KLP Kapitalforvaltning AS Invests $5.85 Million in Zscaler, Inc. (NASDAQ:ZS)

KLP Kapitalforvaltning AS acquired a new position in shares of Zscaler, Inc. (NASDAQ:ZS) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 32,400 shares of the company’s stock, valued at approximately $5,845,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. 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 valued at $25,000 after purchasing an additional 79 shares in the last quarter. Stonebridge Financial Group LLC purchased a new stake in Zscaler in the 4th quarter valued at approximately $29,000. Prestige Wealth Management Group LLC acquired a new stake in Zscaler during the 3rd quarter valued at $31,000. True Wealth Design LLC increased its position in Zscaler by 18,500.0% during the third quarter. True Wealth Design LLC now owns 186 shares of the company’s stock worth $32,000 after buying an additional 185 shares in the last quarter. Finally, Versant Capital Management Inc raised its holdings in shares of Zscaler by 136.8% in the fourth quarter. Versant Capital Management Inc now owns 180 shares of the company’s stock worth $32,000 after acquiring an additional 104 shares during the last quarter. 46.45% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Morgan Stanley started coverage on Zscaler in a research report on Tuesday, March 18th. They set an “equal weight” rating for the company. Scotiabank reissued a “sector outperform” rating and issued a $242.00 price objective (up previously from $225.00) on shares of Zscaler in a research report on Wednesday, March 5th. Royal Bank of Canada raised their target price on shares of Zscaler from $230.00 to $250.00 and gave the stock an “outperform” rating in a research report on Thursday, March 6th. Guggenheim reiterated a “neutral” rating on shares of Zscaler in a report on Tuesday, December 3rd. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on Zscaler from $200.00 to $225.00 and gave the stock a “buy” rating in a report on Tuesday, December 3rd. Nine research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. According to data from MarketBeat, Zscaler has a consensus rating of “Moderate Buy” and a consensus price target of $232.68.

Insider Activity at Zscaler

In other news, insider Robert Schlossman sold 2,878 shares of the stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $199.15, for a total transaction of $573,153.70. Following the completion of the transaction, the insider now directly owns 107,587 shares in the company, valued at approximately $21,425,951.05. This represents a 2.61 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Ajay Mangal sold 190,480 shares of the firm’s stock in a transaction that occurred 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. The trade was a 6.87 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 199,234 shares of company stock valued at $39,970,790. Corporate insiders own 18.10% of the company’s stock.

Zscaler Stock Up 2.8 %

ZS opened at $215.73 on Wednesday. The firm’s 50 day moving average is $200.82 and its 200-day moving average is $192.83. Zscaler, Inc. has a 52-week low of $153.45 and a 52-week high of $217.84. The firm has a market capitalization of $33.38 billion, a P/E ratio of -862.92 and a beta of 0.88.

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.