Norinchukin Bank The Boosts Stake in Zscaler, Inc. (NASDAQ:ZS)

by · The Cerbat Gem

Norinchukin Bank The boosted its stake in Zscaler, Inc. (NASDAQ:ZS – Free Report) by 9.7% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 1,524 shares of the company’s stock after purchasing an additional 135 shares during the period. Norinchukin Bank The’s holdings in Zscaler were worth $275,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Global X Japan Co. Ltd. boosted its stake 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 purchasing an additional 79 shares during the period. Summit Securities Group LLC purchased a new position in Zscaler in the 4th quarter valued at approximately $27,000. Stonebridge Financial Group LLC acquired a new position in shares of Zscaler in the fourth quarter worth $29,000. Versant Capital Management Inc increased its position in shares of Zscaler by 136.8% during the fourth quarter. Versant Capital Management Inc now owns 180 shares of the company’s stock worth $32,000 after acquiring an additional 104 shares during the period. Finally, Modus Advisors LLC acquired a new stake in shares of Zscaler in the fourth quarter valued at $36,000. Hedge funds and other institutional investors own 46.45% of the company’s stock.

Insider Transactions at Zscaler

In other Zscaler news, 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 transaction, the insider now directly owns 107,587 shares in the company, valued at approximately $21,425,951.05. This represents a 2.61 % 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, CFO Remo Canessa sold 3,721 shares of Zscaler stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $199.15, for a total transaction of $741,037.15. Following the sale, the chief financial officer now owns 213,702 shares of the company’s stock, valued at approximately $42,558,753.30. The trade was a 1.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 209,234 shares of company stock valued at $42,030,790. Corporate insiders own 18.10% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Rosenblatt Securities restated a “buy” rating and set a $235.00 price target on shares of Zscaler in a report on Tuesday, April 15th. Sanford C. Bernstein reiterated an “outperform” rating and set a $244.00 price target on shares of Zscaler in a report on Thursday, March 6th. BTIG Research set a $252.00 price objective on shares of Zscaler and gave the company a “buy” rating in a report on Thursday, March 6th. Robert W. Baird boosted their target price on shares of Zscaler from $240.00 to $250.00 and gave the stock an “outperform” rating in a research note on Thursday, March 6th. Finally, BMO Capital Markets raised their price target on Zscaler from $222.00 to $233.00 and gave the company an “outperform” rating in a research note 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. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $234.77.

Get Our Latest Analysis on Zscaler

Zscaler Stock Up 1.5 %

NASDAQ ZS opened at $196.52 on Wednesday. Zscaler, Inc. has a 52-week low of $153.45 and a 52-week high of $217.84. The firm has a 50-day moving average price of $199.62 and a 200 day moving average price of $196.74. The stock has a market capitalization of $30.41 billion, a P/E ratio of -786.08 and a beta of 1.12.

Zscaler Profile

(Free Report)

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.

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