Ensign Peak Advisors Inc Cuts Stock Position in Zscaler, Inc. (NASDAQ:ZS)

Ensign Peak Advisors Inc cut its position in Zscaler, Inc. (NASDAQ:ZS - Free Report) by 0.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 270,269 shares of the company's stock after selling 2,028 shares during the quarter. Ensign Peak Advisors Inc owned about 0.18% of Zscaler worth $48,759,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Corebridge Financial Inc. lifted its position in Zscaler by 0.5% during the 4th quarter. Corebridge Financial Inc. now owns 11,695 shares of the company's stock valued at $2,110,000 after acquiring an additional 54 shares during the period. Erste Asset Management GmbH lifted its stake in shares of Zscaler by 0.6% in the fourth quarter. Erste Asset Management GmbH now owns 9,780 shares of the company's stock worth $1,805,000 after buying an additional 56 shares in the last quarter. KRS Capital Management LLC lifted its stake in shares of Zscaler by 1.9% in the fourth quarter. KRS Capital Management LLC now owns 3,261 shares of the company's stock worth $588,000 after buying an additional 60 shares in the last quarter. Ironwood Investment Management LLC raised its holdings in shares of Zscaler by 1.0% during the fourth quarter. Ironwood Investment Management LLC now owns 6,249 shares of the company's stock valued at $1,127,000 after purchasing an additional 64 shares during the last quarter. Finally, Smartleaf Asset Management LLC raised its holdings in shares of Zscaler by 16.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 482 shares of the company's stock valued at $88,000 after purchasing an additional 69 shares during the last quarter. 46.45% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ZS has been the subject of a number of recent analyst reports. Roth Capital initiated coverage on shares of Zscaler in a research report on Wednesday, April 23rd. They issued a "neutral" rating and a $215.00 price target for the company. Rosenblatt Securities reiterated a "buy" rating and set a $235.00 price objective on shares of Zscaler in a research report on Tuesday, April 15th. BMO Capital Markets raised their price target on shares of Zscaler from $222.00 to $233.00 and gave the stock an "outperform" rating in a research note on Thursday, March 6th. BNP Paribas raised shares of Zscaler from a "neutral" rating to an "outperform" rating and set a $260.00 price target on the stock in a research note on Monday, April 28th. Finally, The Goldman Sachs Group set a $207.00 price target on shares of Zscaler and gave the stock a "neutral" rating in a research note on Thursday, March 6th. Eight equities research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $236.66.

Zscaler Price Performance

ZS traded up $8.42 during trading on Monday, reaching $241.48. 2,553,439 shares of the company's stock were exchanged, compared to its average volume of 2,017,303. Zscaler, Inc. has a 1 year low of $153.45 and a 1 year high of $241.74. The stock has a market capitalization of $37.36 billion, a P/E ratio of -965.92 and a beta of 1.14. The company's fifty day simple moving average is $206.53 and its 200-day simple moving average is $200.53.

Insiders Place Their Bets

In related news, insider Robert Schlossman sold 2,878 shares of the business's stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $199.15, for a total value of $573,153.70. Following the completion of the sale, the insider now owns 107,587 shares of the company's stock, valued at approximately $21,425,951.05. The trade was a 2.61% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Andrew William Fraser Brown sold 10,000 shares of the business's stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $206.00, for a total transaction of $2,060,000.00. Following the completion of the sale, the director now directly owns 27,216 shares of the company's stock, valued at approximately $5,606,496. The trade was a 26.87% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 209,234 shares of company stock valued at $42,030,790. 18.10% of the stock is owned by insiders.

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.