Public Employees Retirement Association of Colorado Sells 499 Shares of Zscaler, Inc. (NASDAQ:ZS)

Public Employees Retirement Association of Colorado trimmed its stake in Zscaler, Inc. (NASDAQ:ZS) by 0.5% in the second quarter, HoldingsChannel.com reports. The firm owned 92,424 shares of the company’s stock after selling 499 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Zscaler were worth $17,763,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of Zscaler by 1.3% in the 1st quarter. Vanguard Group Inc. now owns 8,961,774 shares of the company’s stock worth $1,726,307,000 after purchasing an additional 118,002 shares during the period. 1832 Asset Management L.P. bought a new position in Zscaler during the fourth quarter worth $217,683,000. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Zscaler by 19.9% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 619,293 shares of the company’s stock valued at $119,294,000 after buying an additional 102,616 shares during the period. Norges Bank bought a new stake in Zscaler during the fourth quarter valued at $117,599,000. Finally, Bank of New York Mellon Corp grew its holdings in Zscaler by 5.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 496,047 shares of the company’s stock worth $95,335,000 after acquiring an additional 25,181 shares during the period. 46.45% of the stock is owned by institutional investors.

Insider Activity at Zscaler

In other Zscaler news, insider Michael J. Rich sold 4,813 shares of the company’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $171.28, for a total transaction of $824,370.64. Following the sale, the insider now directly owns 103,259 shares of the company’s stock, valued at $17,686,201.52. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CFO Remo Canessa sold 8,455 shares of Zscaler stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $171.28, for a total value of $1,448,172.40. Following the completion of the transaction, the chief financial officer now directly owns 231,793 shares in the company, valued at $39,701,505.04. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Michael J. Rich sold 4,813 shares of the stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $171.28, for a total value of $824,370.64. Following the sale, the insider now directly owns 103,259 shares in the company, valued at approximately $17,686,201.52. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 16,120 shares of company stock worth $2,761,034. Insiders own 19.20% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on ZS. Rosenblatt Securities restated a “neutral” rating and set a $190.00 target price on shares of Zscaler in a research report on Wednesday, September 4th. Wells Fargo & Company reduced their price objective on shares of Zscaler from $182.00 to $180.00 and set an “equal weight” rating for the company in a research report on Wednesday, September 4th. Sanford C. Bernstein dropped their target price on shares of Zscaler from $280.00 to $270.00 and set an “outperform” rating on the stock in a research report on Friday, May 31st. Stifel Nicolaus restated a “buy” rating and issued a $220.00 price target on shares of Zscaler in a report on Wednesday, September 4th. Finally, Piper Sandler dropped their price objective on shares of Zscaler from $255.00 to $215.00 and set an “overweight” rating on the stock in a report on Wednesday, September 4th. Nine research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $218.39.

Zscaler Price Performance

Shares of NASDAQ:ZS opened at $172.71 on Friday. Zscaler, Inc. has a 1 year low of $146.59 and a 1 year high of $259.61. The company has a market capitalization of $26.34 billion, a PE ratio of -338.65 and a beta of 0.82. The business has a fifty day moving average price of $181.87 and a two-hundred day moving average price of $183.42.

Zscaler (NASDAQ:ZS) last posted its quarterly earnings data on Tuesday, September 3rd. The company reported $0.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.70 by $0.18. The business had revenue of $592.90 million during the quarter, compared to the consensus estimate of $567.46 million. Zscaler had a negative net margin of 2.66% and a negative return on equity of 3.46%. The firm’s quarterly revenue was up 30.3% compared to the same quarter last year. During the same quarter last year, the company posted ($0.17) earnings per share. Sell-side analysts anticipate that Zscaler, Inc. will post -0.92 earnings per share for the current year.

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.