B. Metzler seel. Sohn & Co. AG Increases Stake in Zscaler, Inc. (NASDAQ:ZS)

B. Metzler seel. Sohn & Co. AG grew its stake in shares of Zscaler, Inc. (NASDAQ:ZS) by 1.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 27,915 shares of the company’s stock after buying an additional 416 shares during the period. B. Metzler seel. Sohn & Co. AG’s holdings in Zscaler were worth $5,037,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the stock. Global X Japan Co. Ltd. raised its holdings in shares of Zscaler by 127.4% during the 4th quarter. Global X Japan Co. Ltd. now owns 141 shares of the company’s stock worth $25,000 after acquiring an additional 79 shares in the last quarter. Summit Securities Group LLC bought a new stake in Zscaler in the fourth quarter worth $27,000. Stonebridge Financial Group LLC purchased a new stake in Zscaler during the fourth quarter valued at $29,000. Prestige Wealth Management Group LLC bought a new position in Zscaler during the third quarter valued at $31,000. Finally, Versant Capital Management Inc grew its stake in shares of Zscaler by 136.8% in the 4th quarter. Versant Capital Management Inc now owns 180 shares of the company’s stock worth $32,000 after buying an additional 104 shares in the last quarter. Hedge funds and other institutional investors own 46.45% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on ZS. Rosenblatt Securities raised shares of Zscaler from a “neutral” rating to a “buy” rating and increased their price target for the company from $190.00 to $235.00 in a report on Thursday, March 6th. Oppenheimer lifted their target price on Zscaler from $230.00 to $250.00 and gave the stock an “outperform” rating in a report on Tuesday, December 3rd. JMP Securities restated a “market outperform” rating and set a $240.00 price target (down previously from $270.00) on shares of Zscaler in a report on Tuesday, December 3rd. Guggenheim reaffirmed a “neutral” rating on shares of Zscaler in a research note on Tuesday, December 3rd. Finally, Piper Sandler increased their target price on shares of Zscaler from $215.00 to $235.00 and gave the company an “overweight” rating in a research note on Tuesday, December 3rd. Nine analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $232.52.

Insider Activity

In other Zscaler news, major shareholder Ajay Mangal sold 190,480 shares of the firm’s stock in a transaction dated 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 completion of the sale, the insider now owns 2,580,210 shares of the company’s stock, 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Robert Schlossman sold 2,878 shares of the company’s stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $199.15, for a total transaction of $573,153.70. Following the transaction, the insider now owns 107,587 shares in the company, valued at approximately $21,425,951.05. This trade represents a 2.61 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 199,234 shares of company stock worth $39,970,790. Corporate insiders own 18.10% of the company’s stock.

Zscaler Price Performance

ZS opened at $198.42 on Tuesday. The firm has a market capitalization of $30.70 billion, a PE ratio of -793.68 and a beta of 0.88. The business’s 50-day moving average is $202.30 and its two-hundred day moving average is $194.12. Zscaler, Inc. has a 1 year low of $153.45 and a 1 year high of $217.84.

Zscaler Company 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.