State Board of Administration of Florida Retirement System Buys 6,683 Shares of Zscaler, Inc. (NASDAQ:ZS)

State Board of Administration of Florida Retirement System grew its stake in Zscaler, Inc. (NASDAQ:ZS - Free Report) by 6.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 103,937 shares of the company's stock after acquiring an additional 6,683 shares during the quarter. State Board of Administration of Florida Retirement System owned 0.07% of Zscaler worth $20,021,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in ZS. Spire Wealth Management lifted its stake in Zscaler by 24.5% in the fourth quarter. Spire Wealth Management now owns 249 shares of the company's stock valued at $58,000 after buying an additional 49 shares in the last quarter. US Bancorp DE boosted its stake in Zscaler by 0.3% in the 4th quarter. US Bancorp DE now owns 22,944 shares of the company's stock worth $5,083,000 after purchasing an additional 59 shares during the period. Kovack Advisors Inc. increased its holdings in Zscaler by 3.4% during the 1st quarter. Kovack Advisors Inc. now owns 2,042 shares of the company's stock worth $393,000 after purchasing an additional 67 shares in the last quarter. Lindbrook Capital LLC raised its stake in shares of Zscaler by 41.1% in the 4th quarter. Lindbrook Capital LLC now owns 237 shares of the company's stock valued at $53,000 after purchasing an additional 69 shares during the period. Finally, Quadrant Capital Group LLC lifted its holdings in shares of Zscaler by 66.7% in the fourth quarter. Quadrant Capital Group LLC now owns 175 shares of the company's stock valued at $39,000 after purchasing an additional 70 shares in the last quarter. Institutional investors and hedge funds own 46.45% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Scotiabank reduced their target price on shares of Zscaler from $250.00 to $210.00 and set a "sector outperform" rating for the company in a report on Friday, May 31st. Canaccord Genuity Group lowered their price target on shares of Zscaler from $260.00 to $220.00 and set a "buy" rating on the stock in a report on Tuesday, June 4th. Oppenheimer restated an "outperform" rating and set a $260.00 price objective (down previously from $290.00) on shares of Zscaler in a report on Friday, May 31st. Stifel Nicolaus lowered their price objective on Zscaler from $270.00 to $220.00 and set a "buy" rating on the stock in a research report on Thursday, May 16th. Finally, Barclays lifted their price objective on shares of Zscaler from $205.00 to $210.00 and gave the stock an "overweight" rating in a research note on Friday, May 31st. Seven research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, Zscaler presently has an average rating of "Moderate Buy" and a consensus price target of $225.21.

Insider Buying and Selling

In related news, CFO Remo Canessa sold 4,689 shares of the company's stock in a transaction on Tuesday, June 18th. The stock was sold at an average price of $180.93, for a total transaction of $848,380.77. Following the completion of the sale, the chief financial officer now owns 251,467 shares in the company, valued at $45,497,924.31. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 19.20% of the stock is currently owned by corporate insiders.

Zscaler Stock Down 1.0 %

Zscaler stock traded down $1.83 on Friday, hitting $188.54. 1,623,832 shares of the stock traded hands, compared to its average volume of 2,229,171. Zscaler, Inc. has a 1 year low of $131.59 and a 1 year high of $259.61. The business's fifty day simple moving average is $183.72 and its 200 day simple moving average is $200.39. The firm has a market cap of $28.50 billion, a P/E ratio of -369.69 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.

Zscaler (NASDAQ:ZS - Get Free Report) last released its earnings results on Thursday, May 30th. The company reported $0.15 EPS for the quarter, topping analysts' consensus estimates of ($0.24) by $0.39. The firm had revenue of $553.20 million for the quarter, compared to analysts' expectations of $535.55 million. Zscaler had a negative return on equity of 5.84% and a negative net margin of 3.62%. As a group, sell-side analysts forecast that Zscaler, Inc. will post -0.34 earnings per share for the current year.

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.