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

Geode Capital Management LLC grew its stake in Zscaler, Inc. (NASDAQ:ZS) by 2.0% during the fourth quarter, Holdings Channel reports. The firm owned 1,658,406 shares of the company’s stock after purchasing an additional 32,545 shares during the period. Geode Capital Management LLC’s holdings in Zscaler were worth $298,710,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Pictet Asset Management Holding SA grew its position in Zscaler by 25.8% in 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. DnB Asset Management AS boosted its stake in shares of Zscaler by 66.8% in the 4th quarter. DnB Asset Management AS now owns 667,383 shares of the company’s stock worth $120,403,000 after buying an additional 267,162 shares during the last quarter. Artisan Partners Limited Partnership grew its holdings in shares of Zscaler by 30.9% in the fourth quarter. Artisan Partners Limited Partnership now owns 868,795 shares of the company’s stock valued at $156,739,000 after acquiring an additional 204,996 shares in the last quarter. Norges Bank purchased a new stake in shares of Zscaler during the fourth quarter valued at approximately $32,158,000. Finally, Raymond James Financial Inc. bought a new stake in Zscaler during the fourth quarter worth $28,072,000. Hedge funds and other institutional investors own 46.45% of the company’s stock.

Analyst Upgrades and Downgrades

ZS has been the subject of a number of recent analyst reports. Jefferies Financial Group reduced their price objective on Zscaler from $245.00 to $240.00 and set a “buy” rating for the company in a research note on Monday, March 31st. Citigroup restated a “buy” rating and set a $240.00 price objective (up previously from $235.00) on shares of Zscaler in a report on Wednesday, March 5th. Barclays reiterated an “overweight” rating on shares of Zscaler in a research note on Wednesday, March 5th. UBS Group raised their price target on shares of Zscaler from $250.00 to $260.00 and gave the stock a “buy” rating in a research note on Thursday, March 6th. Finally, Mizuho upped their price objective on Zscaler from $210.00 to $225.00 and gave the company a “neutral” rating in a research note on Wednesday, February 12th. Eight investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Zscaler presently has a consensus rating of “Moderate Buy” and a consensus target price of $234.94.

Insiders Place Their Bets

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 transaction of $38,227,431.20. Following the sale, the insider now directly owns 2,580,210 shares of the company’s stock, valued at $517,822,344.90. This trade represents a 6.87 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Andrew William Fraser Brown sold 10,000 shares of the company’s stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $206.00, for a total transaction of $2,060,000.00. Following the transaction, the director now owns 27,216 shares in the company, valued at $5,606,496. This represents a 26.87 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 209,234 shares of company stock valued at $42,030,790. 18.10% of the stock is currently owned by corporate insiders.

Zscaler Stock Down 9.1 %

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

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.