Dynamic Technology Lab Private Ltd Boosts Stock Position in Zscaler, Inc. (NASDAQ:ZS)

Dynamic Technology Lab Private Ltd grew its position in Zscaler, Inc. (NASDAQ:ZS) by 305.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 6,423 shares of the company’s stock after purchasing an additional 4,839 shares during the period. Dynamic Technology Lab Private Ltd’s holdings in Zscaler were worth $1,159,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Mizuho Bank Ltd. raised its holdings in shares of Zscaler by 78.6% during the fourth quarter. Mizuho Bank Ltd. now owns 250 shares of the company’s stock worth $45,000 after purchasing an additional 110 shares during the last quarter. Hel Ved Capital Management Ltd raised its stake in shares of Zscaler by 291.7% during the 4th quarter. Hel Ved Capital Management Ltd now owns 10,380 shares of the company’s stock valued at $1,873,000 after buying an additional 7,730 shares during the last quarter. Pilgrim Partners Asia Pte Ltd acquired a new position in shares of Zscaler in the 4th quarter valued at about $87,000. Resona Asset Management Co. Ltd. purchased a new stake in shares of Zscaler in the fourth quarter worth about $4,956,000. Finally, Broderick Brian C grew its holdings in Zscaler by 53.8% during the fourth quarter. Broderick Brian C now owns 10,000 shares of the company’s stock worth $1,804,000 after acquiring an additional 3,500 shares during the period. 46.45% of the stock is currently owned by hedge funds and other institutional investors.

Zscaler Stock Down 9.1 %

NASDAQ ZS opened at $174.67 on Friday. The business’s fifty day simple moving average is $202.38 and its 200-day simple moving average is $194.60. The firm has a market cap 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.

Analyst Ratings Changes

ZS has been the topic of several recent research reports. Barclays restated an “overweight” rating on shares of Zscaler in a research report on Wednesday, March 5th. Cantor Fitzgerald raised shares of Zscaler from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $220.00 to $250.00 in a report on Thursday. Citigroup reaffirmed a “buy” rating and issued a $240.00 price objective (up previously from $235.00) on shares of Zscaler in a report on Wednesday, March 5th. Royal Bank of Canada increased their target price on shares of Zscaler from $230.00 to $250.00 and gave the stock an “outperform” rating in a research note on Thursday, March 6th. Finally, Scotiabank restated a “sector outperform” rating and issued a $242.00 price target (up previously from $225.00) on shares of Zscaler in a research note on Wednesday, March 5th. Eight investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $234.94.

Insider Buying and Selling

In other Zscaler news, major shareholder Ajay Mangal sold 190,480 shares of the firm’s 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 $517,822,344.90. This trade represents a 6.87 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jagtar Singh Chaudhry sold 2,155 shares of Zscaler stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $199.15, for a total value of $429,168.25. Following the completion of the sale, the chief executive officer now owns 356,414 shares in the company, valued at $70,979,848.10. This represents a 0.60 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 209,234 shares of company stock worth $42,030,790. 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.