Insider Selling: Zscaler, Inc. (NASDAQ:ZS) Insider Sells 3,682 Shares of Stock

Zscaler, Inc. (NASDAQ:ZS) insider Syam Nair sold 3,682 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 142,866 shares of the company’s stock, valued at $28,618,917.12. This represents a 2.51 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Zscaler Trading Down 1.3 %

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

Zscaler (NASDAQ:ZS) last released its earnings results on Monday, December 2nd. The company reported $0.77 EPS for the quarter, topping the consensus estimate of $0.63 by $0.14. The company had revenue of $628.00 million during the quarter, compared to analysts’ expectations 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 was up 26.4% on a year-over-year basis. During the same quarter last year, the business earned ($0.18) EPS. As a group, research analysts anticipate that Zscaler, Inc. will post -0.24 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently commented on ZS. UBS Group lowered their target price on Zscaler from $270.00 to $250.00 and set a “buy” rating for the company in a research note on Wednesday, September 4th. JPMorgan Chase & Co. upped their target price on shares of Zscaler from $220.00 to $240.00 and gave the stock an “overweight” rating in a research note on Friday, November 29th. KeyCorp lifted their price target on shares of Zscaler from $245.00 to $250.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 3rd. Jefferies Financial Group increased their price objective on shares of Zscaler from $225.00 to $245.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Finally, Wells Fargo & Company lifted their price objective on shares of Zscaler from $180.00 to $190.00 and gave the stock an “equal weight” rating in a research report on Wednesday, December 4th. Eleven equities research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $224.84.

Institutional Investors Weigh In On Zscaler

A number of institutional investors have recently added to or reduced their stakes in ZS. Geode Capital Management LLC boosted its position in shares of Zscaler by 3.9% during the 3rd quarter. Geode Capital Management LLC now owns 1,625,861 shares of the company’s stock worth $277,327,000 after purchasing an additional 60,414 shares in the last quarter. Champlain Investment Partners LLC grew its position in Zscaler by 28.2% during the third quarter. Champlain Investment Partners LLC now owns 1,289,350 shares of the company’s stock worth $220,401,000 after buying an additional 283,540 shares during the period. Bank of New York Mellon Corp increased its holdings in Zscaler by 5.3% in the second 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. Westfield Capital Management Co. LP lifted its position in shares of Zscaler by 33.8% during the 3rd quarter. Westfield Capital Management Co. LP now owns 399,516 shares of the company’s stock valued at $68,293,000 after acquiring an additional 100,814 shares during the period. Finally, Federated Hermes Inc. boosted its stake in shares of Zscaler by 18.3% during 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 in the last quarter. Hedge funds and other institutional investors own 46.45% of the company’s stock.

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.