Zscaler, Inc. (NASDAQ:ZS) Shares Purchased by Arizona State Retirement System

Arizona State Retirement System raised its stake in Zscaler, Inc. (NASDAQ:ZS) by 8.5% in the 1st quarter, HoldingsChannel.com reports. The fund owned 28,831 shares of the company’s stock after purchasing an additional 2,269 shares during the period. Arizona State Retirement System’s holdings in Zscaler were worth $5,721,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in ZS. ORG Partners LLC grew its position in Zscaler by 284.8% during the 1st quarter. ORG Partners LLC now owns 127 shares of the company’s stock worth $26,000 after purchasing an additional 94 shares during the last quarter. Summit Securities Group LLC acquired a new stake in shares of Zscaler during the fourth quarter worth about $27,000. Colonial Trust Co SC purchased a new position in shares of Zscaler during the fourth quarter worth about $28,000. Goodman Advisory Group LLC acquired a new position in Zscaler in the 1st quarter valued at about $29,000. Finally, Elequin Capital LP acquired a new position in Zscaler in the 4th quarter valued at about $30,000. Hedge funds and other institutional investors own 46.45% of the company’s stock.

Zscaler Trading Up 0.5%

Shares of NASDAQ ZS opened at $291.14 on Tuesday. The company’s 50-day moving average price is $282.23 and its 200 day moving average price is $228.27. Zscaler, Inc. has a 52 week low of $153.45 and a 52 week high of $318.46. The stock has a market cap of $45.33 billion, a price-to-earnings ratio of -1,119.77 and a beta of 1.11.

Zscaler (NASDAQ:ZS) last released its quarterly earnings results on Thursday, May 29th. The company reported $0.84 EPS for the quarter, beating the consensus estimate of $0.76 by $0.08. Zscaler had a negative net margin of 1.52% and a negative return on equity of 0.59%. The business had revenue of $678.03 million for the quarter, compared to analyst estimates of $667.13 million. During the same period in the prior year, the business earned $0.88 earnings per share. The company’s quarterly revenue was up 22.6% on a year-over-year basis. As a group, research analysts expect that Zscaler, Inc. will post -0.1 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Susquehanna lifted their target price on Zscaler from $245.00 to $320.00 and gave the company a “positive” rating in a research note on Friday, May 30th. Scotiabank increased their price target on Zscaler from $310.00 to $360.00 and gave the stock a “sector outperform” rating in a report on Friday, June 6th. UBS Group lifted their price objective on shares of Zscaler from $315.00 to $365.00 and gave the company a “buy” rating in a research report on Friday, June 27th. Wedbush upped their price objective on shares of Zscaler from $240.00 to $300.00 and gave the stock an “outperform” rating in a research report on Friday, May 30th. Finally, Mizuho raised their target price on shares of Zscaler from $275.00 to $290.00 and gave the stock a “neutral” rating in a research note on Wednesday, June 4th. Eight research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Zscaler presently has a consensus rating of “Moderate Buy” and a consensus target price of $296.82.

Insider Activity

In related news, EVP Raj Judge sold 2,957 shares of Zscaler stock in a transaction dated Tuesday, June 17th. The stock was sold at an average price of $303.70, for a total transaction of $898,040.90. Following the completion of the sale, the executive vice president owned 76,289 shares in the company, valued at approximately $23,168,969.30. This trade represents a 3.73% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Syam Nair sold 4,064 shares of the company’s stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $303.70, for a total transaction of $1,234,236.80. Following the completion of the transaction, the insider owned 106,659 shares in the company, valued at approximately $32,392,338.30. This trade represents a 3.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 200,793 shares of company stock worth $58,752,794 in the last quarter. 18.10% of the stock is currently owned by corporate 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.