Geode Capital Management LLC Purchases 32,545 Shares of Zscaler, Inc. (NASDAQ:ZS)

Geode Capital Management LLC increased its position in shares of Zscaler, Inc. (NASDAQ:ZS) by 2.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,658,406 shares of the company’s stock after buying an additional 32,545 shares during the quarter. Geode Capital Management LLC owned 1.08% of Zscaler worth $298,710,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Pictet Asset Management Holding SA raised its stake in shares of Zscaler by 25.8% during the 4th quarter. Pictet Asset Management Holding SA now owns 1,618,176 shares of the company’s stock worth $291,935,000 after purchasing an additional 332,307 shares in the last quarter. Artisan Partners Limited Partnership lifted 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. DnB Asset Management AS grew its stake in shares of Zscaler by 66.8% in the fourth quarter. DnB Asset Management AS now owns 667,383 shares of the company’s stock valued at $120,403,000 after acquiring an additional 267,162 shares in the last quarter. Bank of New York Mellon Corp increased its position in Zscaler by 3.2% during the fourth quarter. Bank of New York Mellon Corp now owns 539,113 shares of the company’s stock worth $97,261,000 after acquiring an additional 16,742 shares during the period. Finally, Nomura Asset Management Co. Ltd. raised its stake in Zscaler by 11.0% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 380,463 shares of the company’s stock worth $65,036,000 after purchasing an additional 37,801 shares in the last quarter. Institutional investors and hedge funds own 46.45% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on ZS shares. JPMorgan Chase & Co. raised their target price on shares of Zscaler from $240.00 to $250.00 and gave the stock an “overweight” rating in a report on Thursday, March 6th. BTIG Research set a $252.00 price objective on Zscaler and gave the company a “buy” rating in a report on Thursday, March 6th. Morgan Stanley assumed coverage on Zscaler in a research report on Tuesday, March 18th. They issued an “equal weight” rating on the stock. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $244.00 price objective on shares of Zscaler in a research report on Thursday, March 6th. Finally, Bank of America raised shares of Zscaler from a “neutral” rating to a “buy” rating and raised their target price for the company from $215.00 to $240.00 in a report on Friday, March 7th. Eight research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $234.94.

Zscaler Stock Performance

NASDAQ:ZS opened at $174.67 on Friday. Zscaler, Inc. has a 52 week low of $153.45 and a 52 week high of $217.84. The firm’s fifty day moving average is $202.38 and its 200-day moving average is $194.60. The firm has a market cap of $27.03 billion, a P/E ratio of -698.68 and a beta of 1.12.

Insiders Place Their Bets

In other Zscaler news, major shareholder Ajay Mangal sold 190,480 shares of the firm’s stock in a transaction on Monday, March 17th. The shares were 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 in the company, valued at approximately $517,822,344.90. This trade represents a 6.87 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Robert Schlossman sold 2,878 shares of the firm’s stock in a transaction dated Tuesday, March 18th. The shares were 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 owns 107,587 shares of the company’s stock, valued at approximately $21,425,951.05. This represents a 2.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 209,234 shares of company stock worth $42,030,790. Company insiders own 18.10% of the company’s stock.

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.