Teacher Retirement System of Texas Invests $2.89 Million in Zscaler, Inc. (NASDAQ:ZS)

Teacher Retirement System of Texas purchased a new stake in Zscaler, Inc. (NASDAQ:ZS - Free Report) in the 1st quarter, according to its most recent filing with the SEC. The institutional investor purchased 14,580 shares of the company's stock, valued at approximately $2,893,000.

Several other large investors have also recently added to or reduced their stakes in the stock. Geode Capital Management LLC increased its position in shares of Zscaler by 2.0% during the fourth quarter. Geode Capital Management LLC now owns 1,658,406 shares of the company's stock worth $298,710,000 after acquiring an additional 32,545 shares during the last quarter. Pictet Asset Management Holding SA increased its position in shares of Zscaler by 25.8% during the fourth quarter. Pictet Asset Management Holding SA now owns 1,618,176 shares of the company's stock worth $291,935,000 after acquiring an additional 332,307 shares during the last quarter. AQR Capital Management LLC increased its position 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 worth $173,921,000 after acquiring an additional 525,956 shares during the last quarter. Artisan Partners Limited Partnership increased its position 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 worth $156,739,000 after acquiring an additional 204,996 shares during the last quarter. Finally, DnB Asset Management AS increased its position in shares of Zscaler by 66.8% during the fourth quarter. DnB Asset Management AS now owns 667,383 shares of the company's stock worth $120,403,000 after acquiring an additional 267,162 shares during the last quarter. 46.45% of the stock is currently owned by institutional investors and hedge funds.

Zscaler Stock Down 4.4%

ZS traded down $13.83 during trading on Thursday, reaching $302.67. The stock had a trading volume of 994,409 shares, compared to its average volume of 2,063,197. The firm has a market capitalization of $47.13 billion, a price-to-earnings ratio of -1,160.73 and a beta of 1.11. Zscaler, Inc. has a 1-year low of $153.45 and a 1-year high of $318.46. The stock has a 50 day moving average of $279.66 and a two-hundred day moving average of $226.24.

Zscaler (NASDAQ:ZS - Get Free Report) last posted its quarterly 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. The company had revenue of $678.03 million for the quarter, compared to analysts' expectations of $667.13 million. Zscaler had a negative return on equity of 0.59% and a negative net margin of 1.52%. The firm's revenue was up 22.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.88 earnings per share. On average, research analysts forecast that Zscaler, Inc. will post -0.1 EPS for the current fiscal year.

Insider Buying and Selling

In other Zscaler news, major shareholder Ajay Mangal sold 120,000 shares of the company's stock in a transaction 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 transaction, the insider owned 2,550,210 shares of the company's stock, valued at approximately $767,332,686.90. This represents a 4.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Andrew William Fraser Brown sold 20,333 shares of the company's stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $296.72, for a total value of $6,033,207.76. Following the completion of the transaction, the director directly owned 27,216 shares in the company, valued at $8,075,531.52. This represents a 42.76% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 200,793 shares of company stock valued at $58,752,794 in the last three months. Insiders own 18.10% of the company's stock.

Analysts Set New Price Targets

ZS has been the topic of a number of analyst reports. BMO Capital Markets lifted their target price on Zscaler from $233.00 to $295.00 and gave the stock an "outperform" rating in a research report on Friday, May 30th. Barclays lifted their target price on Zscaler from $275.00 to $290.00 and gave the stock an "overweight" rating in a research report on Friday, May 30th. Oppenheimer lifted their price target on Zscaler from $290.00 to $345.00 and gave the stock an "outperform" rating in a research note on Friday, June 6th. Royal Bank Of Canada lifted their price target on Zscaler from $288.00 to $304.00 and gave the stock an "outperform" rating in a research note on Friday, May 30th. Finally, UBS Group lifted their price target on Zscaler from $315.00 to $365.00 and gave the stock a "buy" rating in a research note on Friday, June 27th. Eight equities 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. Based on data from MarketBeat, Zscaler currently has an average rating of "Moderate Buy" and an average price target of $296.82.

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.