Zscaler, Inc. (NASDAQ:ZS) Position Boosted by E Fund Management Co. Ltd.

E Fund Management Co. Ltd. increased its holdings in Zscaler, Inc. (NASDAQ:ZS) by 28.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,818 shares of the company’s stock after buying an additional 408 shares during the quarter. E Fund Management Co. Ltd.’s holdings in Zscaler were worth $328,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Geode Capital Management LLC grew its holdings in Zscaler by 3.9% in the 3rd quarter. Geode Capital Management LLC now owns 1,625,861 shares of the company’s stock worth $277,327,000 after buying an additional 60,414 shares in the last quarter. Champlain Investment Partners LLC boosted its stake in Zscaler by 28.2% during the 3rd quarter. Champlain Investment Partners LLC now owns 1,289,350 shares of the company’s stock valued at $220,401,000 after purchasing an additional 283,540 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Zscaler by 3.2% during the 4th quarter. Bank of New York Mellon Corp now owns 539,113 shares of the company’s stock valued at $97,261,000 after purchasing an additional 16,742 shares in the last quarter. Westfield Capital Management Co. LP boosted its stake in Zscaler by 33.8% during the 3rd quarter. Westfield Capital Management Co. LP now owns 399,516 shares of the company’s stock valued at $68,293,000 after purchasing an additional 100,814 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. boosted its stake in Zscaler by 11.0% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 380,463 shares of the company’s stock valued at $65,036,000 after purchasing an additional 37,801 shares in the last quarter. 46.45% of the stock is owned by institutional investors.

Zscaler Trading Up 3.3 %

NASDAQ ZS opened at $208.76 on Friday. Zscaler, Inc. has a 1-year low of $153.45 and a 1-year high of $217.84. The company has a market capitalization of $32.03 billion, a PE ratio of -835.04 and a beta of 0.88. The firm’s fifty day simple moving average is $196.78 and its 200-day simple moving average is $191.70.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Citigroup reaffirmed a “buy” rating and set a $240.00 price target (up from $235.00) on shares of Zscaler in a research note on Wednesday. Piper Sandler increased their price target on Zscaler from $215.00 to $235.00 and gave the company an “overweight” rating in a research note on Tuesday, December 3rd. Bank of America raised Zscaler from a “neutral” rating to a “buy” rating and increased their price target for the company from $215.00 to $240.00 in a research note on Friday. UBS Group increased their price target on Zscaler from $250.00 to $260.00 and gave the company a “buy” rating in a research note on Thursday. Finally, Jefferies Financial Group increased their price objective on Zscaler from $225.00 to $245.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Eight equities research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company. According to data from MarketBeat, Zscaler currently has a consensus rating of “Moderate Buy” and an average price target of $234.29.

Insider Transactions at Zscaler

In other Zscaler news, CFO Remo Canessa sold 3,703 shares of the stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $200.32, for a total transaction of $741,784.96. Following the transaction, the chief financial officer now directly owns 220,635 shares of the company’s stock, valued at $44,197,603.20. This represents a 1.65 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Syam Nair sold 3,682 shares of the stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $200.32, for a total transaction of $737,578.24. Following the transaction, the insider now directly owns 142,866 shares in the company, valued at $28,618,917.12. The trade was a 2.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 10,248 shares of company stock valued at $2,052,879. 18.10% of the stock is owned by 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.