DnB Asset Management AS Has $120.40 Million Stock Position in Zscaler, Inc. (NASDAQ:ZS)

DnB Asset Management AS boosted its position in shares of Zscaler, Inc. (NASDAQ:ZS) by 66.8% in the 4th quarter, HoldingsChannel reports. The firm owned 667,383 shares of the company’s stock after buying an additional 267,162 shares during the period. DnB Asset Management AS’s holdings in Zscaler were worth $120,403,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Global X Japan Co. Ltd. raised its holdings in shares of Zscaler by 127.4% in the fourth quarter. Global X Japan Co. Ltd. now owns 141 shares of the company’s stock valued at $25,000 after buying an additional 79 shares during the last quarter. Stonebridge Financial Group LLC bought a new position in shares of Zscaler in the 4th quarter valued at about $29,000. Prestige Wealth Management Group LLC acquired a new stake in shares of Zscaler during the 3rd quarter worth approximately $31,000. True Wealth Design LLC raised its stake in shares of Zscaler by 18,500.0% during the third quarter. True Wealth Design LLC now owns 186 shares of the company’s stock worth $32,000 after buying an additional 185 shares during the last quarter. Finally, Versant Capital Management Inc lifted its holdings in Zscaler by 136.8% in the fourth quarter. Versant Capital Management Inc now owns 180 shares of the company’s stock valued at $32,000 after buying an additional 104 shares during the period. 46.45% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have commented on ZS. Canaccord Genuity Group upped their target price on shares of Zscaler from $220.00 to $230.00 and gave the company a “buy” rating in a research report on Tuesday, December 3rd. Needham & Company LLC reissued a “buy” rating and issued a $240.00 target price on shares of Zscaler in a research note on Wednesday, March 5th. Guggenheim reissued a “neutral” rating on shares of Zscaler in a research note on Tuesday, December 3rd. Citigroup reaffirmed a “buy” rating and issued a $240.00 price target (up previously from $235.00) on shares of Zscaler in a research note on Wednesday, March 5th. Finally, Piper Sandler increased their price objective on shares of Zscaler from $215.00 to $235.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 3rd. Nine investment analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $232.68.

Zscaler Price Performance

NASDAQ:ZS opened at $209.45 on Friday. The company has a market cap of $32.41 billion, a P/E ratio of -837.80 and a beta of 0.88. The firm’s fifty day moving average price is $201.69 and its two-hundred day moving average price is $193.07. Zscaler, Inc. has a one year low of $153.45 and a one year high of $217.84.

Insider Buying and Selling

In other news, 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 completion of the sale, the insider now owns 2,580,210 shares of the company’s stock, valued at approximately $517,822,344.90. This trade represents a 6.87 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Robert Schlossman sold 2,878 shares of the company’s stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $199.15, for a total transaction of $573,153.70. Following the completion of the transaction, the insider now owns 107,587 shares in the company, valued at $21,425,951.05. This trade represents a 2.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 199,234 shares of company stock valued at $39,970,790. Company insiders own 18.10% of the company’s stock.

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.