Zscaler, Inc. (NASDAQ:ZS) CEO Sells $573,516.16 in Stock

Zscaler, Inc. (NASDAQ:ZS) CEO Jagtar Singh Chaudhry sold 2,863 shares of the stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $200.32, for a total value of $573,516.16. Following the transaction, the chief executive officer now owns 358,569 shares in the company, valued at approximately $71,828,542.08. This trade represents a 0.79 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Zscaler Price Performance

ZS stock opened at $187.38 on Friday. The business has a fifty day moving average price of $197.50 and a 200 day moving average price of $187.67. Zscaler, Inc. has a fifty-two week low of $153.45 and a fifty-two week high of $259.61. The stock has a market capitalization of $28.75 billion, a price-to-earnings ratio of -749.52 and a beta of 0.82.

Zscaler (NASDAQ:ZS) last announced its earnings results on Monday, December 2nd. The company reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.14. Zscaler had a negative return on equity of 0.75% and a negative net margin of 1.58%. The company had revenue of $628.00 million during the quarter, compared to analyst estimates of $605.51 million. During the same period last year, the company posted ($0.18) earnings per share. The firm’s quarterly revenue was up 26.4% compared to the same quarter last year. On average, equities analysts expect that Zscaler, Inc. will post -0.24 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Zscaler

Hedge funds and other institutional investors have recently made changes to their positions in the company. Geode Capital Management LLC lifted its stake 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 during the period. Champlain Investment Partners LLC lifted 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 valued at $220,401,000 after purchasing an additional 283,540 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of Zscaler by 5.3% in 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 during the last quarter. Westfield Capital Management Co. LP grew its position in shares of Zscaler by 33.8% during the 3rd 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 period. Finally, Federated Hermes Inc. raised 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 last quarter. 46.45% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts recently commented on the stock. BMO Capital Markets lifted their target price on shares of Zscaler from $197.00 to $222.00 and gave the stock an “outperform” rating in a report on Tuesday, December 3rd. Guggenheim reissued a “neutral” rating on shares of Zscaler in a research report on Tuesday, December 3rd. Oppenheimer raised their target price on Zscaler from $230.00 to $250.00 and gave the company an “outperform” rating in a report on Tuesday, December 3rd. Susquehanna upped their price target on Zscaler from $210.00 to $225.00 and gave the stock a “positive” rating in a report on Tuesday, December 3rd. Finally, Jefferies Financial Group raised their price objective on shares of Zscaler from $225.00 to $245.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Eleven equities research 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, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $224.84.

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.