Kentucky Retirement Systems Insurance Trust Fund Takes $538,000 Position in Zscaler, Inc. (NASDAQ:ZS)

Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in shares of Zscaler, Inc. (NASDAQ:ZS) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 2,709 shares of the company’s stock, valued at approximately $538,000.

Several other large investors have also recently modified their holdings of ZS. ORG Partners LLC increased its position in shares of Zscaler by 284.8% during the first quarter. ORG Partners LLC now owns 127 shares of the company’s stock worth $26,000 after buying an additional 94 shares during the period. Summit Securities Group LLC acquired a new stake in shares of Zscaler during the fourth quarter worth $27,000. Colonial Trust Co SC acquired a new stake in shares of Zscaler during the fourth quarter worth $28,000. Elequin Capital LP acquired a new stake in shares of Zscaler during the fourth quarter worth $30,000. Finally, CVA Family Office LLC increased its position in shares of Zscaler by 120.3% during the first quarter. CVA Family Office LLC now owns 152 shares of the company’s stock worth $30,000 after buying an additional 83 shares during the period. Institutional investors own 46.45% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on ZS shares. Susquehanna increased their target price on shares of Zscaler from $245.00 to $320.00 and gave the stock a “positive” rating in a research note on Friday, May 30th. Piper Sandler reissued a “neutral” rating and set a $260.00 target price (up from $235.00) on shares of Zscaler in a research note on Friday, May 30th. Citigroup reissued a “buy” rating and set a $240.00 target price (up from $235.00) on shares of Zscaler in a research note on Wednesday, March 5th. JPMorgan Chase & Co. increased their target price on shares of Zscaler from $292.00 to $348.00 and gave the stock an “overweight” rating in a research note on Monday, June 16th. Finally, Mizuho increased their target price on shares of Zscaler from $275.00 to $290.00 and gave the stock a “neutral” rating in a research note on Wednesday, June 4th. Eight equities research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Zscaler has an average rating of “Moderate Buy” and an average price target of $294.03.

Zscaler Stock Performance

NASDAQ ZS opened at $308.46 on Wednesday. Zscaler, Inc. has a 52-week low of $153.45 and a 52-week high of $314.64. The company has a 50-day simple moving average of $256.58 and a 200 day simple moving average of $217.65. The company has a market capitalization of $48.03 billion, a PE ratio of -1,186.38 and a beta of 1.09.

Zscaler (NASDAQ:ZS) last posted its quarterly earnings data on Thursday, May 29th. The company reported $0.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.76 by $0.08. Zscaler had a negative net margin of 1.52% and a negative return on equity of 0.59%. The business had revenue of $678.03 million during the quarter, compared to the consensus estimate of $667.13 million. During the same quarter last year, the company posted $0.88 earnings per share. The firm’s quarterly revenue was up 22.6% compared to the same quarter last year. As a group, analysts forecast that Zscaler, Inc. will post -0.1 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Robert Schlossman sold 3,174 shares of Zscaler stock in a transaction dated Wednesday, June 18th. The shares were sold at an average price of $305.07, for a total value of $968,292.18. Following the completion of the transaction, the insider now owns 88,970 shares in the company, valued at $27,142,077.90. This trade represents a 3.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Ajay Mangal sold 120,000 shares of Zscaler stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $300.89, for a total transaction of $36,106,800.00. Following the completion of the transaction, the insider now owns 2,550,210 shares of the company’s stock, valued at $767,332,686.90. The trade was a 4.49% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 210,793 shares of company stock worth $60,812,794. Insiders own 18.10% of the company’s stock.

Zscaler 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.