SouthState Corp Raises Stock Holdings in Zscaler, Inc. (NASDAQ:ZS)

SouthState Corp lifted its holdings in shares of Zscaler, Inc. (NASDAQ:ZS) by 4.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 27,738 shares of the company’s stock after acquiring an additional 1,170 shares during the quarter. SouthState Corp’s holdings in Zscaler were worth $5,004,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Geode Capital Management LLC grew its holdings in Zscaler by 3.9% during the third quarter. Geode Capital Management LLC now owns 1,625,861 shares of the company’s stock valued at $277,327,000 after purchasing an additional 60,414 shares during the period. Champlain Investment Partners LLC grew its holdings in Zscaler by 28.2% during the third quarter. Champlain Investment Partners LLC now owns 1,289,350 shares of the company’s stock valued at $220,401,000 after purchasing an additional 283,540 shares during the period. Bank of New York Mellon Corp grew its holdings 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 valued at $97,261,000 after purchasing an additional 16,742 shares during the period. Westfield Capital Management Co. LP grew its holdings in Zscaler by 33.8% during the third quarter. Westfield Capital Management Co. LP now owns 399,516 shares of the company’s stock valued at $68,293,000 after purchasing an additional 100,814 shares during the period. Finally, Nomura Asset Management Co. Ltd. grew its holdings in Zscaler by 11.0% during the third quarter. Nomura Asset Management Co. Ltd. now owns 380,463 shares of the company’s stock valued at $65,036,000 after purchasing an additional 37,801 shares during the period. 46.45% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have weighed in on ZS. Canaccord Genuity Group raised their price target on Zscaler from $220.00 to $230.00 and gave the stock a “buy” rating in a report on Tuesday, December 3rd. Needham & Company LLC reaffirmed a “buy” rating and issued a $240.00 price target on shares of Zscaler in a report on Wednesday, March 5th. Oppenheimer raised their price target on Zscaler from $230.00 to $250.00 and gave the stock an “outperform” rating in a report on Tuesday, December 3rd. Robert W. Baird raised their price target on Zscaler from $240.00 to $250.00 and gave the stock an “outperform” rating in a report on Thursday, March 6th. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $240.00 price target (down from $270.00) on shares of Zscaler in a report on Tuesday, December 3rd. Nine investment analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $233.88.

Zscaler Trading Up 4.3 %

ZS opened at $197.81 on Monday. The company has a market cap of $30.61 billion, a P/E ratio of -791.24 and a beta of 0.88. The business’s 50-day moving average price is $198.14 and its 200-day moving average price is $191.59. Zscaler, Inc. has a 12 month low of $153.45 and a 12 month high of $217.84.

Insider Transactions at Zscaler

In other Zscaler news, CEO Jagtar Singh Chaudhry sold 2,863 shares of the company’s stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $200.32, for a total transaction of $573,516.16. Following the completion of the transaction, the chief executive officer now owns 358,569 shares of the company’s stock, valued at $71,828,542.08. This represents a 0.79 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Syam Nair sold 3,682 shares of the company’s stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $200.32, for a total value of $737,578.24. Following the transaction, the insider now directly owns 142,866 shares of the company’s stock, valued at $28,618,917.12. The trade was a 2.51 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 10,248 shares of company stock worth $2,052,879. 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.