Teachers Retirement System of The State of Kentucky Acquires 10,792 Shares of Zscaler, Inc. (NASDAQ:ZS)

Teachers Retirement System of The State of Kentucky raised its holdings in Zscaler, Inc. (NASDAQ:ZS - Free Report) by 26.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 51,818 shares of the company's stock after buying an additional 10,792 shares during the quarter. Teachers Retirement System of The State of Kentucky's holdings in Zscaler were worth $9,348,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. Zweig DiMenna Associates LLC raised its holdings in Zscaler by 29.8% in the 4th quarter. Zweig DiMenna Associates LLC now owns 77,941 shares of the company's stock worth $14,061,000 after purchasing an additional 17,900 shares in the last quarter. Baader Bank Aktiengesellschaft increased its stake in shares of Zscaler by 30.3% in the 4th quarter. Baader Bank Aktiengesellschaft now owns 8,400 shares of the company's stock worth $1,515,000 after acquiring an additional 1,952 shares in the last quarter. Everence Capital Management Inc. purchased a new position in Zscaler during the 4th quarter valued at about $565,000. SYM FINANCIAL Corp purchased a new stake in Zscaler in the fourth quarter worth about $303,000. Finally, Merit Financial Group LLC bought a new position in shares of Zscaler during the fourth quarter valued at approximately $787,000. 46.45% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Zscaler

In other news, major shareholder Ajay Mangal sold 190,480 shares of the business's stock in a transaction on Monday, March 17th. The shares were sold at an average price of $200.69, for a total transaction of $38,227,431.20. Following the completion of the sale, the insider now directly owns 2,580,210 shares of the company's stock, valued at approximately $517,822,344.90. The trade was a 6.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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 transaction of $429,168.25. Following the completion of the transaction, the chief executive officer now directly owns 356,414 shares in the company, valued at $70,979,848.10. This represents a 0.60 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 209,234 shares of company stock worth $42,030,790. Insiders own 18.10% of the company's stock.

Analyst Ratings Changes

ZS has been the topic of several recent analyst reports. Cantor Fitzgerald raised shares of Zscaler from a "neutral" rating to an "overweight" rating and increased their price objective for the company from $220.00 to $250.00 in a research report on Thursday, April 3rd. Wells Fargo & Company upped their price objective on Zscaler from $190.00 to $210.00 and gave the company an "equal weight" rating in a research report on Thursday, March 6th. BMO Capital Markets upped their price target on Zscaler from $222.00 to $233.00 and gave the company an "outperform" rating in a report on Thursday, March 6th. Morgan Stanley reduced their price target on shares of Zscaler from $205.00 to $200.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 16th. Finally, The Goldman Sachs Group set a $207.00 target price on shares of Zscaler and gave the stock a "neutral" rating in a research report on Thursday, March 6th. Eight investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Zscaler presently has a consensus rating of "Moderate Buy" and a consensus price target of $234.77.

Zscaler Stock Down 3.7 %

Shares of ZS opened at $193.70 on Tuesday. Zscaler, Inc. has a 52-week low of $153.45 and a 52-week high of $217.84. The company has a market cap of $29.97 billion, a PE ratio of -774.80 and a beta of 1.12. The business has a fifty day moving average of $199.99 and a 200 day moving average of $196.74.

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.

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