Insider Selling: Zscaler, Inc. (NASDAQ:ZS) Insider Sells 4,813 Shares of Stock

Zscaler, Inc. (NASDAQ:ZS) insider Michael J. Rich sold 4,813 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $171.28, for a total value of $824,370.64. Following the transaction, the insider now directly owns 103,259 shares in the company, valued at $17,686,201.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Zscaler Stock Down 1.1 %

Shares of NASDAQ ZS traded down $1.80 during midday trading on Wednesday, hitting $168.52. The stock had a trading volume of 1,472,951 shares, compared to its average volume of 2,156,157. The business’s 50 day moving average is $182.91 and its 200-day moving average is $183.60. Zscaler, Inc. has a 52 week low of $146.59 and a 52 week high of $259.61. The company has a market cap of $25.70 billion, a P/E ratio of -331.96 and a beta of 0.82.

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

Hedge Funds Weigh In On Zscaler

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in shares of Zscaler by 1.3% in the 1st quarter. Vanguard Group Inc. now owns 8,961,774 shares of the company’s stock worth $1,726,307,000 after buying an additional 118,002 shares during the last quarter. 1832 Asset Management L.P. purchased a new position in Zscaler in the fourth quarter worth about $217,683,000. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Zscaler by 19.9% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 619,293 shares of the company’s stock valued at $119,294,000 after purchasing an additional 102,616 shares during the period. Norges Bank bought a new stake in shares of Zscaler during the 4th quarter valued at about $117,599,000. Finally, Bank of New York Mellon Corp increased its position in shares of 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 during the last quarter. Institutional investors own 46.45% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. BTIG Research decreased their price target on Zscaler from $220.00 to $205.00 and set a “buy” rating on the stock in a research note on Wednesday, September 4th. Piper Sandler decreased their target price 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. Barclays dropped their price target on shares of Zscaler from $230.00 to $200.00 and set an “overweight” rating for the company in a research report on Wednesday, September 4th. Loop Capital decreased their price objective on shares of Zscaler from $180.00 to $165.00 and set a “hold” rating on the stock in a research report on Wednesday, September 4th. Finally, Morgan Stanley increased their target price on shares of Zscaler from $202.00 to $215.00 and gave the stock an “equal weight” rating in a report on Monday, August 26th. Nine equities research 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.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $218.39.

Zscaler Company 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.