State of New Jersey Common Pension Fund D Trims Holdings in Zscaler, Inc. (NASDAQ:ZS)

State of New Jersey Common Pension Fund D lowered its position in Zscaler, Inc. (NASDAQ:ZS - Free Report) by 33.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,596 shares of the company's stock after selling 16,991 shares during the quarter. State of New Jersey Common Pension Fund D's holdings in Zscaler were worth $6,457,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. 1832 Asset Management L.P. acquired a new position in shares of Zscaler during the fourth quarter valued at approximately $217,683,000. Norges Bank acquired a new stake in shares of Zscaler during the 4th quarter valued at $117,599,000. Quadrature Capital Ltd acquired a new stake in shares of Zscaler in the 1st quarter valued at $47,217,000. Vanguard Group Inc. lifted its stake in shares of Zscaler by 2.4% in the 4th quarter. Vanguard Group Inc. now owns 8,843,772 shares of the company's stock valued at $1,959,426,000 after purchasing an additional 206,908 shares during the last quarter. Finally, Jupiter Asset Management Ltd. acquired a new stake in shares of Zscaler in the 1st quarter valued at $27,954,000. Institutional investors and hedge funds own 46.45% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. Oppenheimer cut their target price on Zscaler from $260.00 to $230.00 and set an "outperform" rating for the company in a research report on Wednesday, September 4th. Citigroup reduced their price target on Zscaler from $270.00 to $240.00 and set a "buy" rating on the stock in a research report on Wednesday, June 5th. Susquehanna restated a "positive" rating and issued a $210.00 price target on shares of Zscaler in a research report on Thursday, September 5th. Bank of America lowered Zscaler from a "buy" rating to a "neutral" rating and reduced their target price for the stock from $265.00 to $195.00 in a report on Wednesday, September 4th. Finally, Royal Bank of Canada restated an "outperform" rating and issued a $230.00 price target on shares of Zscaler in a report on Wednesday, September 4th. Nine research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Zscaler presently has an average rating of "Moderate Buy" and a consensus target price of $218.39.

Insider Activity

In other Zscaler news, CFO Remo Canessa sold 7,981 shares of the business's stock in a transaction on 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 directly owns 243,486 shares in the company, valued at approximately $43,148,154.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 19.20% of the company's stock.

Zscaler Price Performance

Shares of NASDAQ ZS traded up $1.72 during mid-day trading on Monday, reaching $171.78. The company's stock had a trading volume of 1,290,598 shares, compared to its average volume of 2,162,563. The stock has a 50-day moving average of $183.45 and a two-hundred day moving average of $183.94. The stock has a market capitalization of $25.96 billion, a P/E ratio of -336.82 and a beta of 0.82. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.75 and a current ratio of 1.75. Zscaler, Inc. has a 1-year low of $146.59 and a 1-year high of $259.61.

Zscaler (NASDAQ:ZS - Get Free Report) last announced its earnings results on Tuesday, September 3rd. The company reported $0.88 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.18. Zscaler had a negative net margin of 2.66% and a negative return on equity of 3.75%. The company had revenue of $592.90 million during the quarter, compared to analyst estimates of $567.46 million. During the same quarter last year, the firm posted ($0.17) earnings per share. Zscaler's revenue was up 30.3% compared to the same quarter last year. On average, equities research analysts anticipate that Zscaler, Inc. will post -0.92 EPS for the current fiscal year.

Zscaler Company 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.