OVERSEA CHINESE BANKING Corp Ltd Purchases New Shares in Zscaler, Inc. (NASDAQ:ZS)

OVERSEA CHINESE BANKING Corp Ltd purchased a new stake in Zscaler, Inc. (NASDAQ:ZS) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 2,191 shares of the company’s stock, valued at approximately $404,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Fred Alger Management LLC raised its holdings 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 acquiring an additional 9,542 shares during the period. Nomura Asset Management Co. Ltd. raised its holdings 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 acquiring an additional 37,801 shares during the period. Zweig DiMenna Associates LLC raised its holdings 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 acquiring an additional 17,900 shares during the period. Baader Bank Aktiengesellschaft raised its holdings 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 acquiring an additional 1,952 shares during the period. Finally, Benjamin Edwards Inc. purchased a new position in shares of Zscaler during the 3rd quarter worth $449,000. Institutional investors and hedge funds own 46.45% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Mizuho lifted their price target on Zscaler from $210.00 to $225.00 and gave the stock a “neutral” rating in a report on Wednesday, February 12th. UBS Group boosted their price objective on shares of Zscaler from $250.00 to $260.00 and gave the company a “buy” rating in a report on Thursday, March 6th. Bank of America upgraded shares of Zscaler from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $215.00 to $240.00 in a report on Friday, March 7th. KeyCorp boosted their price objective on shares of Zscaler from $245.00 to $250.00 and gave the company an “overweight” rating in a report on Tuesday, December 3rd. Finally, Morgan Stanley initiated coverage on shares of Zscaler in a report on Tuesday. They issued an “equal weight” rating on the stock. Nine research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. According to data from MarketBeat, Zscaler has a consensus rating of “Moderate Buy” and a consensus price target of $232.68.

Zscaler Stock Down 0.2 %

Shares of NASDAQ:ZS opened at $203.55 on Friday. The business has a 50 day moving average price of $199.43 and a 200 day moving average price of $191.81. Zscaler, Inc. has a twelve month low of $153.45 and a twelve month high of $217.84. The company has a market cap of $31.49 billion, a price-to-earnings ratio of -814.20 and a beta of 0.88.

Insiders Place Their Bets

In related news, CFO Remo Canessa sold 3,721 shares of the firm’s stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $199.15, for a total transaction of $741,037.15. Following the completion of the sale, the chief financial officer now directly owns 213,702 shares of the company’s stock, valued at $42,558,753.30. This trade represents a 1.71 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Jagtar Singh Chaudhry sold 2,155 shares of the firm’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 directly owns 356,414 shares of the company’s stock, valued at $70,979,848.10. This represents a 0.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 199,234 shares of company stock worth $39,970,790. 18.10% of the stock is currently owned by company insiders.

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.