UniSuper Management Pty Ltd Trims Stake in Zscaler, Inc. (NASDAQ:ZS)

UniSuper Management Pty Ltd reduced its stake in Zscaler, Inc. (NASDAQ:ZS) by 14.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,800 shares of the company’s stock after selling 300 shares during the period. UniSuper Management Pty Ltd’s holdings in Zscaler were worth $325,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of ZS. Global X Japan Co. Ltd. boosted its holdings in shares of Zscaler by 127.4% during the 4th quarter. Global X Japan Co. Ltd. now owns 141 shares of the company’s stock valued at $25,000 after buying an additional 79 shares in the last quarter. Stonebridge Financial Group LLC purchased a new position in Zscaler during the 4th quarter valued at about $29,000. Prestige Wealth Management Group LLC bought a new stake in Zscaler during the third quarter worth about $31,000. True Wealth Design LLC grew its holdings in Zscaler by 18,500.0% in the third quarter. True Wealth Design LLC now owns 186 shares of the company’s stock worth $32,000 after purchasing an additional 185 shares during the period. Finally, Versant Capital Management Inc increased its stake in shares of Zscaler by 136.8% during the fourth quarter. Versant Capital Management Inc now owns 180 shares of the company’s stock valued at $32,000 after purchasing an additional 104 shares in the last quarter. 46.45% of the stock is owned by institutional investors.

Insider Activity at Zscaler

In other news, CEO Jagtar Singh Chaudhry sold 2,155 shares of the firm’s stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $199.15, for a total transaction of $429,168.25. Following the sale, the chief executive officer now directly owns 356,414 shares in the company, valued at $70,979,848.10. This trade represents a 0.60 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 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 completion of the transaction, the insider now directly owns 2,580,210 shares of the company’s stock, valued at $517,822,344.90. This represents a 6.87 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 199,234 shares of company stock worth $39,970,790. Corporate insiders own 18.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on ZS. Canaccord Genuity Group upped their price target on Zscaler from $220.00 to $230.00 and gave the stock a “buy” rating in a research note on Tuesday, December 3rd. Sanford C. Bernstein reissued an “outperform” rating and issued a $244.00 target price on shares of Zscaler in a research note on Thursday, March 6th. Susquehanna lifted their price target on Zscaler from $210.00 to $225.00 and gave the stock a “positive” rating in a research report on Tuesday, December 3rd. Wedbush increased their price objective on shares of Zscaler from $230.00 to $240.00 and gave the company an “outperform” rating in a research report on Thursday, March 6th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $240.00 target price on shares of Zscaler in a report on Wednesday, March 5th. Nine investment analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $232.52.

Zscaler Price Performance

Shares of ZS stock opened at $198.42 on Tuesday. The company has a market cap of $30.70 billion, a price-to-earnings ratio of -793.68 and a beta of 0.88. Zscaler, Inc. has a 1 year low of $153.45 and a 1 year high of $217.84. The firm has a fifty day moving average price of $202.30 and a 200-day moving average price of $194.12.

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.