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

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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.

View Our Latest Stock Report on Zscaler

Zscaler Company Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Zscaler (NASDAQ:ZS)

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