Louisiana State Employees Retirement System Sells 400 Shares of Zscaler, Inc. (NASDAQ:ZS)

Louisiana State Employees Retirement System reduced its stake in Zscaler, Inc. (NASDAQ:ZS) by 3.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 11,500 shares of the company’s stock after selling 400 shares during the period. Louisiana State Employees Retirement System’s holdings in Zscaler were worth $1,966,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in ZS. State Board of Administration of Florida Retirement System grew its position in Zscaler by 6.9% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 103,937 shares of the company’s stock valued at $20,021,000 after purchasing an additional 6,683 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of Zscaler by 9.1% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 116,691 shares of the company’s stock worth $22,478,000 after acquiring an additional 9,689 shares in the last quarter. Norden Group LLC acquired a new stake in shares of Zscaler in the 1st quarter worth about $846,000. Central Pacific Bank Trust Division bought a new position in Zscaler in the 1st quarter valued at about $809,000. Finally, Creative Planning boosted its stake in Zscaler by 7.6% during the 3rd quarter. Creative Planning now owns 148,534 shares of the company’s stock valued at $25,390,000 after purchasing an additional 10,551 shares during the last quarter. Institutional investors and hedge funds own 46.45% of the company’s stock.

Insider Buying and Selling at Zscaler

In related news, insider Michael J. Rich sold 4,813 shares of the company’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $171.28, for a total value of $824,370.64. Following the completion of the transaction, the insider now directly owns 103,259 shares in the company, valued at approximately $17,686,201.52. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Zscaler news, CFO Remo Canessa sold 8,455 shares of Zscaler stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $171.28, for a total transaction of $1,448,172.40. Following the transaction, the chief financial officer now directly owns 231,793 shares of the company’s stock, valued at approximately $39,701,505.04. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Michael J. Rich sold 4,813 shares of the stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $171.28, for a total transaction of $824,370.64. Following the transaction, the insider now directly owns 103,259 shares in the company, valued at approximately $17,686,201.52. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 30,502 shares of company stock worth $5,256,651 over the last three months. 19.20% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Scotiabank dropped their target price on Zscaler from $210.00 to $195.00 and set a “sector outperform” rating on the stock in a report on Wednesday, September 4th. BNP Paribas started coverage on shares of Zscaler in a report on Tuesday, October 8th. They set a “neutral” rating and a $180.00 price objective on the stock. JPMorgan Chase & Co. lowered their target price on shares of Zscaler from $230.00 to $220.00 and set an “overweight” rating for the company in a report on Wednesday, September 4th. Wedbush cut their price target on shares of Zscaler from $260.00 to $220.00 and set an “outperform” rating on the stock in a report on Wednesday, September 4th. Finally, Bank of America lowered shares of Zscaler from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $265.00 to $195.00 in a research note on Wednesday, September 4th. Ten equities research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $216.73.

Zscaler Price Performance

Shares of NASDAQ:ZS opened at $189.85 on Wednesday. The firm has a fifty day moving average price of $180.58 and a two-hundred day moving average price of $180.75. The company has a market cap of $28.70 billion, a price-to-earnings ratio of -372.25 and a beta of 0.82. Zscaler, Inc. has a one year low of $152.60 and a one year high of $259.61.

Zscaler (NASDAQ:ZS) last posted its earnings results on Tuesday, September 3rd. The company reported ($0.05) EPS for the quarter, topping the consensus estimate of ($0.14) by $0.09. Zscaler had a negative return on equity of 3.46% and a negative net margin of 2.66%. The business had revenue of $592.90 million during the quarter, compared to analysts’ expectations of $567.46 million. During the same period in the previous year, the business earned ($0.17) earnings per share. The firm’s revenue was up 30.3% on a year-over-year basis. Equities research analysts expect that Zscaler, Inc. will post -0.95 EPS for the current fiscal year.

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.