Teacher Retirement System of Texas Buys Shares of 14,580 Zscaler, Inc. (NASDAQ:ZS)

Teacher Retirement System of Texas bought a new stake in Zscaler, Inc. (NASDAQ:ZS - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 14,580 shares of the company's stock, valued at approximately $2,893,000.

Other large investors have also made changes to their positions in the company. ORG Partners LLC grew its stake in shares of Zscaler by 284.8% during the first quarter. ORG Partners LLC now owns 127 shares of the company's stock valued at $26,000 after purchasing an additional 94 shares during the last quarter. Summit Securities Group LLC bought a new stake in shares of Zscaler during the fourth quarter valued at approximately $27,000. Colonial Trust Co SC bought a new stake in shares of Zscaler during the fourth quarter valued at approximately $28,000. Goodman Advisory Group LLC bought a new stake in shares of Zscaler during the first quarter valued at approximately $29,000. Finally, Elequin Capital LP bought a new stake in shares of Zscaler during the fourth quarter valued at approximately $30,000. Institutional investors own 46.45% of the company's stock.

Zscaler Stock Up 1.3%

ZS traded up $4.06 during midday trading on Wednesday, hitting $316.50. The company had a trading volume of 1,680,969 shares, compared to its average volume of 2,064,929. Zscaler, Inc. has a 52 week low of $153.45 and a 52 week high of $318.46. The company has a market capitalization of $49.28 billion, a price-to-earnings ratio of -1,217.31 and a beta of 1.11. The stock's 50 day moving average price is $277.85 and its 200 day moving average price is $225.62.

Zscaler (NASDAQ:ZS - Get Free Report) last posted its quarterly earnings results on Thursday, May 29th. The company reported $0.84 earnings per share for the quarter, beating the consensus estimate of $0.76 by $0.08. The firm had revenue of $678.03 million during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.88 earnings per share. Research analysts predict that Zscaler, Inc. will post -0.1 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Canaccord Genuity Group set a $305.00 price objective on shares of Zscaler and gave the company a "buy" rating in a research note on Monday, June 2nd. Guggenheim reaffirmed a "neutral" rating on shares of Zscaler in a research note on Friday, May 30th. Roth Capital reaffirmed a "neutral" rating on shares of Zscaler in a research note on Wednesday, May 28th. Stifel Nicolaus lifted their price target on shares of Zscaler from $270.00 to $295.00 and gave the stock a "buy" rating in a research report on Friday, May 30th. Finally, BNP Paribas upgraded shares of Zscaler from a "neutral" rating to an "outperform" rating and set a $260.00 price objective on the stock in a report on Monday, April 28th. Eight research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $296.82.

Insider Activity at Zscaler

In other news, CEO Jagtar Singh Chaudhry sold 2,849 shares of the business'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 directly owned 353,565 shares of the company's stock, valued at $107,377,690.50. The trade was a 0.80% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Adam Geller sold 3,662 shares of the business's stock in a transaction dated 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 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 200,793 shares of company stock valued at $58,752,794 over the last quarter. 18.10% of the stock is currently owned by company insiders.

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.