Pictet Asset Management Holding SA Purchases 332,307 Shares of Zscaler, Inc. (NASDAQ:ZS)

Pictet Asset Management Holding SA lifted its position in shares of Zscaler, Inc. (NASDAQ:ZS) by 25.8% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,618,176 shares of the company’s stock after purchasing an additional 332,307 shares during the quarter. Pictet Asset Management Holding SA owned about 1.05% of Zscaler worth $291,935,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ZS. Corebridge Financial Inc. lifted its holdings in shares of Zscaler by 0.5% during the fourth quarter. Corebridge Financial Inc. now owns 11,695 shares of the company’s stock valued at $2,110,000 after purchasing an additional 54 shares during the last quarter. Erste Asset Management GmbH raised its stake in Zscaler by 0.6% during the fourth quarter. Erste Asset Management GmbH now owns 9,780 shares of the company’s stock valued at $1,805,000 after buying an additional 56 shares during the last quarter. KRS Capital Management LLC raised its stake in Zscaler by 1.9% during the fourth quarter. KRS Capital Management LLC now owns 3,261 shares of the company’s stock valued at $588,000 after buying an additional 60 shares during the last quarter. Ironwood Investment Management LLC boosted its holdings in Zscaler by 1.0% in the fourth quarter. Ironwood Investment Management LLC now owns 6,249 shares of the company’s stock worth $1,127,000 after acquiring an additional 64 shares in the last quarter. Finally, Smartleaf Asset Management LLC grew its stake in shares of Zscaler by 16.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 482 shares of the company’s stock worth $88,000 after acquiring an additional 69 shares during the last quarter. 46.45% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on ZS shares. Scotiabank reiterated a “sector outperform” rating and issued a $242.00 price target (up previously from $225.00) on shares of Zscaler in a research note on Wednesday, March 5th. Mizuho increased their price target on shares of Zscaler from $210.00 to $225.00 and gave the company a “neutral” rating in a report on Wednesday, February 12th. Robert W. Baird raised their price target on shares of Zscaler from $240.00 to $250.00 and gave the company an “outperform” rating in a research report on Thursday, March 6th. Deutsche Bank Aktiengesellschaft upped their price objective on Zscaler from $200.00 to $225.00 and gave the company a “buy” rating in a research report on Tuesday, December 3rd. Finally, Canaccord Genuity Group lifted their target price on Zscaler from $220.00 to $230.00 and gave the stock a “buy” rating in a report on Tuesday, December 3rd. Nine analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. Based on data from MarketBeat, Zscaler presently has an average rating of “Moderate Buy” and an average price target of $232.68.

Zscaler Price Performance

Shares of NASDAQ:ZS opened at $209.45 on Friday. The company has a market capitalization of $32.41 billion, a P/E ratio of -837.80 and a beta of 0.88. Zscaler, Inc. has a 1-year low of $153.45 and a 1-year high of $217.84. The firm’s 50 day simple moving average is $201.69 and its two-hundred day simple moving average is $193.07.

Insider Activity

In related news, major shareholder Ajay Mangal sold 190,480 shares of the company’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $200.69, for a total transaction of $38,227,431.20. Following the completion of the transaction, the insider now owns 2,580,210 shares in the company, valued at approximately $517,822,344.90. This represents a 6.87 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jagtar Singh Chaudhry sold 2,155 shares of Zscaler stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $199.15, for a total transaction of $429,168.25. Following the completion of the sale, the chief executive officer now owns 356,414 shares in the company, valued at approximately $70,979,848.10. This represents a 0.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 199,234 shares of company stock worth $39,970,790 in the last three months. 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.