The California State Teachers Retirement System acquired 19.25 million additional shares of Zscaler, Inc. during the second quarter. This purchase represents a 13,837.9% increase in the pension fund's position. CalSTRS now owns 11.99% of the company. The total stake is valued at approximately $2.74 billion.
Wedbush recently reiterated an outperform rating on Zscaler with a $215 price target. The firm cited quarterly results that exceeded analyst expectations. Zscaler reported a 24.9% year-over-year increase in revenue for the fourth quarter.