California Public Employees Retirement System Decreases Stock Holdings in Zscaler, Inc. (NASDAQ:ZS)

California Public Employees Retirement System decreased its holdings in shares of Zscaler, Inc. (NASDAQ:ZS) by 28.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 108,058 shares of the company’s stock after selling 42,740 shares during the quarter. California Public Employees Retirement System owned about 0.07% of Zscaler worth $19,495,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Summit Securities Group LLC purchased a new position in Zscaler in the 4th quarter worth approximately $27,000. Allstate Corp acquired a new position in shares of Zscaler during the fourth quarter worth $480,000. Brown Brothers Harriman & Co. boosted its stake in shares of Zscaler by 315.2% in the fourth quarter. Brown Brothers Harriman & Co. now owns 685 shares of the company’s stock valued at $124,000 after purchasing an additional 520 shares during the period. DnB Asset Management AS grew its holdings in Zscaler by 66.8% during the 4th quarter. DnB Asset Management AS now owns 667,383 shares of the company’s stock valued at $120,403,000 after purchasing an additional 267,162 shares in the last quarter. Finally, Pictet Asset Management Holding SA lifted its holdings in Zscaler by 25.8% in the 4th quarter. Pictet Asset Management Holding SA now owns 1,618,176 shares of the company’s stock worth $291,935,000 after buying an additional 332,307 shares in the last quarter. 46.45% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, major shareholder Ajay Mangal sold 190,480 shares of the stock in a transaction that occurred on 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 completion of the transaction, the insider now directly owns 2,580,210 shares in the company, valued at $517,822,344.90. This trade represents a 6.87 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Andrew William Fraser Brown sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $206.00, for a total value of $2,060,000.00. Following the sale, the director now directly owns 27,216 shares in the company, valued at approximately $5,606,496. The trade was a 26.87 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 209,234 shares of company stock valued at $42,030,790. Company insiders own 18.10% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on ZS. Royal Bank of Canada raised their target price on Zscaler from $230.00 to $250.00 and gave the company an “outperform” rating in a research note on Thursday, March 6th. JPMorgan Chase & Co. upped their target price on Zscaler from $240.00 to $250.00 and gave the company an “overweight” rating in a research report on Thursday, March 6th. Jefferies Financial Group decreased their price target on shares of Zscaler from $245.00 to $240.00 and set a “buy” rating for the company in a research report on Monday, March 31st. Cantor Fitzgerald raised shares of Zscaler from a “neutral” rating to an “overweight” rating and upped their price target for the company from $220.00 to $250.00 in a report on Thursday. Finally, Mizuho raised their price objective on shares of Zscaler from $210.00 to $225.00 and gave the stock a “neutral” rating in a report on Wednesday, February 12th. Eight equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Zscaler presently has a consensus rating of “Moderate Buy” and a consensus target price of $234.94.

Zscaler Price Performance

Shares of Zscaler stock opened at $174.67 on Friday. Zscaler, Inc. has a 1-year low of $153.45 and a 1-year high of $217.84. The business’s fifty day moving average price is $202.38 and its two-hundred day moving average price is $194.43. The company has a market capitalization of $27.03 billion, a P/E ratio of -698.68 and a beta of 1.12.

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.