State of New Jersey Common Pension Fund D Has $6.48 Million Holdings in Zscaler, Inc. $ZS

Key Points

• The State of New Jersey Common Pension Fund D reduced its holdings in Zscaler, Inc. by 2.9%, now owning 32,637 shares valued at approximately $6.48 million.
• Zscaler reported a quarterly earnings per share of $0.84, beating analysts' expectations, and had a revenue increase of 22.6% year-over-year.
• Research analysts have positive outlooks for Zscaler, with a consensus target price of $296.82 and several firms rating it as a "buy" or "outperform."

State of New Jersey Common Pension Fund D trimmed its holdings in Zscaler, Inc. (NASDAQ:ZS - Free Report) by 2.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 32,637 shares of the company's stock after selling 959 shares during the period. State of New Jersey Common Pension Fund D's holdings in Zscaler were worth $6,476,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in the stock. Quintet Private Bank Europe S.A. raised its position in shares of Zscaler by 4.7% in the 1st quarter. Quintet Private Bank Europe S.A. now owns 1,120 shares of the company's stock valued at $222,000 after buying an additional 50 shares in the last quarter. Cerity Partners LLC increased its stake in Zscaler by 0.3% in the first quarter. Cerity Partners LLC now owns 22,928 shares of the company's stock valued at $4,549,000 after acquiring an additional 68 shares during the last quarter. Koshinski Asset Management Inc. raised its position in Zscaler by 2.6% during the first 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. Choreo LLC lifted its stake in Zscaler by 2.7% during the first quarter. Choreo LLC now owns 2,909 shares of the company's stock worth $577,000 after purchasing an additional 76 shares during the last quarter. Finally, GSB Wealth Management LLC boosted its holdings in shares of 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 institutional investors.

Zscaler Stock Up 0.7%

NASDAQ ZS opened at $277.03 on Tuesday. Zscaler, Inc. has a 52 week low of $153.45 and a 52 week high of $318.46. The business has a 50 day moving average price of $294.56 and a 200-day moving average price of $245.19. The company has a market cap of $43.13 billion, a price-to-earnings ratio of -1,065.50, a P/E/G ratio of 246.53 and a beta of 1.06.

Zscaler (NASDAQ:ZS - Get Free Report) last announced its quarterly 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 analyst estimates of $667.13 million. During the same quarter in the previous year, the business posted $0.88 EPS. Zscaler's quarterly revenue was up 22.6% on a year-over-year basis. On average, equities research analysts anticipate that Zscaler, Inc. will post -0.1 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have issued reports on ZS. Royal Bank Of Canada lifted their target price on Zscaler from $288.00 to $304.00 and gave the company an "outperform" rating in a research report on Friday, May 30th. Barclays raised their price target on shares of Zscaler from $275.00 to $290.00 and gave the company an "overweight" rating in a research note on Friday, May 30th. Needham & Company LLC upped their price objective on shares of Zscaler from $240.00 to $310.00 and gave the stock a "buy" rating in a research report on Friday, May 30th. Guggenheim restated a "neutral" rating on shares of Zscaler in a research report on Friday, May 30th. Finally, JPMorgan Chase & Co. upped their price target on shares of Zscaler from $292.00 to $348.00 and gave the stock an "overweight" rating in a report on Monday, June 16th. Seven 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 stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $296.82.

Insiders Place Their Bets

In other Zscaler news, insider Adam Geller sold 3,662 shares of the business's stock in a transaction that occurred on Wednesday, June 18th. The stock was 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 directly owned 46,813 shares of the company's stock, valued at approximately $14,358,483.36. The trade was a 7.26% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Ajay Mangal sold 120,000 shares of the stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $300.89, for a total value of $36,106,800.00. Following the completion of the sale, the insider directly owned 2,550,210 shares of the company's stock, valued at approximately $767,332,686.90. This trade represents a 4.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 168,256 shares of company stock worth $50,618,544 in the last 90 days. Company 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.

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