Kentucky Retirement Systems Takes $1.26 Million Position in Zscaler, Inc. (NASDAQ:ZS)

Kentucky Retirement Systems acquired a new stake in Zscaler, Inc. (NASDAQ:ZS - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 6,359 shares of the company's stock, valued at approximately $1,262,000.

A number of other institutional investors have also bought and sold shares of ZS. Quintet Private Bank Europe S.A. increased its position in Zscaler by 4.7% during the first quarter. Quintet Private Bank Europe S.A. now owns 1,120 shares of the company's stock worth $222,000 after purchasing an additional 50 shares during the last quarter. Corebridge Financial Inc. lifted its holdings in Zscaler by 0.5% in the fourth quarter. Corebridge Financial Inc. now owns 11,695 shares of the company's stock valued at $2,110,000 after acquiring an additional 54 shares during the last quarter. Erste Asset Management GmbH grew its position in Zscaler by 0.6% in the fourth quarter. Erste Asset Management GmbH now owns 9,780 shares of the company's stock worth $1,805,000 after acquiring an additional 56 shares during the period. Ironwood Investment Management LLC increased its stake in Zscaler by 1.0% during the fourth quarter. Ironwood Investment Management LLC now owns 6,249 shares of the company's stock worth $1,127,000 after acquiring an additional 64 shares during the last quarter. Finally, Smartleaf Asset Management LLC raised its position in Zscaler by 16.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 482 shares of the company's stock valued at $88,000 after purchasing an additional 69 shares during the period. 46.45% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have commented on ZS. Wells Fargo & Company raised shares of Zscaler from an "equal weight" rating to an "overweight" rating and upped their target price for the company from $260.00 to $385.00 in a research report on Friday, June 13th. Guggenheim restated a "neutral" rating on shares of Zscaler in a research note on Friday, May 30th. Jefferies Financial Group cut their price objective on Zscaler from $245.00 to $240.00 and set a "buy" rating on the stock in a report on Monday, March 31st. FBN Securities raised Zscaler to a "strong-buy" rating in a research report on Friday, May 30th. Finally, Bank of America increased their price target on shares of Zscaler from $285.00 to $340.00 and gave the stock a "buy" rating in a research report on Monday, June 9th. Eight 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 data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $294.03.

Zscaler Price Performance

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

Zscaler (NASDAQ:ZS - Get Free Report) last announced its earnings results on Thursday, May 29th. The company reported $0.84 EPS for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $667.13 million. During the same period in the prior year, the company earned $0.88 earnings per share. The business's revenue was up 22.6% compared to the same quarter last year. Equities research analysts predict that Zscaler, Inc. will post -0.1 earnings per share for the current year.

Insider Activity

In other Zscaler news, Director Andrew William Fraser Brown sold 10,000 shares of the firm's stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $206.00, for a total value of $2,060,000.00. Following the completion of the sale, the director now owns 27,216 shares of the company's stock, valued at approximately $5,606,496. This trade represents a 26.87% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jagtar Singh Chaudhry sold 2,849 shares of the firm'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 $865,241.30. Following the completion of the sale, the chief executive officer now owns 353,565 shares of the company's stock, valued at $107,377,690.50. This trade represents a 0.80% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 210,793 shares of company stock valued at $60,812,794 over the last quarter. Corporate insiders own 18.10% of the company's stock.

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.