Public Employees Retirement System of Ohio cut its position in shares of Zscaler, Inc. (NASDAQ:ZS – Free Report) by 41.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 29,077 shares of the company’s stock after selling 20,571 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Zscaler were worth $4,079,000 at the end of the most recent quarter.
Other institutional investors have also modified their holdings of the company. Oxbow Advisors LLC purchased a new stake in Zscaler during the 4th quarter worth about $2,939,000. Qsemble Capital Management LP raised its position in shares of Zscaler by 105.5% during the 4th quarter. Qsemble Capital Management LP now owns 15,773 shares of the company’s stock worth $3,548,000 after acquiring an additional 8,099 shares in the last quarter. Leonteq Securities AG purchased a new stake in Zscaler during the fourth quarter worth approximately $4,571,000. Norges Bank purchased a new stake in Zscaler during the fourth quarter worth approximately $79,762,000. Finally, Swedbank AB boosted its holdings in Zscaler by 92.8% in the fourth quarter. Swedbank AB now owns 20,706 shares of the company’s stock valued at $4,657,000 after purchasing an additional 9,966 shares in the last quarter. Institutional investors and hedge funds own 46.45% of the company’s stock.
Zscaler Trading Down 3.5%
Shares of ZS stock opened at $148.39 on Friday. The business’s fifty day moving average price is $141.17 and its 200 day moving average price is $154.35. The firm has a market capitalization of $24.00 billion, a PE ratio of -309.14, a P/E/G ratio of 88.12 and a beta of 0.96. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.86 and a quick ratio of 1.86. Zscaler, Inc. has a 1-year low of $114.63 and a 1-year high of $336.99.
Analyst Upgrades and Downgrades
Several equities analysts have commented on ZS shares. Cantor Fitzgerald reiterated an “overweight” rating and issued a $225.00 price target on shares of Zscaler in a research note on Wednesday, June 10th. Evercore set a $155.00 price objective on shares of Zscaler and gave the stock an “in-line” rating in a research report on Wednesday, May 27th. Wedbush restated an “outperform” rating and issued a $220.00 target price on shares of Zscaler in a report on Wednesday, June 10th. Citizens Jmp dropped their target price on shares of Zscaler from $290.00 to $210.00 and set a “market outperform” rating on the stock in a research report on Friday, May 1st. Finally, Morgan Stanley cut their price target on shares of Zscaler from $155.00 to $145.00 and set an “equal weight” rating on the stock in a research note on Wednesday, May 27th. Thirty-four equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Zscaler presently has an average rating of “Moderate Buy” and a consensus price target of $214.21.
Get Our Latest Report on Zscaler
Insider Activity at Zscaler
In other Zscaler news, insider Adam Geller sold 2,817 shares of the stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $122.60, for a total value of $345,364.20. Following the completion of the transaction, the insider directly owned 42,314 shares of the company’s stock, valued at approximately $5,187,696.40. This trade represents a 6.24% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Kevin Rubin sold 503 shares of Zscaler stock in a transaction that occurred on Monday, July 27th. The shares were sold at an average price of $147.12, for a total transaction of $74,001.36. Following the sale, the chief financial officer owned 41,398 shares of the company’s stock, valued at approximately $6,090,473.76. The trade was a 1.20% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 16,269 shares of company stock worth $2,052,589 over the last three months. 17.20% of the stock is currently owned by company insiders.
Zscaler Company Profile
Zscaler is a cloud security company that delivers a cloud-native platform to protect users, applications and data as organizations move away from traditional, network-centric security architectures. The company focuses on a zero trust approach that assumes no implicit trust for users or devices, providing secure access to the internet, SaaS applications and private applications regardless of where users are located. Zscaler positions its services as an alternative to legacy appliances and site-centric VPNs, aiming to simplify security while enabling modern, distributed workforces.
Key offerings are built around the Zscaler Zero Trust Exchange, a multi-tenant cloud platform that enforces security and access policies in-line.
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