Nomura Asset Management Co. Ltd. Has $66.43 Million Position in Zscaler, Inc. (NASDAQ:ZS)

Nomura Asset Management Co. Ltd. trimmed its stake in Zscaler, Inc. (NASDAQ:ZS) by 3.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 368,233 shares of the company’s stock after selling 12,230 shares during the quarter. Nomura Asset Management Co. Ltd. owned about 0.24% of Zscaler worth $66,433,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ZS. Artisan Partners Limited Partnership lifted its holdings in shares of Zscaler by 30.9% in the 4th quarter. Artisan Partners Limited Partnership now owns 868,795 shares of the company’s stock worth $156,739,000 after purchasing an additional 204,996 shares in the last quarter. Norges Bank bought a new position in shares of Zscaler in the fourth quarter valued at $32,158,000. Raymond James Financial Inc. acquired a new position in shares of Zscaler during the fourth quarter valued at about $28,072,000. Trivest Advisors Ltd increased its position in shares of Zscaler by 95.3% during the fourth quarter. Trivest Advisors Ltd now owns 250,000 shares of the company’s stock worth $45,102,000 after acquiring an additional 122,000 shares in the last quarter. Finally, Korea Investment CORP raised its holdings in shares of Zscaler by 144.3% in the 4th quarter. Korea Investment CORP now owns 136,160 shares of the company’s stock worth $24,565,000 after acquiring an additional 80,416 shares during the last quarter. 46.45% of the stock is owned by institutional investors.

Zscaler Stock Performance

NASDAQ:ZS opened at $209.45 on Friday. The business’s fifty day moving average is $201.69 and its 200 day moving average is $193.07. The firm has a market cap of $32.41 billion, a price-to-earnings ratio of -837.80 and a beta of 0.88. Zscaler, Inc. has a 52-week low of $153.45 and a 52-week high of $217.84.

Insider Activity

In related news, major shareholder Ajay Mangal sold 190,480 shares of the 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 sale, 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 filing with the SEC, which is accessible through the SEC website. Also, CEO Jagtar Singh Chaudhry sold 2,155 shares of the business’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 $429,168.25. Following the transaction, the chief executive officer now owns 356,414 shares of the company’s stock, valued at approximately $70,979,848.10. The trade was a 0.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 199,234 shares of company stock worth $39,970,790 over the last ninety days. Company insiders own 18.10% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on ZS. Wells Fargo & Company boosted their price objective on Zscaler from $190.00 to $210.00 and gave the stock an “equal weight” rating in a report on Thursday, March 6th. JMP Securities reissued a “market outperform” rating and issued a $240.00 price target (down from $270.00) on shares of Zscaler in a research report on Tuesday, December 3rd. Mizuho lifted their price objective on shares of Zscaler from $210.00 to $225.00 and gave the stock a “neutral” rating in a report on Wednesday, February 12th. Morgan Stanley assumed coverage on shares of Zscaler in a report on Tuesday, March 18th. They issued an “equal weight” rating for the company. Finally, Barclays restated an “overweight” rating on shares of Zscaler in a report on Wednesday, March 5th. Nine equities research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. According to data from MarketBeat, Zscaler has a consensus rating of “Moderate Buy” and a consensus price target of $232.68.

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.