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

California Public Employees Retirement System trimmed its holdings in shares of Zscaler, Inc. (NASDAQ:ZS) by 28.3% in the fourth quarter, HoldingsChannel reports. 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’s holdings in Zscaler were worth $19,495,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the stock. Global X Japan Co. Ltd. lifted its stake in Zscaler by 127.4% during 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 in the last quarter. Summit Securities Group LLC acquired a new stake in shares of Zscaler during the fourth quarter valued at approximately $27,000. Stonebridge Financial Group LLC purchased a new stake in shares of Zscaler in the 4th quarter valued at approximately $29,000. Prestige Wealth Management Group LLC purchased a new stake in shares of Zscaler in the third quarter valued at $31,000. Finally, Versant Capital Management Inc lifted its stake in 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 acquiring an additional 104 shares in the last quarter. Institutional investors own 46.45% of the company’s stock.

Insider Buying and Selling

In other Zscaler news, Director Andrew William Fraser Brown sold 10,000 shares of the stock in a transaction dated 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 transaction, the director now owns 27,216 shares of the company’s stock, valued at approximately $5,606,496. This represents a 26.87 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Jagtar Singh Chaudhry sold 2,155 shares of the firm’s stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $199.15, for a total value of $429,168.25. Following the transaction, the chief executive officer now owns 356,414 shares in the company, valued at approximately $70,979,848.10. This trade represents a 0.60 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 209,234 shares of company stock worth $42,030,790 over the last three months. 18.10% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research firms recently issued reports on ZS. JPMorgan Chase & Co. lifted their price objective on Zscaler from $240.00 to $250.00 and gave the company an “overweight” rating in a research report on Thursday, March 6th. Bank of America raised shares of Zscaler from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $215.00 to $240.00 in a report on Friday, March 7th. Citigroup reaffirmed a “buy” rating and issued a $240.00 target price (up previously from $235.00) on shares of Zscaler in a report on Wednesday, March 5th. Cantor Fitzgerald upgraded shares of Zscaler from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $220.00 to $250.00 in a research report on Thursday. Finally, Scotiabank restated a “sector outperform” rating and issued a $242.00 target price (up from $225.00) on shares of Zscaler in a research note on Wednesday, March 5th. Eight investment 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’s stock. Based on data from MarketBeat.com, Zscaler currently has a consensus rating of “Moderate Buy” and an average price target of $234.94.

Zscaler Stock Performance

NASDAQ ZS opened at $174.67 on Friday. The stock has a market capitalization of $27.03 billion, a P/E ratio of -698.68 and a beta of 1.12. Zscaler, Inc. has a 52 week low of $153.45 and a 52 week high of $217.84. The stock has a fifty day moving average of $202.38 and a 200-day moving average of $194.43.

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.