Louisiana State Employees Retirement System Cuts Stake in Zscaler, Inc. (NASDAQ:ZS)

Louisiana State Employees Retirement System trimmed its stake in Zscaler, Inc. (NASDAQ:ZS) by 2.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 11,200 shares of the company’s stock after selling 300 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Zscaler were worth $2,021,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of ZS. Global X Japan Co. Ltd. increased its position in Zscaler by 127.4% during the 4th quarter. Global X Japan Co. Ltd. now owns 141 shares of the company’s stock worth $25,000 after purchasing an additional 79 shares in the last quarter. Stonebridge Financial Group LLC acquired a new stake in shares of Zscaler in the fourth quarter worth $29,000. Prestige Wealth Management Group LLC purchased a new position in shares of Zscaler in the 3rd quarter valued at $31,000. True Wealth Design LLC lifted its holdings in shares of Zscaler by 18,500.0% during the 3rd quarter. True Wealth Design LLC now owns 186 shares of the company’s stock valued at $32,000 after acquiring an additional 185 shares in the last quarter. Finally, Versant Capital Management Inc boosted its position in Zscaler by 136.8% during the 4th quarter. Versant Capital Management Inc now owns 180 shares of the company’s stock worth $32,000 after purchasing an additional 104 shares during the period. Institutional investors and hedge funds own 46.45% of the company’s stock.

Zscaler Stock Performance

NASDAQ:ZS opened at $212.70 on Friday. The stock has a market cap of $32.64 billion, a price-to-earnings ratio of -850.80 and a beta of 0.89. Zscaler, Inc. has a 1 year low of $153.45 and a 1 year high of $255.00. The business has a fifty day moving average of $194.79 and a 200-day moving average of $189.26.

Zscaler (NASDAQ:ZS) last released its earnings results on Monday, December 2nd. The company reported $0.77 EPS for the quarter, beating the consensus estimate of $0.63 by $0.14. The firm had revenue of $628.00 million for the quarter, compared to analysts’ expectations of $605.51 million. Zscaler had a negative net margin of 1.58% and a negative return on equity of 0.75%. Zscaler’s quarterly revenue was up 26.4% on a year-over-year basis. During the same quarter last year, the company earned ($0.18) EPS. On average, equities research analysts predict that Zscaler, Inc. will post -0.1 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on ZS shares. Loop Capital reduced their price objective on Zscaler from $200.00 to $195.00 and set a “hold” rating on the stock in a research note on Tuesday, December 3rd. Barclays upped their price target on Zscaler from $200.00 to $220.00 and gave the stock an “overweight” rating in a report on Thursday, November 21st. Canaccord Genuity Group lifted their price objective on shares of Zscaler from $220.00 to $230.00 and gave the company a “buy” rating in a research note on Tuesday, December 3rd. Wells Fargo & Company raised their price target on shares of Zscaler from $180.00 to $190.00 and gave the company an “equal weight” rating in a report on Wednesday, December 4th. Finally, BTIG Research boosted their price objective on shares of Zscaler from $205.00 to $238.00 and gave the stock a “buy” rating in a report on Wednesday, November 27th. Eleven investment analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company’s stock. According to MarketBeat, Zscaler presently has a consensus rating of “Moderate Buy” and an average price target of $225.63.

Insider Activity

In other news, CEO Jagtar Singh Chaudhry sold 2,863 shares of the stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $200.32, for a total transaction of $573,516.16. Following the completion of the sale, the chief executive officer now owns 358,569 shares in the company, valued at approximately $71,828,542.08. This represents a 0.79 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Syam Nair sold 3,682 shares of Zscaler stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $200.32, for a total value of $737,578.24. Following the completion of the transaction, the insider now owns 142,866 shares in the company, valued at $28,618,917.12. The trade was a 2.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 10,248 shares of company stock worth $2,052,879. 18.10% of the stock is owned by company 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.