SouthState Corp Boosts Stake in Zscaler, Inc. (NASDAQ:ZS)

SouthState Corp grew its position in shares of Zscaler, Inc. (NASDAQ:ZS) by 4.4% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 27,738 shares of the company’s stock after acquiring an additional 1,170 shares during the period. SouthState Corp’s holdings in Zscaler were worth $5,004,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in ZS. Global X Japan Co. Ltd. grew its stake in shares of Zscaler by 127.4% in the 4th quarter. Global X Japan Co. Ltd. now owns 141 shares of the company’s stock worth $25,000 after buying an additional 79 shares during the last quarter. Stonebridge Financial Group LLC purchased a new stake in shares of Zscaler in the 4th quarter worth approximately $29,000. Prestige Wealth Management Group LLC purchased a new stake in shares of Zscaler in the 3rd quarter worth approximately $31,000. True Wealth Design LLC grew its stake in shares of Zscaler by 18,500.0% in the 3rd quarter. True Wealth Design LLC now owns 186 shares of the company’s stock worth $32,000 after buying an additional 185 shares during the last quarter. Finally, Versant Capital Management Inc grew its stake in shares of 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 buying an additional 104 shares during the last quarter. Hedge funds and other institutional investors own 46.45% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on ZS. Wells Fargo & Company upped their price target on Zscaler from $190.00 to $210.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 6th. Oppenheimer increased their target price on Zscaler from $230.00 to $250.00 and gave the company an “outperform” rating in a research note on Tuesday, December 3rd. Cantor Fitzgerald upgraded Zscaler to a “hold” rating in a research note on Monday, November 18th. Mizuho increased their target price on Zscaler from $210.00 to $225.00 and gave the company a “neutral” rating in a research note on Wednesday, February 12th. Finally, Morgan Stanley cut their target price on Zscaler from $215.00 to $205.00 and set an “equal weight” rating on the stock in a research note on Tuesday, December 3rd. Nine investment analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $233.88.

Zscaler Stock Performance

Shares of ZS stock opened at $197.81 on Monday. 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 $30.61 billion, a PE ratio of -791.24 and a beta of 0.88. The stock has a fifty day simple moving average of $198.14 and a two-hundred day simple moving average of $191.59.

Insiders Place Their Bets

In other news, CFO Remo Canessa sold 3,703 shares of the firm’s stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $200.32, for a total transaction of $741,784.96. Following the completion of the transaction, the chief financial officer now owns 220,635 shares in the company, valued at $44,197,603.20. This trade represents a 1.65 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Jagtar Singh Chaudhry sold 2,863 shares of the firm’s stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $200.32, for a total value of $573,516.16. Following the transaction, the chief executive officer now owns 358,569 shares of the company’s stock, valued at approximately $71,828,542.08. The trade was a 0.79 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 10,248 shares of company stock worth $2,052,879. Corporate insiders own 18.10% of the company’s stock.

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.