Teacher Retirement System of Texas Lowers Holdings in Zscaler, Inc. (NASDAQ:ZS)

Teacher Retirement System of Texas decreased its holdings in Zscaler, Inc. (NASDAQ:ZS) by 40.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,024 shares of the company’s stock after selling 2,758 shares during the quarter. Teacher Retirement System of Texas’ holdings in Zscaler were worth $892,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in ZS. Sequoia Financial Advisors LLC acquired a new stake in Zscaler in the fourth quarter valued at approximately $9,674,000. Nordea Investment Management AB raised its holdings in Zscaler by 463.5% in the fourth quarter. Nordea Investment Management AB now owns 29,803 shares of the company’s stock valued at $6,629,000 after acquiring an additional 24,514 shares in the last quarter. Vanguard Group Inc. raised its holdings in Zscaler by 1.5% in the third quarter. Vanguard Group Inc. now owns 8,636,864 shares of the company’s stock valued at $1,343,810,000 after acquiring an additional 129,090 shares in the last quarter. AQR Capital Management LLC raised its holdings in Zscaler by 272.6% in the third quarter. AQR Capital Management LLC now owns 41,894 shares of the company’s stock valued at $6,518,000 after acquiring an additional 30,650 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in Zscaler by 5.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 309,360 shares of the company’s stock worth $68,542,000 after purchasing an additional 15,628 shares in the last quarter. Hedge funds and other institutional investors own 46.45% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Wedbush boosted their price objective on shares of Zscaler from $250.00 to $260.00 and gave the stock an “outperform” rating in a research report on Friday, March 1st. Morgan Stanley boosted their price objective on shares of Zscaler from $195.00 to $214.00 and gave the stock an “equal weight” rating in a research report on Monday, February 26th. The Goldman Sachs Group boosted their price objective on shares of Zscaler from $189.00 to $215.00 and gave the stock a “neutral” rating in a research report on Monday, March 4th. BMO Capital Markets reduced their price objective on shares of Zscaler from $268.00 to $255.00 and set an “outperform” rating for the company in a research report on Friday, March 1st. Finally, JMP Securities restated a “market outperform” rating and set a $270.00 price objective on shares of Zscaler in a research report on Tuesday, May 14th. Five equities research analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $231.26.

Insider Activity at Zscaler

In related news, CEO Jagtar Singh Chaudhry sold 2,115 shares of the stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $193.15, for a total value of $408,512.25. Following the sale, the chief executive officer now directly owns 367,152 shares of the company’s stock, valued at approximately $70,915,408.80. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other Zscaler news, CEO Jagtar Singh Chaudhry sold 2,115 shares of the company’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $193.15, for a total value of $408,512.25. Following the transaction, the chief executive officer now directly owns 367,152 shares in the company, valued at approximately $70,915,408.80. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Syam Nair sold 2,893 shares of the company’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $193.15, for a total transaction of $558,782.95. Following the completion of the transaction, the insider now owns 137,294 shares in the company, valued at $26,518,336.10. The disclosure for this sale can be found here. In the last three months, insiders have sold 12,715 shares of company stock valued at $2,455,902. Insiders own 19.20% of the company’s stock.

Zscaler Stock Performance

NASDAQ:ZS opened at $174.16 on Thursday. The company has a quick ratio of 1.98, a current ratio of 1.98 and a debt-to-equity ratio of 1.19. Zscaler, Inc. has a fifty-two week low of $123.21 and a fifty-two week high of $259.61. The stock has a market cap of $26.11 billion, a PE ratio of -183.33 and a beta of 0.85. The firm’s fifty day simple moving average is $182.25 and its 200-day simple moving average is $205.04.

Zscaler (NASDAQ:ZS) last posted its quarterly earnings results on Thursday, February 29th. The company reported ($0.16) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.08. The business had revenue of $525.00 million for the quarter, compared to analysts’ expectations of $507.56 million. Zscaler had a negative net margin of 7.32% and a negative return on equity of 14.60%. Analysts expect that Zscaler, Inc. will post -0.8 earnings per share for the current fiscal 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.