Zscaler, Inc. (NASDAQ:ZS) Shares Purchased by Dynamic Technology Lab Private Ltd

Dynamic Technology Lab Private Ltd boosted its holdings in shares of Zscaler, Inc. (NASDAQ:ZS) by 305.5% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 6,423 shares of the company’s stock after buying an additional 4,839 shares during the period. Dynamic Technology Lab Private Ltd’s holdings in Zscaler were worth $1,159,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ZS. Mizuho Bank Ltd. increased its position 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 acquiring an additional 110 shares during the period. Hel Ved Capital Management Ltd grew its stake in Zscaler by 291.7% during the 4th quarter. Hel Ved Capital Management Ltd now owns 10,380 shares of the company’s stock worth $1,873,000 after purchasing an additional 7,730 shares in the last quarter. Pilgrim Partners Asia Pte Ltd purchased a new stake in Zscaler during the 4th quarter worth about $87,000. Resona Asset Management Co. Ltd. acquired a new stake in Zscaler in the 4th quarter valued at about $4,956,000. Finally, Broderick Brian C boosted its stake in shares of Zscaler by 53.8% in the 4th quarter. Broderick Brian C now owns 10,000 shares of the company’s stock valued at $1,804,000 after buying an additional 3,500 shares during the period. Hedge funds and other institutional investors own 46.45% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on ZS shares. Sanford C. Bernstein restated an “outperform” rating and issued a $244.00 price objective on shares of Zscaler in a report on Thursday, March 6th. JPMorgan Chase & Co. raised their price target on Zscaler from $240.00 to $250.00 and gave the company an “overweight” rating in a research note on Thursday, March 6th. BTIG Research set a $252.00 price target on Zscaler and gave the stock a “buy” rating in a report on Thursday, March 6th. Bank of America upgraded Zscaler from a “neutral” rating to a “buy” rating and increased their price objective for the company from $215.00 to $240.00 in a report on Friday, March 7th. Finally, Citigroup restated a “buy” rating and set a $240.00 target price (up previously from $235.00) on shares of Zscaler in a research note on Wednesday, March 5th. Eight research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $234.94.

Zscaler Price Performance

Shares of NASDAQ ZS opened at $174.67 on Friday. The company has a market cap of $27.03 billion, a PE ratio of -698.68 and a beta of 1.12. The stock has a fifty day moving average price of $202.38 and a 200 day moving average price of $194.60. Zscaler, Inc. has a 1-year low of $153.45 and a 1-year high of $217.84.

Insider Transactions at Zscaler

In other Zscaler news, Director Andrew William Fraser Brown sold 10,000 shares of the stock in a transaction 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 completion of the transaction, the director now owns 27,216 shares in the company, valued at approximately $5,606,496. This represents a 26.87 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Ajay Mangal sold 190,480 shares of the business’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 sale, the insider now owns 2,580,210 shares in the company, valued at $517,822,344.90. The trade was a 6.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 209,234 shares of company stock worth $42,030,790. Company 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.