Insider Selling: Zscaler, Inc. (NASDAQ:ZS) Insider Sells 4,947 Shares of Stock

Zscaler, Inc. (NASDAQ:ZS) insider Robert Schlossman sold 4,947 shares of the firm’s stock in a transaction on Monday, September 30th. The shares were sold at an average price of $170.22, for a total transaction of $842,078.34. Following the completion of the transaction, the insider now directly owns 107,241 shares of the company’s stock, valued at $18,254,563.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Zscaler Trading Down 2.3 %

NASDAQ ZS traded down $3.95 on Tuesday, hitting $166.99. 1,391,723 shares of the company’s stock were exchanged, compared to its average volume of 2,118,645. Zscaler, Inc. has a 52 week low of $149.63 and a 52 week high of $259.61. The stock has a 50-day moving average of $178.09 and a 200-day moving average of $181.46. The stock has a market cap of $25.24 billion, a price-to-earnings ratio of -327.43 and a beta of 0.82.

Zscaler (NASDAQ:ZS) last announced its quarterly earnings data on Tuesday, September 3rd. The company reported ($0.05) earnings per share for the quarter, topping the consensus estimate of ($0.14) by $0.09. Zscaler had a negative return on equity of 3.46% and a negative net margin of 2.66%. The business had revenue of $592.90 million during the quarter, compared to the consensus estimate of $567.46 million. During the same period in the prior year, the company earned ($0.17) EPS. Zscaler’s revenue for the quarter was up 30.3% on a year-over-year basis. As a group, analysts predict that Zscaler, Inc. will post -0.95 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have recently commented on ZS. UBS Group decreased their price objective on shares of Zscaler from $270.00 to $250.00 and set a “buy” rating for the company in a research report on Wednesday, September 4th. Mizuho lowered Zscaler from an “outperform” rating to a “neutral” rating and set a $220.00 price objective on the stock. in a research note on Tuesday, July 16th. Needham & Company LLC dropped their price target on Zscaler from $290.00 to $235.00 and set a “strong-buy” rating on the stock in a research note on Wednesday, September 4th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $230.00 price target on shares of Zscaler in a report on Wednesday, September 4th. Finally, Wells Fargo & Company decreased their price objective on shares of Zscaler from $182.00 to $180.00 and set an “equal weight” rating on the stock in a report on Wednesday, September 4th. Nine 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 stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $218.39.

Institutional Investors Weigh In On Zscaler

Hedge funds have recently made changes to their positions in the stock. Jones Financial Companies Lllp acquired a new stake in shares of Zscaler in the fourth quarter valued at about $29,000. Quest Partners LLC bought a new position in Zscaler during the second quarter worth $28,000. Asset Dedication LLC lifted its stake in shares of Zscaler by 436.8% in the 2nd quarter. Asset Dedication LLC now owns 204 shares of the company’s stock valued at $39,000 after purchasing an additional 166 shares during the period. American Capital Advisory LLC acquired a new position in Zscaler in the second quarter valued at approximately $50,000. Finally, GAMMA Investing LLC boosted its stake in Zscaler by 103.2% during the first quarter. GAMMA Investing LLC now owns 315 shares of the company’s stock worth $61,000 after acquiring an additional 160 shares in the last quarter. 46.45% of the stock is currently owned by institutional investors and hedge funds.

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.