Hel Ved Capital Management Ltd Has $1.87 Million Stake in Zscaler, Inc. (NASDAQ:ZS)

Hel Ved Capital Management Ltd raised its position in shares of Zscaler, Inc. (NASDAQ:ZS) by 291.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 10,380 shares of the company’s stock after purchasing an additional 7,730 shares during the quarter. Hel Ved Capital Management Ltd’s holdings in Zscaler were worth $1,873,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Pictet Asset Management Holding SA raised its position in Zscaler by 25.8% during the fourth quarter. Pictet Asset Management Holding SA now owns 1,618,176 shares of the company’s stock valued at $291,935,000 after buying an additional 332,307 shares during the period. DnB Asset Management AS increased its holdings in shares of Zscaler by 66.8% in the 4th quarter. DnB Asset Management AS now owns 667,383 shares of the company’s stock valued at $120,403,000 after purchasing an additional 267,162 shares during the period. Artisan Partners Limited Partnership lifted its position in shares of Zscaler by 30.9% in the fourth quarter. Artisan Partners Limited Partnership now owns 868,795 shares of the company’s stock worth $156,739,000 after purchasing an additional 204,996 shares in the last quarter. Norges Bank purchased a new stake in shares of Zscaler in the fourth quarter worth approximately $32,158,000. Finally, Raymond James Financial Inc. acquired a new stake in shares of Zscaler during the fourth quarter worth approximately $28,072,000. Hedge funds and other institutional investors own 46.45% of the company’s stock.

Zscaler Trading Down 9.1 %

ZS opened at $174.67 on Friday. The stock has a market cap of $27.03 billion, a PE ratio of -698.68 and a beta of 1.12. Zscaler, Inc. has a 1 year low of $153.45 and a 1 year high of $217.84. The stock’s 50 day simple moving average is $202.38 and its 200-day simple moving average is $194.43.

Insider Buying and Selling at Zscaler

In related news, CEO Jagtar Singh Chaudhry sold 2,155 shares of Zscaler stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $199.15, for a total transaction of $429,168.25. Following the completion of the transaction, the chief executive officer now directly owns 356,414 shares of the company’s stock, valued at $70,979,848.10. This trade represents a 0.60 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, 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 transaction of $38,227,431.20. Following the completion of the transaction, the insider now owns 2,580,210 shares of the company’s stock, 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 209,234 shares of company stock valued at $42,030,790 in the last 90 days. 18.10% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research firms have issued reports on ZS. JPMorgan Chase & Co. increased their target price on shares of Zscaler from $240.00 to $250.00 and gave the stock an “overweight” rating in a research report on Thursday, March 6th. Robert W. Baird lifted their price objective on Zscaler from $240.00 to $250.00 and gave the company an “outperform” rating in a research report on Thursday, March 6th. Barclays reaffirmed an “overweight” rating on shares of Zscaler in a research report on Wednesday, March 5th. Needham & Company LLC reiterated a “buy” rating and set a $240.00 price target on shares of Zscaler in a report on Wednesday, March 5th. Finally, Jefferies Financial Group dropped their price objective on Zscaler from $245.00 to $240.00 and set a “buy” rating on the stock in a report on Monday, March 31st. Eight analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $234.94.

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.