Kentucky Retirement Systems Insurance Trust Fund Buys New Position in Zscaler, Inc. (NASDAQ:ZS)

Kentucky Retirement Systems Insurance Trust Fund bought a new stake in shares of Zscaler, Inc. (NASDAQ:ZS - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 2,709 shares of the company's stock, valued at approximately $538,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. ORG Partners LLC increased its position in Zscaler by 284.8% during the 1st quarter. ORG Partners LLC now owns 127 shares of the company's stock valued at $26,000 after buying an additional 94 shares in the last quarter. Summit Securities Group LLC purchased a new stake in shares of Zscaler in the fourth quarter worth $27,000. CVA Family Office LLC increased its holdings in shares of Zscaler by 120.3% during the first quarter. CVA Family Office LLC now owns 152 shares of the company's stock valued at $30,000 after acquiring an additional 83 shares in the last quarter. Colonial Trust Co SC purchased a new position in shares of Zscaler in the 4th quarter worth about $28,000. Finally, Thurston Springer Miller Herd & Titak Inc. boosted its stake in Zscaler by 295.0% in the 1st quarter. Thurston Springer Miller Herd & Titak Inc. now owns 158 shares of the company's stock worth $31,000 after purchasing an additional 118 shares in the last quarter. 46.45% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Susquehanna raised their price objective on shares of Zscaler from $245.00 to $320.00 and gave the company a "positive" rating in a research note on Friday, May 30th. Roth Capital restated a "neutral" rating on shares of Zscaler in a report on Wednesday, May 28th. Royal Bank Of Canada increased their target price on Zscaler from $288.00 to $304.00 and gave the company an "outperform" rating in a research note on Friday, May 30th. Mizuho boosted their price target on Zscaler from $275.00 to $290.00 and gave the stock a "neutral" rating in a research note on Wednesday, June 4th. Finally, Jefferies Financial Group reduced their price objective on Zscaler from $245.00 to $240.00 and set a "buy" rating for the company in a report on Monday, March 31st. Eight equities research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Zscaler has a consensus rating of "Moderate Buy" and a consensus price target of $294.03.

Zscaler Stock Up 1.1%

ZS traded up $3.52 during trading hours on Wednesday, reaching $311.98. 2,027,623 shares of the company's stock traded hands, compared to its average volume of 2,063,190. The firm has a 50-day moving average price of $256.58 and a 200 day moving average price of $217.65. The firm has a market capitalization of $48.58 billion, a PE ratio of -1,199.92 and a beta of 1.09. Zscaler, Inc. has a 52-week low of $153.45 and a 52-week high of $316.43.

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 analysts' consensus estimates of $0.76 by $0.08. The firm had revenue of $678.03 million during the quarter, compared to analyst estimates of $667.13 million. Zscaler had a negative net margin of 1.52% and a negative return on equity of 0.59%. The business's revenue was up 22.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.88 earnings per share. Equities analysts predict that Zscaler, Inc. will post -0.1 EPS for the current fiscal year.

Insiders Place Their Bets

In other Zscaler news, insider Adam Geller sold 3,662 shares of the business's stock in a transaction dated Wednesday, June 18th. The shares were sold at an average price of $306.72, for a total value of $1,123,208.64. Following the completion of the transaction, the insider now directly owns 46,813 shares in the company, valued at approximately $14,358,483.36. The trade was a 7.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Andrew William Fraser Brown sold 10,000 shares of Zscaler stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $206.00, for a total transaction of $2,060,000.00. Following the completion of the transaction, the director now directly owns 27,216 shares in the company, valued at approximately $5,606,496. The trade was a 26.87% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 210,793 shares of company stock worth $60,812,794 in the last three months. Corporate insiders own 18.10% of the company's stock.

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.