Zscaler, Inc. (NASDAQ:ZS) Insider Sells $737,578.24 in Stock

Zscaler, Inc. (NASDAQ:ZS) insider Syam Nair sold 3,682 shares of the business’s stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $200.32, for a total transaction of $737,578.24. Following the transaction, the insider now owns 142,866 shares of the company’s stock, valued at $28,618,917.12. This represents a 2.51 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Zscaler Trading Down 1.3 %

ZS stock traded down $2.48 during trading on Thursday, reaching $183.21. 2,546,252 shares of the stock were exchanged, compared to its average volume of 2,060,923. The firm has a market capitalization of $28.11 billion, a price-to-earnings ratio of -732.84 and a beta of 0.82. The business has a 50 day moving average price of $197.97 and a 200-day moving average price of $187.58. Zscaler, Inc. has a 1 year low of $153.45 and a 1 year high of $259.61.

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

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on ZS shares. Barclays boosted their price objective on Zscaler from $200.00 to $220.00 and gave the company an “overweight” rating in a report on Thursday, November 21st. Citigroup increased their target price on shares of Zscaler from $230.00 to $235.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Jefferies Financial Group lifted their price target on Zscaler from $225.00 to $245.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Cantor Fitzgerald raised Zscaler to a “hold” rating in a report on Monday, November 18th. Finally, Morgan Stanley dropped 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. Eleven investment analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $224.84.

Hedge Funds Weigh In On Zscaler

A number of hedge funds have recently modified their holdings of ZS. Fred Alger Management LLC boosted its position in shares of Zscaler by 1,151.0% during the 3rd quarter. Fred Alger Management LLC now owns 10,371 shares of the company’s stock worth $1,773,000 after purchasing an additional 9,542 shares during the period. DekaBank Deutsche Girozentrale boosted its position in shares of Zscaler by 7.1% during the third quarter. DekaBank Deutsche Girozentrale now owns 221,212 shares of the company’s stock worth $37,495,000 after buying an additional 14,701 shares during the period. Creative Planning grew its stake in shares of Zscaler by 7.6% in the third quarter. Creative Planning now owns 148,534 shares of the company’s stock valued at $25,390,000 after buying an additional 10,551 shares in the last quarter. Nomura Asset Management Co. Ltd. raised its holdings in shares of Zscaler by 11.0% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 380,463 shares of the company’s stock valued at $65,036,000 after buying an additional 37,801 shares during the period. Finally, Massachusetts Financial Services Co. MA purchased a new position in Zscaler during the 2nd quarter valued at about $25,287,000. 46.45% of the stock is currently owned by hedge funds and other institutional investors.

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.