New York State Common Retirement Fund Has $10.08 Million Stock Position in Zscaler, Inc. (NASDAQ:ZS)

New York State Common Retirement Fund grew its stake in shares of Zscaler, Inc. (NASDAQ:ZS - Free Report) by 1.8% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 50,774 shares of the company's stock after purchasing an additional 900 shares during the period. New York State Common Retirement Fund's holdings in Zscaler were worth $10,075,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in the stock. Quintet Private Bank Europe S.A. raised its stake in shares of Zscaler by 4.7% during the 1st quarter. Quintet Private Bank Europe S.A. now owns 1,120 shares of the company's stock worth $222,000 after buying an additional 50 shares during the last quarter. Corebridge Financial Inc. lifted its holdings in Zscaler by 0.5% in the 4th quarter. Corebridge Financial Inc. now owns 11,695 shares of the company's stock valued at $2,110,000 after purchasing an additional 54 shares in the last quarter. Cerity Partners LLC lifted its holdings in Zscaler by 0.3% in the 1st quarter. Cerity Partners LLC now owns 22,928 shares of the company's stock valued at $4,549,000 after purchasing an additional 68 shares in the last quarter. Koshinski Asset Management Inc. lifted its holdings in Zscaler by 2.6% in the 1st quarter. Koshinski Asset Management Inc. now owns 2,801 shares of the company's stock valued at $556,000 after purchasing an additional 70 shares in the last quarter. Finally, GSB Wealth Management LLC lifted its holdings in Zscaler by 3.5% in the 1st quarter. GSB Wealth Management LLC now owns 2,395 shares of the company's stock valued at $475,000 after purchasing an additional 80 shares in the last quarter. 46.45% of the stock is currently owned by hedge funds and other institutional investors.

Zscaler Trading Up 0.8%

ZS traded up $2.43 on Friday, reaching $288.72. The company had a trading volume of 1,819,101 shares, compared to its average volume of 2,071,037. The company has a fifty day moving average of $287.76 and a 200-day moving average of $231.30. The company has a market capitalization of $44.95 billion, a P/E ratio of -1,110.46 and a beta of 1.11. Zscaler, Inc. has a one year low of $153.45 and a one year high of $318.46.

Zscaler (NASDAQ:ZS - Get Free Report) last announced 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%. Zscaler's revenue was up 22.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.88 EPS. Research analysts predict that Zscaler, Inc. will post -0.1 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. JPMorgan Chase & Co. increased their target price on shares of Zscaler from $292.00 to $348.00 and gave the stock an "overweight" rating in a research report on Monday, June 16th. BTIG Research reissued a "buy" rating on shares of Zscaler in a research report on Thursday, July 10th. Truist Financial reissued a "buy" rating and set a $300.00 target price (up previously from $260.00) on shares of Zscaler in a research report on Friday, May 30th. KeyCorp increased their target price on shares of Zscaler from $290.00 to $310.00 and gave the stock an "overweight" rating in a research report on Friday, May 30th. Finally, Loop Capital increased their target price on shares of Zscaler from $250.00 to $260.00 and gave the stock a "hold" rating in a research report on Friday, May 30th. Eight analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $296.82.

Insiders Place Their Bets

In related news, insider Syam Nair sold 4,064 shares of the business's stock in a transaction that occurred on 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 transaction, the insider directly owned 106,659 shares of the company's stock, valued at approximately $32,392,338.30. The trade was a 3.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Adam Geller sold 3,662 shares of Zscaler stock in a transaction that occurred on Wednesday, June 18th. The shares were sold at an average price of $306.72, for a total transaction of $1,123,208.64. Following the completion of the sale, the insider owned 46,813 shares of the company's stock, valued at $14,358,483.36. This trade represents a 7.26% 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. Corporate insiders own 18.10% of the company's stock.

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.