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

Ensign Peak Advisors Inc lowered its stake in shares of Zscaler, Inc. (NASDAQ:ZS) by 0.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 270,269 shares of the company’s stock after selling 2,028 shares during the period. Ensign Peak Advisors Inc’s holdings in Zscaler were worth $48,759,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Corebridge Financial Inc. grew its stake in Zscaler by 0.5% in the fourth quarter. Corebridge Financial Inc. now owns 11,695 shares of the company’s stock valued at $2,110,000 after purchasing an additional 54 shares during the last quarter. Erste Asset Management GmbH lifted its position in Zscaler by 0.6% during the fourth quarter. Erste Asset Management GmbH now owns 9,780 shares of the company’s stock valued at $1,805,000 after acquiring an additional 56 shares during the last quarter. KRS Capital Management LLC grew its holdings in 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 purchasing an additional 60 shares during the last quarter. Ironwood Investment Management LLC increased its position 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 worth $1,127,000 after purchasing an additional 64 shares in the last quarter. Finally, Smartleaf Asset Management LLC lifted its holdings in shares of Zscaler by 16.7% during the 4th 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.

Zscaler Price Performance

Shares of NASDAQ:ZS opened at $233.06 on Friday. The business’s 50 day moving average price is $205.63 and its 200-day moving average price is $199.90. Zscaler, Inc. has a 1 year low of $153.45 and a 1 year high of $235.67. The firm has a market capitalization of $36.06 billion, a PE ratio of -932.24 and a beta of 1.14.

Wall Street Analyst Weigh In

A number of research firms have commented on ZS. Royal Bank of Canada increased their price target on Zscaler from $230.00 to $250.00 and gave the company an “outperform” rating in a research note on Thursday, March 6th. Wells Fargo & Company upped their price target on shares of Zscaler from $190.00 to $210.00 and gave the company an “equal weight” rating in a research note on Thursday, March 6th. Needham & Company LLC reissued a “buy” rating and set a $240.00 price objective on shares of Zscaler in a report on Wednesday, March 5th. Sanford C. Bernstein restated an “outperform” rating and issued a $244.00 target price on shares of Zscaler in a research note on Thursday, March 6th. Finally, Roth Capital began coverage on Zscaler in a report on Wednesday, April 23rd. They issued a “neutral” rating and a $215.00 price objective on the stock. Eight investment analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $236.66.

Insiders Place Their Bets

In other Zscaler news, CEO Jagtar Singh Chaudhry sold 2,155 shares of Zscaler stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $199.15, for a total transaction of $429,168.25. Following the transaction, the chief executive officer now directly owns 356,414 shares of the company’s stock, valued at $70,979,848.10. The trade was a 0.60 % decrease in their ownership of the stock. 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 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 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. This trade represents a 6.87 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 209,234 shares of company stock valued at $42,030,790 in the last 90 days. 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.