Maryland State Retirement & Pension System increased its holdings in shares of Zscaler, Inc. (NASDAQ:ZS – Free Report) by 9.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,746 shares of the company’s stock after buying an additional 392 shares during the period. Maryland State Retirement & Pension System’s holdings in Zscaler were worth $1,490,000 at the end of the most recent quarter.
Other institutional investors have also modified their holdings of the company. Parisi Gray Wealth Management purchased a new position in Zscaler in the second quarter valued at $801,000. GAMMA Investing LLC raised its position in Zscaler by 43.1% in the 1st quarter. GAMMA Investing LLC now owns 641 shares of the company’s stock valued at $127,000 after purchasing an additional 193 shares in the last quarter. Focus Partners Wealth raised its position in Zscaler by 2.5% in the 1st quarter. Focus Partners Wealth now owns 62,083 shares of the company’s stock valued at $12,319,000 after purchasing an additional 1,517 shares in the last quarter. Howe & Rusling Inc. increased its stake in shares of Zscaler by 17.1% during the first quarter. Howe & Rusling Inc. now owns 24,672 shares of the company’s stock worth $4,895,000 after buying an additional 3,611 shares during the period. Finally, Allworth Financial LP increased its stake in shares of Zscaler by 47.4% during the first quarter. Allworth Financial LP now owns 1,002 shares of the company’s stock worth $211,000 after buying an additional 322 shares during the period. Institutional investors and hedge funds own 46.45% of the company’s stock.
Zscaler Stock Performance
Shares of ZS stock opened at $309.88 on Friday. The stock’s 50-day moving average is $284.27 and its two-hundred day moving average is $267.38. The firm has a market cap of $49.05 billion, a price-to-earnings ratio of -1,147.70 and a beta of 1.06. Zscaler, Inc. has a 1 year low of $164.78 and a 1 year high of $319.89. The company has a debt-to-equity ratio of 0.95, a quick ratio of 2.01 and a current ratio of 2.01.
Analysts Set New Price Targets
Several research analysts have commented on ZS shares. Canaccord Genuity Group boosted their price target on shares of Zscaler from $320.00 to $340.00 and gave the stock a “buy” rating in a report on Thursday, September 4th. Royal Bank Of Canada lifted their price objective on shares of Zscaler from $335.00 to $350.00 and gave the stock an “outperform” rating in a research report on Thursday, October 2nd. Wedbush reaffirmed an “outperform” rating and set a $330.00 price objective on shares of Zscaler in a research report on Wednesday, September 3rd. Guggenheim reaffirmed a “neutral” rating on shares of Zscaler in a report on Wednesday, September 3rd. Finally, B. Riley began coverage on Zscaler in a report on Tuesday, August 26th. They set a “neutral” rating and a $275.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating, eight have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $307.43.
Check Out Our Latest Stock Analysis on ZS
Insider Buying and Selling at Zscaler
In other Zscaler news, EVP Raj Judge sold 4,524 shares of the firm’s stock in a transaction on Tuesday, September 16th. The shares were sold at an average price of $280.70, for a total transaction of $1,269,886.80. Following the transaction, the executive vice president directly owned 73,832 shares of the company’s stock, valued at approximately $20,724,642.40. This trade represents a 5.77% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Adam Geller sold 11,193 shares of the firm’s stock in a transaction on Tuesday, September 16th. The stock was sold at an average price of $280.70, for a total transaction of $3,141,875.10. Following the transaction, the insider directly owned 53,942 shares in the company, valued at $15,141,519.40. The trade was a 17.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 39,884 shares of company stock valued at $11,406,825. 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.
Further Reading
- Five stocks we like better than Zscaler
- Stock Ratings and Recommendations: Understanding Analyst Ratings
- Bassett Furniture: Buy Now, Sit Back, and Collect Dividends
- Best Energy Stocks – Energy Stocks to Buy Now
- AST SpaceMobile’s Big Win: Shares Soar on New Deal With Verizon
- How to Calculate Inflation Rate
- Catch the Next Bitcoin Rally With These 3 ETFs
Want to see what other hedge funds are holding ZS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Zscaler, Inc. (NASDAQ:ZS – Free Report).
Receive News & Ratings for Zscaler Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Zscaler and related companies with MarketBeat.com's FREE daily email newsletter.