Arizona State Retirement System Buys 2,269 Shares of Zscaler, Inc. (NASDAQ:ZS)

Arizona State Retirement System grew its stake in Zscaler, Inc. (NASDAQ:ZS - Free Report) by 8.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 28,831 shares of the company's stock after buying 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.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Geode Capital Management LLC increased its stake in shares of Zscaler by 2.0% in the 4th quarter. Geode Capital Management LLC now owns 1,658,406 shares of the company's stock valued at $298,710,000 after acquiring an additional 32,545 shares in the last quarter. Pictet Asset Management Holding SA increased its stake in Zscaler by 25.8% in the fourth quarter. Pictet Asset Management Holding SA now owns 1,618,176 shares of the company's stock valued at $291,935,000 after purchasing an additional 332,307 shares in the last quarter. AQR Capital Management LLC raised its holdings in shares of Zscaler by 120.1% during the fourth quarter. AQR Capital Management LLC now owns 964,031 shares of the company's stock valued at $173,921,000 after purchasing an additional 525,956 shares during the period. Artisan Partners Limited Partnership raised its holdings in shares of Zscaler by 30.9% during the fourth quarter. Artisan Partners Limited Partnership now owns 868,795 shares of the company's stock valued at $156,739,000 after purchasing an additional 204,996 shares during the period. Finally, DnB Asset Management AS grew its stake in shares of Zscaler by 66.8% in the 4th quarter. DnB Asset Management AS now owns 667,383 shares of the company's stock valued at $120,403,000 after buying an additional 267,162 shares during the period. Institutional investors and hedge funds own 46.45% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on ZS shares. Rosenblatt Securities upped their price target on Zscaler from $235.00 to $315.00 and gave the stock a "buy" rating in a research note on Friday, May 30th. Needham & Company LLC upped their target price on Zscaler from $240.00 to $310.00 and gave the stock a "buy" rating in a research report on Friday, May 30th. Wall Street Zen upgraded Zscaler from a "hold" rating to a "buy" rating in a report on Sunday, June 8th. Cantor Fitzgerald boosted their price target on shares of Zscaler from $290.00 to $340.00 and gave the company an "overweight" rating in a research note on Wednesday, June 11th. Finally, Jefferies Financial Group lowered their price objective on shares of Zscaler from $245.00 to $240.00 and set a "buy" rating on the stock in a report on Monday, March 31st. Eight investment 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's stock. According to data from MarketBeat.com, Zscaler presently has an average rating of "Moderate Buy" and a consensus target price of $296.82.

Insiders Place Their Bets

In related news, insider Robert Schlossman sold 3,174 shares of the company's stock in a transaction that occurred on Wednesday, June 18th. The shares were sold at an average price of $305.07, for a total transaction of $968,292.18. Following the sale, the insider directly owned 88,970 shares in the company, valued at approximately $27,142,077.90. This represents a 3.44% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Jagtar Singh Chaudhry sold 2,849 shares of the firm's stock in a transaction that occurred on Tuesday, June 17th. The stock was sold at an average price of $303.70, for a total transaction of $865,241.30. Following the completion of the transaction, the chief executive officer directly owned 353,565 shares of the company's stock, valued at approximately $107,377,690.50. This trade represents a 0.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 200,793 shares of company stock worth $58,752,794 in the last ninety days. 18.10% of the stock is owned by corporate insiders.

Zscaler Trading Down 0.5%

Shares of NASDAQ:ZS traded down $1.47 during mid-day trading on Thursday, reaching $286.29. The company had a trading volume of 2,161,241 shares, compared to its average volume of 2,068,944. Zscaler, Inc. has a one year low of $153.45 and a one year high of $318.46. The company's 50-day moving average price is $285.59 and its 200-day moving average price is $229.84. The firm has a market cap of $44.58 billion, a price-to-earnings ratio of -1,101.12 and a beta of 1.11.

Zscaler (NASDAQ:ZS - Get Free Report) last issued its earnings results on Thursday, May 29th. The company reported $0.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.08. Zscaler had a negative return on equity of 0.59% and a negative net margin of 1.52%. The firm had revenue of $678.03 million for the quarter, compared to analyst estimates of $667.13 million. During the same period in the previous year, the company posted $0.88 earnings per share. The business's revenue was up 22.6% on a year-over-year basis. On average, research analysts anticipate that Zscaler, Inc. will post -0.1 EPS for the current fiscal year.

Zscaler Company 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.