Teachers Retirement System of The State of Kentucky Increases Stake in Zscaler, Inc. (NASDAQ:ZS)

Teachers Retirement System of The State of Kentucky increased its stake in shares of Zscaler, Inc. (NASDAQ:ZS - Free Report) by 26.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor 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.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Thematics Asset Management raised its position in shares of Zscaler by 10.2% in the fourth quarter. Thematics Asset Management now owns 162,000 shares of the company's stock valued at $29,226,000 after purchasing an additional 15,000 shares during the period. Natixis purchased a new stake in shares of Zscaler during the 4th quarter valued at $87,775,000. Ostrum Asset Management lifted its stake in Zscaler by 20.9% during the fourth quarter. Ostrum Asset Management now owns 797 shares of the company's stock worth $144,000 after purchasing an additional 138 shares during the last quarter. Norinchukin Bank The boosted its stake in Zscaler by 9.7% in the fourth quarter. Norinchukin Bank The now owns 1,524 shares of the company's stock worth $275,000 after buying an additional 135 shares in the last quarter. Finally, Ossiam grew its holdings in shares of Zscaler by 37.6% during the 4th quarter. Ossiam now owns 2,637 shares of the company's stock valued at $476,000 after purchasing an additional 721 shares during the last quarter. 46.45% of the stock is owned by hedge funds and other institutional investors.

Zscaler Stock Performance

Shares of NASDAQ ZS traded up $5.44 during trading on Friday, hitting $215.58. The company had a trading volume of 2,884,983 shares, compared to its average volume of 1,992,800. Zscaler, Inc. has a 12 month low of $153.45 and a 12 month high of $217.84. The firm has a market capitalization of $33.36 billion, a P/E ratio of -862.32 and a beta of 1.12. The stock has a 50 day simple moving average of $199.30 and a 200 day simple moving average of $197.39.

Insider Buying and Selling

In related news, Director Andrew William Fraser Brown sold 10,000 shares of the stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $206.00, for a total value 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Ajay Mangal sold 190,480 shares of the stock in a transaction that occurred 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 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. 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 corporate insiders.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Robert W. Baird raised their target price on Zscaler from $240.00 to $250.00 and gave the stock an "outperform" rating in a research note on Thursday, March 6th. BMO Capital Markets increased their price objective on Zscaler from $222.00 to $233.00 and gave the stock an "outperform" rating in a report on Thursday, March 6th. Wells Fargo & Company boosted their target price on shares of Zscaler from $190.00 to $210.00 and gave the company an "equal weight" rating in a report on Thursday, March 6th. Roth Capital assumed coverage on shares of Zscaler in a research note on Wednesday. They issued a "neutral" rating and a $215.00 price target for the company. Finally, Mizuho lifted their price target on shares of Zscaler from $210.00 to $225.00 and gave the company a "neutral" rating in a research report on Wednesday, February 12th. Nine equities research 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 company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $234.16.

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.