NEOS Investment Management LLC Acquires 1,238 Shares of Zscaler, Inc. (NASDAQ:ZS)

NEOS Investment Management LLC boosted its holdings in Zscaler, Inc. (NASDAQ:ZS) by 15.5% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 9,209 shares of the company’s stock after acquiring an additional 1,238 shares during the quarter. NEOS Investment Management LLC’s holdings in Zscaler were worth $1,661,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Corebridge Financial Inc. boosted its stake in shares of Zscaler by 0.5% during the fourth quarter. Corebridge Financial Inc. now owns 11,695 shares of the company’s stock valued at $2,110,000 after purchasing an additional 54 shares in the last quarter. Erste Asset Management GmbH boosted its position in Zscaler by 0.6% during the 4th quarter. Erste Asset Management GmbH now owns 9,780 shares of the company’s stock worth $1,805,000 after buying an additional 56 shares during the period. KRS Capital Management LLC grew its holdings in Zscaler by 1.9% during the 4th quarter. KRS Capital Management LLC now owns 3,261 shares of the company’s stock worth $588,000 after acquiring an additional 60 shares during the last quarter. Ironwood Investment Management LLC increased its position in Zscaler by 1.0% in the 4th quarter. Ironwood Investment Management LLC now owns 6,249 shares of the company’s stock valued at $1,127,000 after acquiring an additional 64 shares during the period. Finally, Smartleaf Asset Management LLC raised its stake in shares of Zscaler by 16.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 482 shares of the company’s stock valued at $88,000 after acquiring an additional 69 shares during the last quarter. Institutional investors own 46.45% of the company’s stock.

Insider Transactions at Zscaler

In related news, CFO Remo Canessa sold 3,721 shares of the company’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 owns 213,702 shares in the company, valued at approximately $42,558,753.30. This represents a 1.71 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, major shareholder Ajay Mangal sold 190,480 shares of the firm’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $200.69, for a total value of $38,227,431.20. Following the transaction, the insider now owns 2,580,210 shares in the company, valued at approximately $517,822,344.90. This trade represents a 6.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 199,234 shares of company stock valued at $39,970,790 over the last three months. Corporate insiders own 18.10% of the company’s stock.

Zscaler Trading Down 1.1 %

ZS opened at $207.14 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 cap of $32.05 billion, a price-to-earnings ratio of -828.56 and a beta of 0.88. The company’s fifty day moving average price is $202.08 and its two-hundred day moving average price is $193.67.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on ZS. The Goldman Sachs Group set a $207.00 price objective on shares of Zscaler and gave the stock a “neutral” rating in a research note on Thursday, March 6th. JMP Securities reissued a “market outperform” rating and issued a $240.00 price target (down previously from $270.00) on shares of Zscaler in a research note on Tuesday, December 3rd. Royal Bank of Canada lifted their price objective on Zscaler from $230.00 to $250.00 and gave the stock an “outperform” rating in a research note on Thursday, March 6th. Susquehanna increased their target price on shares of Zscaler from $210.00 to $225.00 and gave the company a “positive” rating in a research report on Tuesday, December 3rd. Finally, Barclays restated an “overweight” rating on shares of Zscaler in a report on Wednesday, March 5th. Nine investment analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. According to MarketBeat.com, Zscaler currently has an average rating of “Moderate Buy” and an average price target of $232.68.

Zscaler Company 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.