Zscaler, Inc. (NASDAQ:ZS) Stock Position Raised by Louisiana State Employees Retirement System

Posted by on Oct 4th, 2023

Louisiana State Employees Retirement System lifted its position in Zscaler, Inc. (NASDAQ:ZS – Free Report) by 26.4% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 9,100 shares of the company’s stock after acquiring an additional 1,900 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Zscaler were worth $1,331,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. lifted its position in Zscaler by 14.1% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 557,345 shares of the company’s stock worth $134,476,000 after buying an additional 68,982 shares in the last quarter. AlphaCrest Capital Management LLC purchased a new stake in Zscaler in the 1st quarter worth approximately $244,000. D.A. Davidson & CO. lifted its position in Zscaler by 41.6% in the 1st quarter. D.A. Davidson & CO. now owns 1,130 shares of the company’s stock worth $273,000 after buying an additional 332 shares in the last quarter. MetLife Investment Management LLC purchased a new stake in Zscaler in the 1st quarter worth approximately $1,232,000. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Zscaler by 1.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 121,598 shares of the company’s stock valued at $29,338,000 after purchasing an additional 2,153 shares in the last quarter. Hedge funds and other institutional investors own 46.45% of the company’s stock.

Insider Transactions at Zscaler

In related news, CEO Jagtar Singh Chaudhry sold 2,844 shares of Zscaler stock in a transaction on Monday, September 18th. The shares were sold at an average price of $154.45, for a total value of $439,255.80. Following the completion of the sale, the chief executive officer now owns 372,091 shares of the company’s stock, valued at approximately $57,469,454.95. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, CEO Jagtar Singh Chaudhry sold 2,844 shares of Zscaler stock in a transaction on Monday, September 18th. The shares were sold at an average price of $154.45, for a total value of $439,255.80. Following the completion of the sale, the chief executive officer now owns 372,091 shares of the company’s stock, valued at approximately $57,469,454.95. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, COO Dali Rajic sold 22,000 shares of Zscaler stock in a transaction on Thursday, July 6th. The stock was sold at an average price of $141.50, for a total value of $3,113,000.00. Following the sale, the chief operating officer now owns 306,406 shares in the company, valued at $43,356,449. The disclosure for this sale can be found here. Insiders sold a total of 148,858 shares of company stock valued at $22,448,152 in the last quarter. 19.80% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the stock. Stephens restated an “overweight” rating and set a $190.00 price target on shares of Zscaler in a report on Wednesday, September 6th. BMO Capital Markets raised their target price on shares of Zscaler from $175.00 to $180.00 and gave the company an “outperform” rating in a research note on Wednesday, September 6th. Oppenheimer raised their price target on shares of Zscaler from $180.00 to $190.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 6th. Needham & Company LLC reiterated a “strong-buy” rating and set a $210.00 target price on shares of Zscaler in a research report on Wednesday, September 6th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on shares of Zscaler from $155.00 to $185.00 and gave the company a “buy” rating in a research report on Wednesday, September 6th. Eleven analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $181.40.

Get Our Latest Stock Analysis on Zscaler

Zscaler Stock Down 5.9 %

Zscaler stock opened at $151.46 on Wednesday. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.88 and a current ratio of 1.88. Zscaler, Inc. has a 52-week low of $84.93 and a 52-week high of $185.99. The firm has a 50 day moving average price of $150.82 and a two-hundred day moving average price of $134.76. The firm has a market cap of $22.29 billion, a price-to-earnings ratio of -107.42 and a beta of 0.85.

Zscaler (NASDAQ:ZS – Get Free Report) last released its quarterly earnings results on Tuesday, September 5th. The company reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.49 by $0.15. Zscaler had a negative net margin of 12.51% and a negative return on equity of 31.64%. The firm had revenue of $455.00 million during the quarter, compared to analyst estimates of $430.38 million. During the same quarter last year, the business earned ($0.40) EPS. The company’s revenue was up 43.0% compared to the same quarter last year. Equities analysts predict that Zscaler, Inc. will post -1.1 EPS for the current year.

Zscaler 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.

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Institutional Ownership by Quarter for Zscaler (NASDAQ:ZS)

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