Krane Funds Advisors LLC Takes Position in Zscaler, Inc. (NASDAQ:ZS)

Krane Funds Advisors LLC purchased a new stake in shares of Zscaler, Inc. (NASDAQ:ZS) in the 4th quarter, Holdings Channel.com reports. The fund purchased 1,222 shares of the company’s stock, valued at approximately $220,000.

A number of other hedge funds also recently modified their holdings of ZS. The Manufacturers Life Insurance Company lifted its stake in shares of Zscaler by 9.1% in the third quarter. The Manufacturers Life Insurance Company now owns 6,969 shares of the company’s stock worth $1,191,000 after acquiring an additional 581 shares during the period. Captrust Financial Advisors lifted its position in shares of Zscaler by 11.2% in the 3rd quarter. Captrust Financial Advisors now owns 5,024 shares of the company’s stock worth $859,000 after purchasing an additional 504 shares during the period. Benjamin Edwards Inc. bought a new stake in shares of Zscaler in the 3rd quarter valued at $449,000. HighTower Advisors LLC increased its position in shares of Zscaler by 4.1% during the third quarter. HighTower Advisors LLC now owns 64,574 shares of the company’s stock worth $11,064,000 after buying an additional 2,520 shares during the period. Finally, Janus Henderson Group PLC raised its stake in Zscaler by 9.0% during the third quarter. Janus Henderson Group PLC now owns 9,444 shares of the company’s stock worth $1,614,000 after buying an additional 782 shares during the last quarter. Institutional investors and hedge funds own 46.45% of the company’s stock.

Insider Buying and Selling at Zscaler

In related news, insider Robert Schlossman sold 2,878 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 $573,153.70. Following the transaction, the insider now directly owns 107,587 shares of the company’s stock, valued at approximately $21,425,951.05. This trade represents a 2.61 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Jagtar Singh Chaudhry sold 2,155 shares of the business’s stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $199.15, for a total transaction of $429,168.25. Following the completion of the sale, the chief executive officer now owns 356,414 shares of the company’s stock, valued at approximately $70,979,848.10. The trade was a 0.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 209,234 shares of company stock valued at $42,030,790 in the last 90 days. Corporate insiders own 18.10% of the company’s stock.

Zscaler Stock Performance

Shares of ZS stock opened at $174.67 on Monday. The company has a market capitalization of $27.03 billion, a PE ratio of -698.68 and a beta of 1.12. Zscaler, Inc. has a 52-week low of $153.45 and a 52-week high of $217.84. The business’s fifty day moving average is $202.38 and its 200 day moving average is $194.78.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. JPMorgan Chase & Co. upped their price target on shares of Zscaler from $240.00 to $250.00 and gave the company an “overweight” rating in a research report on Thursday, March 6th. The Goldman Sachs Group set a $207.00 target price on Zscaler and gave the company a “neutral” rating in a research report on Thursday, March 6th. Wells Fargo & Company lifted their target price on Zscaler from $190.00 to $210.00 and gave the stock an “equal weight” rating in a report on Thursday, March 6th. Mizuho boosted their price target on Zscaler from $210.00 to $225.00 and gave the company a “neutral” rating in a research note on Wednesday, February 12th. Finally, Wedbush raised their price objective on shares of Zscaler from $230.00 to $240.00 and gave the stock an “outperform” rating in a research report on Thursday, March 6th. Eight equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $234.94.

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.