Mitsubishi UFJ Asset Management Co. Ltd. Has $20.12 Million Stock Holdings in Zscaler, Inc. (NASDAQ:ZS)

Mitsubishi UFJ Asset Management Co. Ltd. reduced its position in shares of Zscaler, Inc. (NASDAQ:ZS) by 4.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 108,257 shares of the company’s stock after selling 5,075 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Zscaler were worth $20,118,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in ZS. Raymond James Financial Inc. acquired a new stake in shares of Zscaler in the fourth quarter valued at about $28,072,000. Trivest Advisors Ltd boosted its holdings in Zscaler by 95.3% in the fourth quarter. Trivest Advisors Ltd now owns 250,000 shares of the company’s stock valued at $45,102,000 after acquiring an additional 122,000 shares during the last quarter. Korea Investment CORP increased its position in Zscaler by 144.3% during the 4th quarter. Korea Investment CORP now owns 136,160 shares of the company’s stock valued at $24,565,000 after purchasing an additional 80,416 shares during the period. Assenagon Asset Management S.A. raised its holdings in Zscaler by 59.7% during the 4th quarter. Assenagon Asset Management S.A. now owns 190,794 shares of the company’s stock worth $34,421,000 after purchasing an additional 71,297 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of Zscaler by 3.9% in the 3rd quarter. Geode Capital Management LLC now owns 1,625,861 shares of the company’s stock worth $277,327,000 after purchasing an additional 60,414 shares during the period. Institutional investors and hedge funds own 46.45% of the company’s stock.

Zscaler Stock Performance

Zscaler stock opened at $207.14 on Monday. Zscaler, Inc. has a fifty-two week low of $153.45 and a fifty-two week high of $217.84. The firm’s 50-day simple moving average is $202.08 and its 200 day simple moving average is $193.89. The stock has a market cap of $32.05 billion, a PE ratio of -828.56 and a beta of 0.88.

Insiders Place Their Bets

In related news, major shareholder Ajay Mangal sold 190,480 shares of the business’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $200.69, for a total value of $38,227,431.20. Following the transaction, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Robert Schlossman sold 2,878 shares of the firm’s stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $199.15, for a total transaction of $573,153.70. Following the sale, the insider now owns 107,587 shares of the company’s stock, valued at $21,425,951.05. This trade represents a 2.61 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 199,234 shares of company stock valued at $39,970,790 in the last 90 days. 18.10% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on ZS shares. UBS Group lifted their target price 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. Citigroup reissued a “buy” rating and issued a $240.00 price objective (up from $235.00) on shares of Zscaler in a research note on Wednesday, March 5th. Mizuho raised their target price on Zscaler from $210.00 to $225.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 12th. Wedbush boosted their price target on Zscaler from $230.00 to $240.00 and gave the company an “outperform” rating in a research note on Thursday, March 6th. Finally, KeyCorp raised their price objective on shares of Zscaler from $245.00 to $250.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 3rd. Nine research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. According to MarketBeat.com, Zscaler presently has a consensus rating of “Moderate Buy” and an average target price of $232.68.

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.