Xponance Inc. Raises Stock Position in Zscaler, Inc. (NASDAQ:ZS)

Xponance Inc. raised its stake in Zscaler, Inc. (NASDAQ:ZS) by 8.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 17,127 shares of the company’s stock after buying an additional 1,295 shares during the period. Xponance Inc.’s holdings in Zscaler were worth $3,090,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in ZS. Fred Alger Management LLC increased its stake in shares of Zscaler by 1,151.0% during the 3rd quarter. Fred Alger Management LLC now owns 10,371 shares of the company’s stock worth $1,773,000 after purchasing an additional 9,542 shares in the last quarter. Nomura Asset Management Co. Ltd. increased its stake in shares of Zscaler by 11.0% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 380,463 shares of the company’s stock worth $65,036,000 after purchasing an additional 37,801 shares in the last quarter. Zweig DiMenna Associates LLC increased its stake in shares of Zscaler by 29.8% during the 4th quarter. Zweig DiMenna Associates LLC now owns 77,941 shares of the company’s stock worth $14,061,000 after purchasing an additional 17,900 shares in the last quarter. Baader Bank Aktiengesellschaft increased its stake in shares of Zscaler by 30.3% during the 4th quarter. Baader Bank Aktiengesellschaft now owns 8,400 shares of the company’s stock worth $1,515,000 after purchasing an additional 1,952 shares in the last quarter. Finally, Benjamin Edwards Inc. purchased a new position in shares of Zscaler during the 3rd quarter worth approximately $449,000. 46.45% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the stock. Morgan Stanley initiated coverage on shares of Zscaler in a research note on Tuesday. They set an “equal weight” rating for the company. Oppenheimer lifted their target price on shares of Zscaler from $230.00 to $250.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 3rd. Scotiabank reaffirmed a “sector outperform” rating and issued a $242.00 target price (up from $225.00) on shares of Zscaler in a research note on Wednesday, March 5th. Robert W. Baird lifted their target price on shares of Zscaler from $240.00 to $250.00 and gave the stock an “outperform” rating in a research note on Thursday, March 6th. Finally, UBS Group lifted their target price on shares of Zscaler from $250.00 to $260.00 and gave the stock a “buy” rating in a research note on Thursday, March 6th. Nine 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, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $232.68.

Insider Buying and Selling

In related news, insider Robert Schlossman sold 2,878 shares of Zscaler stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $199.15, for a total transaction of $573,153.70. Following the sale, the insider now owns 107,587 shares of the company’s stock, valued at $21,425,951.05. The trade was a 2.61 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, 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 transaction of $38,227,431.20. Following 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 position. The disclosure for this sale can be found here. Insiders have sold 199,234 shares of company stock valued at $39,970,790 in the last quarter. Company insiders own 18.10% of the company’s stock.

Zscaler Price Performance

Zscaler stock opened at $203.55 on Friday. Zscaler, Inc. has a 12-month low of $153.45 and a 12-month high of $217.84. The company has a market capitalization of $31.49 billion, a price-to-earnings ratio of -814.20 and a beta of 0.88. The firm’s fifty day moving average price is $199.43 and its 200 day moving average price is $191.81.

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.