Arizona State Retirement System Raises Holdings in Zscaler, Inc. (NASDAQ:ZS)

Arizona State Retirement System lifted its stake in Zscaler, Inc. (NASDAQ:ZS) by 2.2% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 26,562 shares of the company’s stock after buying an additional 579 shares during the quarter. Arizona State Retirement System’s holdings in Zscaler were worth $4,792,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of ZS. Global X Japan Co. Ltd. grew its holdings 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 purchasing an additional 79 shares during the period. Stonebridge Financial Group LLC acquired a new stake in Zscaler in the fourth quarter valued at approximately $29,000. Prestige Wealth Management Group LLC acquired a new stake in Zscaler in the third quarter valued at approximately $31,000. Versant Capital Management Inc grew its holdings in Zscaler by 136.8% in the fourth 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 period. Finally, True Wealth Design LLC grew its holdings in Zscaler by 18,500.0% in the third quarter. True Wealth Design LLC now owns 186 shares of the company’s stock valued at $32,000 after purchasing an additional 185 shares during the period. Hedge funds and other institutional investors own 46.45% of the company’s stock.

Insider Activity at Zscaler

In related news, CEO Jagtar Singh Chaudhry sold 2,863 shares of the business’s stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $200.32, for a total transaction of $573,516.16. Following the completion of the transaction, the chief executive officer now directly owns 358,569 shares of the company’s stock, valued at $71,828,542.08. The trade was a 0.79 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Remo Canessa sold 3,703 shares of the business’s stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $200.32, for a total value of $741,784.96. Following the transaction, the chief financial officer now directly owns 220,635 shares of the company’s stock, valued at $44,197,603.20. The trade was a 1.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 10,248 shares of company stock worth $2,052,879. 18.10% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

ZS has been the topic of several research analyst reports. Citigroup reissued a “buy” rating and issued a $240.00 price objective (up from $235.00) on shares of Zscaler in a report on Wednesday. Royal Bank of Canada raised their price objective on Zscaler from $230.00 to $250.00 and gave the company an “outperform” rating in a report on Thursday. Susquehanna lifted their price target on Zscaler from $210.00 to $225.00 and gave the stock a “positive” rating in a research note on Tuesday, December 3rd. JPMorgan Chase & Co. lifted their price target on Zscaler from $240.00 to $250.00 and gave the stock an “overweight” rating in a research note on Thursday. Finally, Mizuho lifted their price target on Zscaler from $210.00 to $225.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 12th. Eight analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $234.29.

Zscaler Trading Up 3.3 %

ZS stock opened at $208.76 on Friday. The company has a market capitalization of $32.03 billion, a PE ratio of -835.04 and a beta of 0.88. Zscaler, Inc. has a 12-month low of $153.45 and a 12-month high of $217.84. The business’s fifty day moving average price is $196.78 and its 200 day moving average price is $191.70.

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.