PGGM Investments Takes Position in Zscaler, Inc. (NASDAQ:ZS)

PGGM Investments purchased a new position in shares of Zscaler, Inc. (NASDAQ:ZS) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 4,108 shares of the company’s stock, valued at approximately $791,000.

Several other hedge funds have also recently added to or reduced their stakes in ZS. Jones Financial Companies Lllp acquired a new position in shares of Zscaler during the 4th quarter worth approximately $29,000. GAMMA Investing LLC purchased a new position in Zscaler during the fourth quarter worth approximately $37,000. Parkside Financial Bank & Trust boosted its stake in Zscaler by 582.6% during the fourth quarter. Parkside Financial Bank & Trust now owns 157 shares of the company’s stock worth $35,000 after buying an additional 134 shares during the last quarter. Quadrant Capital Group LLC grew its holdings in Zscaler by 66.7% in the 4th quarter. Quadrant Capital Group LLC now owns 175 shares of the company’s stock valued at $39,000 after buying an additional 70 shares in the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt grew its holdings in Zscaler by 109.0% in the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 209 shares of the company’s stock valued at $46,000 after buying an additional 109 shares in the last quarter. 46.45% of the stock is owned by institutional investors and hedge funds.

Zscaler Trading Down 2.8 %

Shares of ZS stock opened at $169.52 on Friday. The company has a market capitalization of $25.62 billion, a P/E ratio of -332.39 and a beta of 0.85. The company has a current ratio of 1.75, a quick ratio of 1.75 and a debt-to-equity ratio of 1.04. The business’s 50 day moving average is $184.51 and its two-hundred day moving average is $197.40. Zscaler, Inc. has a twelve month low of $131.59 and a twelve month high of $259.61.

Zscaler (NASDAQ:ZS) last released its earnings results on Thursday, May 30th. The company reported $0.15 EPS for the quarter, topping the consensus estimate of ($0.24) by $0.39. Zscaler had a negative net margin of 3.62% and a negative return on equity of 5.84%. The company had revenue of $553.20 million during the quarter, compared to analysts’ expectations of $535.55 million. Equities analysts forecast that Zscaler, Inc. will post -0.34 EPS for the current year.

Insider Buying and Selling at Zscaler

In related news, CFO Remo Canessa sold 7,981 shares of the business’s stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $177.21, for a total transaction of $1,414,313.01. Following the sale, the chief financial officer now owns 243,486 shares of the company’s stock, valued at $43,148,154.06. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 19.20% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Rosenblatt Securities reaffirmed a “neutral” rating and set a $190.00 price target on shares of Zscaler in a research report on Tuesday, May 28th. Oppenheimer restated an “outperform” rating and issued a $260.00 target price (down previously from $290.00) on shares of Zscaler in a research report on Friday, May 31st. BTIG Research lowered their price target on Zscaler from $258.00 to $220.00 and set a “buy” rating for the company in a report on Friday, May 31st. JMP Securities restated a “market outperform” rating and issued a $270.00 price objective on shares of Zscaler in a report on Monday, June 17th. Finally, Barclays upped their target price on shares of Zscaler from $205.00 to $210.00 and gave the company an “overweight” rating in a research report on Friday, May 31st. Eight analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $225.21.

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.