North Star Asset Management Inc. Purchases 246 Shares of Zscaler, Inc. (NASDAQ:ZS)

North Star Asset Management Inc. raised its stake in Zscaler, Inc. (NASDAQ:ZS) by 0.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 36,949 shares of the company’s stock after acquiring an additional 246 shares during the quarter. North Star Asset Management Inc.’s holdings in Zscaler were worth $6,666,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in ZS. Global X Japan Co. Ltd. lifted its holdings in shares of Zscaler by 127.4% in the fourth quarter. Global X Japan Co. Ltd. now owns 141 shares of the company’s stock worth $25,000 after acquiring an additional 79 shares during the last quarter. Summit Securities Group LLC bought a new position in shares of Zscaler in the fourth quarter worth about $27,000. Colonial Trust Co SC bought a new position in shares of Zscaler in the fourth quarter worth about $28,000. Stonebridge Financial Group LLC bought a new position in shares of Zscaler in the fourth quarter worth about $29,000. Finally, Elequin Capital LP bought a new position in Zscaler in the 4th quarter valued at approximately $30,000. Institutional investors own 46.45% of the company’s stock.

Insider Transactions at Zscaler

In related news, 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 value of $429,168.25. Following the completion of the sale, the chief executive officer now owns 356,414 shares of the company’s stock, valued at approximately $70,979,848.10. This trade represents a 0.60% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder Ajay Mangal sold 190,480 shares of Zscaler 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 sale, the insider now directly owns 2,580,210 shares of the company’s stock, valued at approximately $517,822,344.90. The trade was a 6.87% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 241,771 shares of company stock valued at $50,165,040 in the last quarter. 18.10% of the stock is currently owned by company insiders.

Zscaler Stock Up 0.5%

Shares of ZS stock opened at $254.10 on Friday. The company has a market cap of $39.32 billion, a price-to-earnings ratio of -1,016.40 and a beta of 1.14. Zscaler, Inc. has a 52 week low of $153.45 and a 52 week high of $255.87. The firm has a 50 day moving average of $215.58 and a 200-day moving average of $204.31.

Analyst Ratings Changes

A number of research analysts recently issued reports on ZS shares. BTIG Research set a $252.00 price objective on shares of Zscaler and gave the company a “buy” rating in a report on Thursday, March 6th. Bank of America upgraded shares of Zscaler from a “neutral” rating to a “buy” rating and raised their price objective for the company from $215.00 to $240.00 in a report on Friday, March 7th. Wells Fargo & Company raised their price objective on shares of Zscaler from $190.00 to $210.00 and gave the company an “equal weight” rating in a report on Thursday, March 6th. Needham & Company LLC reiterated a “buy” rating and issued a $240.00 price objective on shares of Zscaler in a report on Wednesday, March 5th. Finally, Morgan Stanley dropped their price objective on shares of Zscaler from $205.00 to $200.00 and set an “equal weight” rating for the company in a report on Wednesday, April 16th. Eight equities research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $239.31.

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.