KLP Kapitalforvaltning AS Purchases New Stake in Zscaler, Inc. (NASDAQ:ZS)

KLP Kapitalforvaltning AS bought a new stake in shares of Zscaler, Inc. (NASDAQ:ZS) in the 4th quarter, HoldingsChannel reports. The fund bought 32,400 shares of the company’s stock, valued at approximately $5,845,000.

Several other institutional investors have also recently added to or reduced their stakes in ZS. Vestor Capital LLC bought a new position in shares of Zscaler during the fourth quarter valued at approximately $2,504,000. Quantbot Technologies LP bought a new position in Zscaler during the 4th quarter worth $336,000. Virtu Financial LLC bought a new stake in Zscaler in the fourth quarter valued at $3,145,000. Sciencast Management LP boosted its holdings in shares of Zscaler by 61.7% during the fourth quarter. Sciencast Management LP now owns 5,555 shares of the company’s stock valued at $1,002,000 after acquiring an additional 2,120 shares during the period. Finally, BluePointe Capital Management LLC bought a new position in shares of Zscaler during the fourth quarter worth about $1,233,000. Institutional investors own 46.45% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on ZS shares. Piper Sandler lifted their price objective on shares of Zscaler from $215.00 to $235.00 and gave the company an “overweight” rating in a research report on Tuesday, December 3rd. BTIG Research set a $252.00 price target on shares of Zscaler and gave the company a “buy” rating in a research note on Thursday, March 6th. JPMorgan Chase & Co. boosted their price objective on Zscaler from $240.00 to $250.00 and gave the stock an “overweight” rating in a research report on Thursday, March 6th. The Goldman Sachs Group set a $207.00 target price on Zscaler and gave the company a “neutral” rating in a research report on Thursday, March 6th. Finally, UBS Group boosted their price target on Zscaler from $250.00 to $260.00 and gave the stock a “buy” rating in a research report on Thursday, March 6th. Nine investment analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $232.68.

Insider Activity

In related news, insider Robert Schlossman sold 2,878 shares of the stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $199.15, for a total value of $573,153.70. Following the completion of the sale, the insider now directly owns 107,587 shares of the company’s stock, valued at approximately $21,425,951.05. This represents a 2.61 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Remo Canessa sold 3,721 shares of the firm’s stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $199.15, for a total value of $741,037.15. Following the sale, the chief financial officer now owns 213,702 shares of the company’s stock, valued at $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. Insiders have sold 199,234 shares of company stock worth $39,970,790 over the last 90 days. 18.10% of the stock is owned by company insiders.

Zscaler Trading Up 2.8 %

NASDAQ ZS opened at $215.73 on Wednesday. Zscaler, Inc. has a 1 year low of $153.45 and a 1 year high of $217.84. The stock’s 50-day moving average price is $200.82 and its two-hundred day moving average price is $192.83. The company has a market cap of $33.38 billion, a PE ratio of -862.92 and a beta of 0.88.

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.