Insider Selling: Zscaler, Inc. (NASDAQ:ZS) CFO Sells 3,703 Shares of Stock

Zscaler, Inc. (NASDAQ:ZS) CFO Remo Canessa sold 3,703 shares of the business’s stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $200.32, for a total transaction of $741,784.96. Following the completion of the sale, the chief financial officer now owns 220,635 shares in the company, valued at approximately $44,197,603.20. The trade was a 1.65 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Zscaler Price Performance

Shares of ZS stock opened at $187.38 on Friday. The company has a market cap of $28.75 billion, a P/E ratio of -749.52 and a beta of 0.82. The stock’s 50-day moving average is $197.72 and its 200 day moving average is $187.55. Zscaler, Inc. has a 1-year low of $153.45 and a 1-year high of $259.61.

Zscaler (NASDAQ:ZS) last issued its quarterly earnings data on Monday, December 2nd. The company reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.63 by $0.14. The firm had revenue of $628.00 million for the quarter, compared to the consensus estimate of $605.51 million. Zscaler had a negative net margin of 1.58% and a negative return on equity of 0.75%. The company’s quarterly revenue was up 26.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.18) EPS. On average, analysts anticipate that Zscaler, Inc. will post -0.24 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Jefferies Financial Group boosted their target price on Zscaler from $225.00 to $245.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Morgan Stanley decreased their price objective on Zscaler from $215.00 to $205.00 and set an “equal weight” rating on the stock in a report on Tuesday, December 3rd. Robert W. Baird cut their target price on shares of Zscaler from $260.00 to $225.00 and set an “outperform” rating for the company in a report on Wednesday, September 4th. Susquehanna upped their price target on shares of Zscaler from $210.00 to $225.00 and gave the company a “positive” rating in a research note on Tuesday, December 3rd. Finally, Wells Fargo & Company lifted their price objective on shares of Zscaler from $180.00 to $190.00 and gave the stock an “equal weight” rating in a research note on Wednesday, December 4th. Eleven investment analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company. According to data from MarketBeat, Zscaler presently has an average rating of “Moderate Buy” and an average price target of $224.84.

Hedge Funds Weigh In On Zscaler

A number of large investors have recently made changes to their positions in ZS. Geode Capital Management LLC increased its holdings in shares of Zscaler by 3.9% during the third quarter. Geode Capital Management LLC now owns 1,625,861 shares of the company’s stock valued at $277,327,000 after acquiring an additional 60,414 shares in the last quarter. Champlain Investment Partners LLC grew its position in Zscaler by 28.2% during the 3rd quarter. Champlain Investment Partners LLC now owns 1,289,350 shares of the company’s stock worth $220,401,000 after purchasing an additional 283,540 shares during the last quarter. Bank of New York Mellon Corp increased its stake 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 valued at $95,335,000 after purchasing an additional 25,181 shares in the last quarter. Westfield Capital Management Co. LP raised its holdings in shares of Zscaler by 33.8% in the third quarter. Westfield Capital Management Co. LP now owns 399,516 shares of the company’s stock worth $68,293,000 after buying an additional 100,814 shares during the last quarter. Finally, Federated Hermes Inc. lifted its stake in shares of Zscaler by 18.3% during the second quarter. Federated Hermes Inc. now owns 394,698 shares of the company’s stock worth $75,857,000 after buying an additional 61,037 shares during the period. 46.45% of the stock is owned by institutional investors and hedge funds.

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.