Westpac Banking Corp Has $863,000 Holdings in Zscaler, Inc. (NASDAQ:ZS)

Westpac Banking Corp raised its holdings in Zscaler, Inc. (NASDAQ:ZS) by 763.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,784 shares of the company’s stock after acquiring an additional 4,230 shares during the period. Westpac Banking Corp’s holdings in Zscaler were worth $863,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Pictet Asset Management Holding SA lifted its position in Zscaler by 25.8% in the 4th quarter. Pictet Asset Management Holding SA now owns 1,618,176 shares of the company’s stock valued at $291,935,000 after acquiring an additional 332,307 shares in the last quarter. DnB Asset Management AS boosted its position in shares of Zscaler by 66.8% during the fourth quarter. DnB Asset Management AS now owns 667,383 shares of the company’s stock worth $120,403,000 after buying an additional 267,162 shares during the period. Artisan Partners Limited Partnership grew its holdings in shares of Zscaler by 30.9% during the fourth quarter. Artisan Partners Limited Partnership now owns 868,795 shares of the company’s stock worth $156,739,000 after buying an additional 204,996 shares in the last quarter. Norges Bank bought a new position in shares of Zscaler during the fourth quarter worth about $32,158,000. Finally, Raymond James Financial Inc. acquired a new stake in Zscaler in the 4th quarter valued at approximately $28,072,000. 46.45% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Zscaler

In related 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 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Andrew William Fraser Brown sold 10,000 shares of the company’s stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $206.00, for a total transaction of $2,060,000.00. Following the sale, the director now directly owns 27,216 shares of the company’s stock, valued at $5,606,496. This represents a 26.87 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 209,234 shares of company stock valued at $42,030,790 in the last quarter. Company insiders own 18.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on ZS. Citigroup reaffirmed a “buy” rating and set a $240.00 price target (up from $235.00) on shares of Zscaler in a research note on Wednesday, March 5th. BMO Capital Markets raised their target price on shares of Zscaler from $222.00 to $233.00 and gave the company an “outperform” rating in a research report on Thursday, March 6th. UBS Group boosted their price target on shares of Zscaler from $250.00 to $260.00 and gave the stock a “buy” rating in a research report on Thursday, March 6th. BTIG Research set a $252.00 price objective on shares of Zscaler and gave the stock a “buy” rating in a research note on Thursday, March 6th. Finally, Robert W. Baird lifted their target price on Zscaler from $240.00 to $250.00 and gave the company an “outperform” rating in a research report 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 given a strong buy rating to the stock. Based on data from MarketBeat.com, Zscaler has a consensus rating of “Moderate Buy” and a consensus price target of $234.94.

Zscaler Stock Performance

Shares of Zscaler stock opened at $174.67 on Friday. The firm has a 50-day moving average of $202.38 and a 200-day moving average of $194.43. Zscaler, Inc. has a 52-week low of $153.45 and a 52-week high of $217.84. The stock has a market cap of $27.03 billion, a PE ratio of -698.68 and a beta of 1.12.

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.