Royal London Asset Management Ltd. Purchases 10,358 Shares of Zscaler, Inc. (NASDAQ:ZS)

Royal London Asset Management Ltd. grew its position in shares of Zscaler, Inc. (NASDAQ:ZS) by 30.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 43,952 shares of the company’s stock after buying an additional 10,358 shares during the quarter. Royal London Asset Management Ltd.’s holdings in Zscaler were worth $7,929,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Global X Japan Co. Ltd. raised 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 buying an additional 79 shares during the last quarter. Stonebridge Financial Group LLC acquired a new stake in Zscaler in the 4th quarter valued at about $29,000. Prestige Wealth Management Group LLC bought a new position in shares of Zscaler in the third quarter worth about $31,000. Versant Capital Management Inc raised its position in 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 purchasing an additional 104 shares during the last quarter. Finally, True Wealth Design LLC raised its position in shares of 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 acquiring an additional 185 shares during the last quarter. Institutional investors and hedge funds own 46.45% of the company’s stock.

Analysts Set New Price Targets

ZS has been the topic of several recent research reports. Rosenblatt Securities raised shares of Zscaler from a “neutral” rating to a “buy” rating and raised their target price for the company from $190.00 to $235.00 in a research note on Thursday, March 6th. JMP Securities reaffirmed a “market outperform” rating and set a $240.00 target price (down previously from $270.00) on shares of Zscaler in a report on Tuesday, December 3rd. KeyCorp upped their target price on shares of Zscaler from $245.00 to $250.00 and gave the company an “overweight” rating in a research report on Tuesday, December 3rd. UBS Group raised their price target on Zscaler from $250.00 to $260.00 and gave the stock a “buy” rating in a research report on Thursday, March 6th. Finally, Morgan Stanley began coverage on Zscaler in a report on Tuesday, March 18th. They issued an “equal weight” rating for the company. Nine research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Zscaler currently has an average rating of “Moderate Buy” and a consensus target price of $232.68.

Zscaler Stock Performance

Shares of NASDAQ ZS opened at $205.20 on Monday. The stock has a market capitalization of $31.75 billion, a PE ratio of -820.80 and a beta of 0.88. Zscaler, Inc. has a 52 week low of $153.45 and a 52 week high of $217.84. The stock has a 50 day moving average price of $199.74 and a 200 day moving average price of $192.08.

Insider Activity

In other Zscaler news, major shareholder Ajay Mangal sold 190,480 shares of the company’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 value of $38,227,431.20. Following the sale, the insider now owns 2,580,210 shares in the company, valued at $517,822,344.90. This represents a 6.87 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Robert Schlossman sold 2,878 shares of Zscaler stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $199.15, for a total value of $573,153.70. Following the transaction, the insider now owns 107,587 shares of the company’s stock, valued at $21,425,951.05. This represents a 2.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 199,234 shares of company stock valued at $39,970,790. 18.10% of the stock is owned by insiders.

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.