Remo Canessa Sells 8,455 Shares of Zscaler, Inc. (NASDAQ:ZS) Stock

Zscaler, Inc. (NASDAQ:ZS) CFO Remo Canessa sold 8,455 shares of the company’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $171.28, for a total value of $1,448,172.40. Following the sale, the chief financial officer now owns 231,793 shares of the company’s stock, valued at $39,701,505.04. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

Remo Canessa also recently made the following trade(s):

• On Thursday, June 20th, Remo Canessa sold 7,981 shares of Zscaler stock. The shares were sold at an average price of $177.21, for a total value of $1,414,313.01.

Zscaler Trading Up 2.4 %

Zscaler stock opened at $172.58 on Friday. The stock has a 50-day moving average price of $182.33 and a 200 day moving average price of $183.49. The stock has a market cap of $26.32 billion, a PE ratio of -338.39 and a beta of 0.82. Zscaler, Inc. has a 52 week low of $146.59 and a 52 week high of $259.61.

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

Hedge Funds Weigh In On Zscaler

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. US Bancorp DE raised its holdings in Zscaler by 0.3% in the fourth quarter. US Bancorp DE now owns 22,944 shares of the company’s stock valued at $5,083,000 after acquiring an additional 59 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of Zscaler by 8.6% during the second quarter. EverSource Wealth Advisors LLC now owns 832 shares of the company’s stock worth $149,000 after purchasing an additional 66 shares during the last quarter. Kovack Advisors Inc. grew its stake in Zscaler by 3.4% in the first quarter. Kovack Advisors Inc. now owns 2,042 shares of the company’s stock worth $393,000 after purchasing an additional 67 shares in the last quarter. GAMMA Investing LLC increased its holdings in Zscaler by 21.3% in the second quarter. GAMMA Investing LLC now owns 382 shares of the company’s stock valued at $73,000 after buying an additional 67 shares during the last quarter. Finally, Quadrant Capital Group LLC raised its stake in Zscaler by 66.7% during the fourth quarter. Quadrant Capital Group LLC now owns 175 shares of the company’s stock valued at $39,000 after buying an additional 70 shares in the last quarter. 46.45% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ZS has been the topic of a number of recent analyst reports. Bank of America downgraded shares of Zscaler from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $265.00 to $195.00 in a research report on Wednesday, September 4th. BTIG Research lowered their price objective on Zscaler from $220.00 to $205.00 and set a “buy” rating for the company in a research note on Wednesday, September 4th. Oppenheimer cut their price target on shares of Zscaler from $260.00 to $230.00 and set an “outperform” rating on the stock in a report on Wednesday, September 4th. UBS Group lowered their target price on Zscaler from $270.00 to $250.00 and set a “buy” rating on the stock in a research note on Wednesday, September 4th. Finally, Wells Fargo & Company decreased their target price on Zscaler from $182.00 to $180.00 and set an “equal weight” rating for the company in a research report on Wednesday, September 4th. Nine investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company 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.