Insider Selling: Zscaler, Inc. (NASDAQ:ZS) Director Sells $1,392,800.00 in Stock

Zscaler, Inc. (NASDAQ:ZS) Director Andrew William Fraser Brown sold 8,000 shares of the business’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $174.10, for a total transaction of $1,392,800.00. Following the completion of the transaction, the director now directly owns 25,907 shares of the company’s stock, valued at approximately $4,510,408.70. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Zscaler Trading Down 0.5 %

ZS opened at $170.93 on Friday. Zscaler, Inc. has a 12-month low of $146.64 and a 12-month high of $259.61. The company has a market cap of $25.84 billion, a price-to-earnings ratio of -335.16 and a beta of 0.82. The company’s 50 day moving average is $179.26 and its 200 day moving average is $182.32.

Zscaler (NASDAQ:ZS) last posted its quarterly earnings data on Tuesday, September 3rd. The company reported $0.88 EPS for the quarter, topping the consensus estimate of $0.70 by $0.18. The firm had revenue of $592.90 million during the quarter, compared to analyst estimates of $567.46 million. Zscaler had a negative return on equity of 3.46% and a negative net margin of 2.66%. Zscaler’s revenue was up 30.3% on a year-over-year basis. During the same period in the prior year, the business posted ($0.17) EPS. As a group, analysts predict that Zscaler, Inc. will post -0.92 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in ZS. 1832 Asset Management L.P. bought a new stake in Zscaler during the fourth quarter valued at about $217,683,000. Quadrature Capital Ltd bought a new stake in Zscaler during the first quarter valued at about $47,217,000. Vanguard Group Inc. raised its holdings in Zscaler by 2.4% during the fourth quarter. Vanguard Group Inc. now owns 8,843,772 shares of the company’s stock valued at $1,959,426,000 after acquiring an additional 206,908 shares during the period. Jupiter Asset Management Ltd. purchased a new position in Zscaler in the 1st quarter worth approximately $27,954,000. Finally, Massachusetts Financial Services Co. MA bought a new position in Zscaler in the 2nd quarter worth approximately $25,287,000. 46.45% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on ZS. 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 research report on Wednesday, September 4th. Royal Bank of Canada reiterated an “outperform” rating and issued a $230.00 price objective on shares of Zscaler in a report on Wednesday, September 4th. Morgan Stanley raised their price objective on Zscaler from $202.00 to $215.00 and gave the company an “equal weight” rating in a report on Monday, August 26th. Wells Fargo & Company cut their target price on Zscaler from $182.00 to $180.00 and set an “equal weight” rating for the company in a research note on Wednesday, September 4th. Finally, Piper Sandler decreased their price target on shares of Zscaler from $255.00 to $215.00 and set an “overweight” rating on the stock in a research note on Wednesday, September 4th. Nine analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Zscaler presently has a consensus rating of “Moderate Buy” and a consensus target price of $218.39.

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.