Public Employees Retirement Association of Colorado Trims Stock Position in Zscaler, Inc. (NASDAQ:ZS)

Public Employees Retirement Association of Colorado lessened its stake in shares of Zscaler, Inc. (NASDAQ:ZS - Free Report) by 20.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 59,624 shares of the company's stock after selling 15,100 shares during the quarter. Public Employees Retirement Association of Colorado's holdings in Zscaler were worth $10,757,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of ZS. Global X Japan Co. Ltd. raised its position in Zscaler by 127.4% in the 4th 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 last quarter. Summit Securities Group LLC purchased a new stake in Zscaler in the 4th quarter valued at $27,000. Stonebridge Financial Group LLC purchased a new stake in Zscaler in the 4th quarter valued at $29,000. Versant Capital Management Inc raised its position in Zscaler by 136.8% in the 4th 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 last quarter. Finally, Modus Advisors LLC purchased a new stake in Zscaler in the 4th quarter valued at $36,000. Hedge funds and other institutional investors own 46.45% of the company's stock.

Zscaler Stock Performance

Shares of ZS opened at $219.86 on Tuesday. The stock has a fifty day moving average of $199.41 and a two-hundred day moving average of $197.54. The company has a market capitalization of $34.02 billion, a PE ratio of -879.44 and a beta of 1.12. Zscaler, Inc. has a fifty-two week low of $153.45 and a fifty-two week high of $221.50.

Insider Transactions at Zscaler

In related news, Director Andrew William Fraser Brown sold 10,000 shares of the company's stock in a transaction on Wednesday, April 2nd. The shares were 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. This represents a 26.87 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Ajay Mangal sold 190,480 shares of the company's stock in a transaction on 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 sale, the insider now directly owns 2,580,210 shares of the company's stock, valued at approximately $517,822,344.90. This trade represents a 6.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 209,234 shares of company stock worth $42,030,790 in the last ninety days. Insiders own 18.10% of the company's stock.

Analysts Set New Price Targets

ZS has been the subject of several research reports. Cantor Fitzgerald upgraded shares of Zscaler from a "neutral" rating to an "overweight" rating and upped their price target for the company from $220.00 to $250.00 in a research report on Thursday, April 3rd. Citigroup reiterated a "buy" rating and set a $240.00 price target (up from $235.00) on shares of Zscaler in a research note on Wednesday, March 5th. BMO Capital Markets raised their price objective on shares of Zscaler from $222.00 to $233.00 and gave the company an "outperform" rating in a research report on Thursday, March 6th. Needham & Company LLC reaffirmed a "buy" rating and issued a $240.00 price objective on shares of Zscaler in a report on Wednesday, March 5th. Finally, Bank of America raised Zscaler from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $215.00 to $240.00 in a report on Friday, March 7th. Eight investment analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Zscaler has a consensus rating of "Moderate Buy" and an average price target of $236.66.

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.

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