Corebridge Financial Inc. Raises Stock Position in Zscaler, Inc. (NASDAQ:ZS)

Corebridge Financial Inc. lifted its position in shares of Zscaler, Inc. (NASDAQ:ZS) by 0.5% in the fourth quarter, Holdings Channel reports. The institutional investor owned 11,695 shares of the company’s stock after acquiring 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 quarter.

Other institutional investors have also recently made changes to their positions in the company. Global X Japan Co. Ltd. lifted its position in 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 position in shares of Zscaler in the 4th quarter worth approximately $29,000. Prestige Wealth Management Group LLC purchased a new position in shares of Zscaler during the 3rd quarter worth approximately $31,000. Versant Capital Management Inc increased its holdings in Zscaler by 136.8% in the 4th quarter. Versant Capital Management Inc now owns 180 shares of the company’s stock valued at $32,000 after purchasing an additional 104 shares during the last quarter. Finally, Modus Advisors LLC purchased a new stake in Zscaler in the fourth quarter valued at approximately $36,000. Hedge funds and other institutional investors own 46.45% of the company’s stock.

Insider Activity at Zscaler

In other Zscaler news, 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 directly owns 107,587 shares in the company, valued at approximately $21,425,951.05. This trade represents a 2.61 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Jagtar Singh Chaudhry sold 2,155 shares of the stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $199.15, for a total value of $429,168.25. Following the sale, the chief executive officer now directly owns 356,414 shares of the company’s stock, valued at approximately $70,979,848.10. This represents a 0.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 199,234 shares of company stock worth $39,970,790 in the last 90 days. 18.10% of the stock is owned by insiders.

Zscaler Trading Up 1.3 %

Shares of NASDAQ ZS opened at $201.07 on Wednesday. The stock has a market cap of $31.11 billion, a P/E 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 stock has a 50 day moving average of $202.49 and a two-hundred day moving average of $194.34.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on ZS shares. Jefferies Financial Group lowered their price target on Zscaler from $245.00 to $240.00 and set a “buy” rating for the company in a research report on Monday. The Goldman Sachs Group set a $207.00 target price on Zscaler and gave the company a “neutral” rating in a research report on Thursday, March 6th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Zscaler from $200.00 to $225.00 and gave the stock a “buy” rating in a research report on Tuesday, December 3rd. UBS Group lifted their price objective on shares of Zscaler from $250.00 to $260.00 and gave the company a “buy” rating in a report on Thursday, March 6th. Finally, Susquehanna raised their price target on shares of Zscaler from $210.00 to $225.00 and gave the company a “positive” 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 currently has a consensus rating of “Moderate Buy” and an average target price of $232.35.

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.