarter. Finally, Townsquare Capital LLC raised its position in shares of Zscaler by 236.2% in the 3rd quarter. Townsquare Capital LLC now owns 4,983 shares of the company’s stock valued at $852,000 after acquiring an additional 3,501 shares during the period. 46.45% of the stock is owned by institutional investors.

Analyst Ratings Changes

ZS has been the subject of several recent analyst reports. Wells Fargo & Company upped their target price on shares of Zscaler from $190.00 to $210.00 and gave the company an “equal weight” rating in a research note on Thursday, March 6th. JPMorgan Chase & Co. boosted their target price on Zscaler from $240.00 to $250.00 and gave the company an “overweight” rating in a research note on Thursday, March 6th. Oppenheimer raised their price target on Zscaler from $230.00 to $250.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 3rd. Wedbush increased their target price on Zscaler from $230.00 to $240.00 and gave the stock an “outperform” rating in a research note on Thursday, March 6th. Finally, Susquehanna lifted their price target on shares of Zscaler from $210.00 to $225.00 and gave the company a “positive” rating in a research note on Tuesday, December 3rd. Nine investment analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. According to MarketBeat.com, Zscaler has an average rating of “Moderate Buy” and a consensus target price of $232.68.

Insiders Place Their Bets

In other news, major shareholder Ajay Mangal sold 190,480 shares of Zscaler stock in a transaction that occurred 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 directly owns 2,580,210 shares in the company, valued at approximately $517,822,344.90. The trade was a 6.87 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jagtar Singh Chaudhry sold 2,155 shares of the 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 directly owns 356,414 shares in the company, valued at $70,979,848.10. This represents a 0.60 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 199,234 shares of company stock worth $39,970,790 over the last three months. Insiders own 18.10% of the company’s stock.

Zscaler Price Performance

Shares of ZS opened at $207.14 on Friday. The company’s 50-day moving average is $202.08 and its 200-day moving average is $193.67. The firm has a market capitalization of $32.05 billion, a PE ratio of -828.56 and a beta of 0.88. Zscaler, Inc. has a fifty-two week low of $153.45 and a fifty-two week high of $217.84.

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.