New York State Common Retirement Fund Sells 8,006 Shares of Zscaler, Inc. (NASDAQ:ZS)

New York State Common Retirement Fund decreased its holdings in Zscaler, Inc. (NASDAQ:ZS - Free Report) by 10.7% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 66,521 shares of the company's stock after selling 8,006 shares during the quarter. New York State Common Retirement Fund's holdings in Zscaler were worth $14,738,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of ZS. BluePath Capital Management LLC purchased a new position in shares of Zscaler in the third quarter worth approximately $32,000. Livforsakringsbolaget Skandia Omsesidigt raised its stake in Zscaler by 109.0% during the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 209 shares of the company's stock worth $46,000 after acquiring an additional 109 shares during the period. Lindbrook Capital LLC raised its stake in Zscaler by 41.1% during the 4th quarter. Lindbrook Capital LLC now owns 237 shares of the company's stock worth $53,000 after acquiring an additional 69 shares during the period. Allworth Financial LP raised its stake in Zscaler by 175.4% during the 4th quarter. Allworth Financial LP now owns 380 shares of the company's stock worth $84,000 after acquiring an additional 242 shares during the period. Finally, Advisors Preferred LLC bought a new stake in Zscaler during the 4th quarter worth approximately $102,000. Hedge funds and other institutional investors own 46.45% of the company's stock.

Insiders Place Their Bets

In other Zscaler news, CFO Remo Canessa sold 7,707 shares of the company's stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $193.15, for a total value of $1,488,607.05. Following the sale, the chief financial officer now owns 255,943 shares in the company, valued at approximately $49,435,390.45. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Zscaler news, CFO Remo Canessa sold 7,707 shares of the company's stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $193.15, for a total value of $1,488,607.05. Following the sale, the chief financial officer now owns 255,943 shares in the company, valued at approximately $49,435,390.45. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Jagtar Singh Chaudhry sold 2,115 shares of the company's stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $193.15, for a total value of $408,512.25. Following the completion of the sale, the chief executive officer now owns 367,152 shares in the company, valued at approximately $70,915,408.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 26,715 shares of company stock worth $5,865,882. Corporate insiders own 19.20% of the company's stock.

Zscaler Stock Down 3.4 %

Shares of ZS traded down $6.10 during mid-day trading on Tuesday, hitting $172.94. 1,652,393 shares of the company traded hands, compared to its average volume of 2,201,910. Zscaler, Inc. has a 1-year low of $84.93 and a 1-year high of $259.61. The company has a quick ratio of 1.98, a current ratio of 1.98 and a debt-to-equity ratio of 1.19. The company has a market capitalization of $25.92 billion, a PE ratio of -182.04 and a beta of 0.81. The business has a 50 day moving average of $197.03 and a 200 day moving average of $203.74.

Zscaler (NASDAQ:ZS - Get Free Report) last issued its earnings results on Thursday, February 29th. The company reported ($0.16) EPS for the quarter, beating analysts' consensus estimates of ($0.24) by $0.08. The firm had revenue of $525.00 million for the quarter, compared to analyst estimates of $507.56 million. Zscaler had a negative return on equity of 14.60% and a negative net margin of 7.32%. Equities research analysts anticipate that Zscaler, Inc. will post -0.8 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on ZS shares. KeyCorp upgraded shares of Zscaler from a "sector weight" rating to an "overweight" rating and set a $220.00 price objective on the stock in a research report on Thursday, April 18th. Truist Financial restated a "buy" rating and issued a $260.00 price target on shares of Zscaler in a research report on Monday, April 1st. Cantor Fitzgerald restated a "neutral" rating and issued a $230.00 price target on shares of Zscaler in a research report on Wednesday, April 17th. Rosenblatt Securities boosted their price target on shares of Zscaler from $285.00 to $290.00 and gave the stock a "buy" rating in a research report on Friday, March 1st. Finally, Oppenheimer boosted their price target on shares of Zscaler from $245.00 to $290.00 and gave the stock an "outperform" rating in a research report on Wednesday, January 3rd. Five research analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $230.24.

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.