California Public Employees Retirement System Has $19.50 Million Holdings in Zscaler, Inc. (NASDAQ:ZS)

California Public Employees Retirement System trimmed its stake in shares of Zscaler, Inc. (NASDAQ:ZS - Free Report) by 28.3% during the fourth quarter, according to its most recent disclosure 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 0.07% of Zscaler worth $19,495,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of ZS. The Manufacturers Life Insurance Company increased its position in shares of Zscaler by 9.1% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 6,969 shares of the company's stock worth $1,191,000 after purchasing an additional 581 shares in the last quarter. Captrust Financial Advisors grew its stake in Zscaler by 11.2% during the third quarter. Captrust Financial Advisors now owns 5,024 shares of the company's stock worth $859,000 after buying an additional 504 shares during the last quarter. Benjamin Edwards Inc. acquired a new stake in shares of Zscaler during the third quarter worth approximately $449,000. HighTower Advisors LLC boosted its holdings in shares of Zscaler by 4.1% in the 3rd quarter. HighTower Advisors LLC now owns 64,574 shares of the company's stock worth $11,064,000 after acquiring an additional 2,520 shares in the last quarter. Finally, Janus Henderson Group PLC grew its position in Zscaler by 9.0% during the 3rd quarter. Janus Henderson Group PLC now owns 9,444 shares of the company's stock worth $1,614,000 after acquiring an additional 782 shares during the last quarter. 46.45% of the stock is currently owned by institutional investors.

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Insider Activity at Zscaler

In other Zscaler news, CEO Jagtar Singh Chaudhry sold 2,155 shares of Zscaler stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $199.15, for a total value of $429,168.25. Following the sale, the chief executive officer now directly owns 356,414 shares in the company, valued at approximately $70,979,848.10. The trade was a 0.60 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Ajay Mangal sold 190,480 shares of the stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $200.69, for a total transaction of $38,227,431.20. Following the transaction, the insider now owns 2,580,210 shares of the company's stock, valued at approximately $517,822,344.90. This represents a 6.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 209,234 shares of company stock valued at $42,030,790. 18.10% of the stock is owned by corporate insiders.

Zscaler Price Performance

Shares of Zscaler stock traded up $5.39 on Monday, hitting $180.06. The company had a trading volume of 5,735,276 shares, compared to its average volume of 1,943,660. The stock has a 50-day moving average of $202.38 and a 200-day moving average of $194.78. Zscaler, Inc. has a twelve month low of $153.45 and a twelve month high of $217.84. The firm has a market capitalization of $27.86 billion, a P/E ratio of -720.24 and a beta of 1.12.

Analyst Ratings Changes

A number of research firms have commented on ZS. Needham & Company LLC reissued a "buy" rating and issued a $240.00 price objective on shares of Zscaler in a research note on Wednesday, March 5th. Sanford C. Bernstein reiterated an "outperform" rating and set a $244.00 price target on shares of Zscaler in a research report on Thursday, March 6th. Scotiabank reissued a "sector outperform" rating and set a $242.00 price objective (up previously from $225.00) on shares of Zscaler in a report on Wednesday, March 5th. Cantor Fitzgerald raised shares of Zscaler from a "neutral" rating to an "overweight" rating and boosted their target price for the stock from $220.00 to $250.00 in a research note on Thursday. Finally, The Goldman Sachs Group set a $207.00 price target on shares of Zscaler and gave the company a "neutral" rating in a research note on Thursday, March 6th. Eight analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $234.94.

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.