Nissay Asset Management Corp Japan ADV Purchases 2,141 Shares of Zscaler, Inc. (NASDAQ:ZS)

Nissay Asset Management Corp Japan ADV boosted its position in shares of Zscaler, Inc. (NASDAQ:ZS) by 8.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 26,608 shares of the company’s stock after purchasing an additional 2,141 shares during the quarter. Nissay Asset Management Corp Japan ADV’s holdings in Zscaler were worth $4,911,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ZS. Rockland Trust Co. bought a new position in shares of Zscaler in the 4th quarter worth $203,000. Assenagon Asset Management S.A. boosted its holdings in Zscaler by 59.7% during the fourth quarter. Assenagon Asset Management S.A. now owns 190,794 shares of the company’s stock worth $34,421,000 after buying an additional 71,297 shares during the last quarter. CHURCHILL MANAGEMENT Corp bought a new position in Zscaler during the fourth quarter worth about $1,976,000. Hennion & Walsh Asset Management Inc. grew its position in shares of Zscaler by 10.5% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 12,304 shares of the company’s stock worth $2,220,000 after buying an additional 1,169 shares during the period. Finally, Bouvel Investment Partners LLC increased its stake in shares of Zscaler by 1.4% in the 4th quarter. Bouvel Investment Partners LLC now owns 17,547 shares of the company’s stock valued at $3,166,000 after acquiring an additional 241 shares during the last quarter. 46.45% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Sanford C. Bernstein reissued an “outperform” rating and set a $244.00 price objective on shares of Zscaler in a research note on Thursday, March 6th. Mizuho boosted their price target on shares of Zscaler from $220.00 to $250.00 and gave the company a “neutral” rating in a report on Thursday. Wedbush upped their price objective on shares of Zscaler from $230.00 to $240.00 and gave the company an “outperform” rating in a research report on Thursday, March 6th. Bank of America raised Zscaler from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $215.00 to $240.00 in a research note on Friday, March 7th. Finally, Stephens initiated coverage on Zscaler in a report on Tuesday, April 1st. They issued an “overweight” rating and a $255.00 price target for the company. Eight research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Zscaler currently has an average rating of “Moderate Buy” and a consensus price target of $237.44.

Insider Buying and Selling at Zscaler

In other news, major shareholder Ajay Mangal sold 190,480 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the insider now directly 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 filing with the SEC, which is available at this link. Also, Director Andrew William Fraser Brown sold 10,000 shares of Zscaler stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $206.00, for a total value of $2,060,000.00. Following the transaction, the director now owns 27,216 shares of the company’s stock, valued at $5,606,496. This represents a 26.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 209,234 shares of company stock worth $42,030,790 over the last quarter. 18.10% of the stock is currently owned by insiders.

Zscaler Trading Up 0.6%

NASDAQ:ZS opened at $245.92 on Friday. The stock has a market capitalization of $38.05 billion, a PE ratio of -983.68 and a beta of 1.14. Zscaler, Inc. has a 1-year low of $153.45 and a 1-year high of $247.28. The firm has a fifty day simple moving average of $209.13 and a 200 day simple moving average of $201.55.

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.