Insider Selling: Zscaler, Inc. (NASDAQ:ZS) Director Sells 8,000 Shares of Stock

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

Zscaler Price Performance

Shares of ZS stock traded down $0.64 on Tuesday, hitting $174.15. 695,566 shares of the stock traded hands, compared to its average volume of 2,142,141. Zscaler, Inc. has a 52 week low of $146.59 and a 52 week high of $259.61. The firm has a 50 day simple moving average of $180.69 and a two-hundred day simple moving average of $182.64. The firm has a market cap of $26.32 billion, a price-to-earnings ratio of -342.73 and a beta of 0.82.

Zscaler (NASDAQ:ZS) last posted its quarterly earnings results on Tuesday, September 3rd. The company reported $0.88 EPS for the quarter, beating analysts’ consensus estimates of $0.70 by $0.18. The business had revenue of $592.90 million for the quarter, compared to analysts’ expectations of $567.46 million. Zscaler had a negative return on equity of 3.46% and a negative net margin of 2.66%. The business’s quarterly revenue was up 30.3% on a year-over-year basis. During the same period last year, the firm earned ($0.17) earnings per share. Sell-side analysts forecast that Zscaler, Inc. will post -0.92 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have weighed in on ZS. Needham & Company LLC cut their price objective on shares of Zscaler from $290.00 to $235.00 and set a “strong-buy” rating on the stock in a report on Wednesday, September 4th. Cantor Fitzgerald reduced their price objective on Zscaler from $200.00 to $170.00 and set a “neutral” rating for the company in a research report on Wednesday, September 4th. Barclays dropped their target price on Zscaler from $230.00 to $200.00 and set an “overweight” rating on the stock in a report on Wednesday, September 4th. JPMorgan Chase & Co. reduced their price target on Zscaler from $230.00 to $220.00 and set an “overweight” rating for the company in a report on Wednesday, September 4th. Finally, Morgan Stanley upped their price target on shares of Zscaler from $202.00 to $215.00 and gave the stock an “equal weight” rating in a research note on Monday, August 26th. Nine analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Zscaler has a consensus rating of “Moderate Buy” and an average target price of $218.39.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in ZS. Vanguard Group Inc. lifted its stake in 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 purchasing an additional 118,002 shares in the last quarter. 1832 Asset Management L.P. purchased a new stake in shares of Zscaler in the fourth quarter worth about $217,683,000. Mirae Asset Global Investments Co. Ltd. boosted its stake in Zscaler by 19.9% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 619,293 shares of the company’s stock valued at $119,294,000 after buying an additional 102,616 shares during the last quarter. Bank of New York Mellon Corp grew its holdings 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 buying an additional 25,181 shares in the last quarter. Finally, Federated Hermes Inc. increased its stake in Zscaler by 18.3% in the 2nd quarter. Federated Hermes Inc. now owns 394,698 shares of the company’s stock worth $75,857,000 after acquiring an additional 61,037 shares during the last quarter. 46.45% of the stock is owned by hedge funds and other institutional investors.

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.