State Board of Administration of Florida Retirement System Increases Stock Holdings in Zscaler, Inc. (NASDAQ:ZS)

State Board of Administration of Florida Retirement System lifted its stake in Zscaler, Inc. (NASDAQ:ZS) by 6.9% during the 1st quarter, Holdings Channel reports. The institutional investor owned 103,937 shares of the company’s stock after purchasing an additional 6,683 shares during the quarter. State Board of Administration of Florida Retirement System’s holdings in Zscaler were worth $20,021,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in ZS. 1832 Asset Management L.P. bought a new position in shares of Zscaler in the fourth quarter worth about $217,683,000. Norges Bank bought a new stake in Zscaler during the 4th quarter valued at approximately $117,599,000. Trivest Advisors Ltd bought a new stake in Zscaler during the 4th quarter valued at approximately $72,051,000. International Assets Investment Management LLC raised its stake in Zscaler by 19,012.4% during the 4th quarter. International Assets Investment Management LLC now owns 223,997 shares of the company’s stock valued at $49,629,000 after purchasing an additional 222,825 shares during the period. Finally, Vanguard Group Inc. raised its stake in Zscaler by 2.4% during the 4th quarter. Vanguard Group Inc. now owns 8,843,772 shares of the company’s stock valued at $1,959,426,000 after purchasing an additional 206,908 shares during the period. Institutional investors own 46.45% of the company’s stock.

Analysts Set New Price Targets

ZS has been the topic of several recent analyst reports. Royal Bank of Canada lifted their target price on Zscaler from $215.00 to $230.00 and gave the company an “outperform” rating in a research note on Friday, May 31st. KeyCorp raised Zscaler from a “sector weight” rating to an “overweight” rating and set a $220.00 target price on the stock in a research note on Thursday, April 18th. UBS Group decreased their target price on Zscaler from $300.00 to $270.00 and set a “buy” rating on the stock in a research note on Wednesday, May 29th. Cantor Fitzgerald reissued a “neutral” rating and set a $200.00 target price on shares of Zscaler in a research note on Friday, June 21st. Finally, Needham & Company LLC reaffirmed a “strong-buy” rating and issued a $290.00 price objective on shares of Zscaler in a research note on Friday, June 14th. Seven investment analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $225.21.

Zscaler Trading Down 1.0 %

ZS traded down $1.97 during trading hours on Friday, reaching $188.40. 585,810 shares of the company’s stock traded hands, compared to its average volume of 2,221,653. The firm has a 50-day moving average price of $183.44 and a 200 day moving average price of $200.62. Zscaler, Inc. has a 52-week low of $131.59 and a 52-week high of $259.61. The company has a quick ratio of 1.75, a current ratio of 1.75 and a debt-to-equity ratio of 1.04. The firm has a market capitalization of $28.48 billion, a PE ratio of -373.27 and a beta of 0.85.

Zscaler (NASDAQ:ZS) last posted its quarterly earnings data on Thursday, May 30th. The company reported $0.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.39. Zscaler had a negative return on equity of 5.84% and a negative net margin of 3.62%. The company had revenue of $553.20 million during the quarter, compared to analysts’ expectations of $535.55 million. As a group, sell-side analysts predict that Zscaler, Inc. will post -0.34 EPS for the current fiscal year.

Insider Buying and Selling at Zscaler

In other Zscaler news, CFO Remo Canessa sold 4,689 shares of Zscaler stock in a transaction on Tuesday, June 18th. The stock was sold at an average price of $180.93, for a total transaction of $848,380.77. Following the completion of the sale, the chief financial officer now directly owns 251,467 shares of the company’s stock, valued at approximately $45,497,924.31. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 19.20% of the stock is currently owned by corporate 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.