Maryland State Retirement & Pension System Sells 173 Shares of Zscaler, Inc. (NASDAQ:ZS)

Maryland State Retirement & Pension System cut its holdings in Zscaler, Inc. (NASDAQ:ZS) by 3.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,067 shares of the company’s stock after selling 173 shares during the period. Maryland State Retirement & Pension System’s holdings in Zscaler were worth $914,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of ZS. Global X Japan Co. Ltd. raised its position in shares of Zscaler by 127.4% in the fourth 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 period. Stonebridge Financial Group LLC acquired a new position in Zscaler in the 4th quarter valued at $29,000. Prestige Wealth Management Group LLC acquired a new position in Zscaler in the 3rd quarter valued at $31,000. Versant Capital Management Inc raised its holdings in Zscaler by 136.8% in the 4th quarter. Versant Capital Management Inc now owns 180 shares of the company’s stock worth $32,000 after acquiring an additional 104 shares during the period. Finally, True Wealth Design LLC lifted its position in Zscaler by 18,500.0% during the 3rd quarter. True Wealth Design LLC now owns 186 shares of the company’s stock worth $32,000 after acquiring an additional 185 shares during the last quarter. 46.45% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Zscaler

In other news, major shareholder Ajay Mangal sold 190,480 shares of the firm’s stock in a transaction dated 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 owns 2,580,210 shares of the company’s stock, valued at $517,822,344.90. This trade represents a 6.87 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Jagtar Singh Chaudhry sold 2,155 shares of the business’s stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $199.15, for a total value of $429,168.25. Following the completion of the transaction, the chief executive officer now owns 356,414 shares of the company’s stock, valued at $70,979,848.10. This represents a 0.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 199,234 shares of company stock valued at $39,970,790. Corporate insiders own 18.10% of the company’s stock.

Zscaler Price Performance

Shares of NASDAQ:ZS opened at $205.20 on Monday. The firm’s 50 day simple moving average is $199.74 and its 200 day simple moving average is $192.08. Zscaler, Inc. has a fifty-two week low of $153.45 and a fifty-two week high of $217.84. The company has a market capitalization of $31.75 billion, a price-to-earnings ratio of -820.80 and a beta of 0.88.

Wall Street Analyst Weigh In

A number of research firms have recently commented on ZS. Bank of America upgraded Zscaler from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $215.00 to $240.00 in a research note on Friday, March 7th. JPMorgan Chase & Co. upped their price target on Zscaler from $240.00 to $250.00 and gave the stock an “overweight” rating in a report on Thursday, March 6th. Guggenheim reissued a “neutral” rating on shares of Zscaler in a research report on Tuesday, December 3rd. JMP Securities reaffirmed a “market outperform” rating and set a $240.00 target price (down previously from $270.00) on shares of Zscaler in a research report on Tuesday, December 3rd. Finally, Mizuho increased their price target on shares of Zscaler from $210.00 to $225.00 and gave the company a “neutral” rating in a report on Wednesday, February 12th. Nine analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $232.68.

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.