Corebridge Financial Inc. Buys 54 Shares of Zscaler, Inc. (NASDAQ:ZS)

Corebridge Financial Inc. boosted its position in Zscaler, Inc. (NASDAQ:ZS) by 0.5% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 11,695 shares of the company’s stock after purchasing an additional 54 shares during the quarter. Corebridge Financial Inc.’s holdings in Zscaler were worth $2,110,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Congress Wealth Management LLC DE purchased a new stake in Zscaler during the fourth quarter valued at approximately $221,000. Fox Run Management L.L.C. acquired a new stake in shares of Zscaler in the 4th quarter worth $1,671,000. KLP Kapitalforvaltning AS acquired a new stake in shares of Zscaler in the 4th quarter worth $5,845,000. Vestor Capital LLC purchased a new position in Zscaler during the 4th quarter worth $2,504,000. Finally, Quantbot Technologies LP acquired a new position in Zscaler during the 4th quarter valued at about $336,000. 46.45% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on ZS shares. Mizuho boosted their price target on Zscaler from $210.00 to $225.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 12th. Oppenheimer boosted 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 Tuesday, December 3rd. BMO Capital Markets lifted their price objective on shares of Zscaler from $222.00 to $233.00 and gave the stock an “outperform” rating in a research note on Thursday, March 6th. Guggenheim reissued a “neutral” rating on shares of Zscaler in a research report on Tuesday, December 3rd. Finally, Royal Bank of Canada lifted their price target on Zscaler from $230.00 to $250.00 and gave the stock an “outperform” rating in a research report on Thursday, March 6th. 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, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $232.35.

Zscaler Stock Up 1.3 %

ZS opened at $201.07 on Wednesday. The company has a market cap of $31.11 billion, a PE ratio of -804.28 and a beta of 0.88. Zscaler, Inc. has a twelve month low of $153.45 and a twelve month high of $217.84. The company has a 50-day moving average price of $202.49 and a 200 day moving average price of $194.34.

Insiders Place Their Bets

In other Zscaler news, CEO Jagtar Singh Chaudhry sold 2,155 shares of the stock in a transaction dated 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 in the company, valued at approximately $70,979,848.10. This represents a 0.60 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Ajay Mangal sold 190,480 shares of the business’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 transaction, the insider now owns 2,580,210 shares in the company, valued at approximately $517,822,344.90. This represents a 6.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 199,234 shares of company stock worth $39,970,790. Corporate insiders own 18.10% of the company’s stock.

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.