Zscaler, Inc. (NASDAQ:ZS) CFO Remo Canessa Sells 5,010 Shares of Stock

Zscaler, Inc. (NASDAQ:ZS – Get Rating) CFO Remo Canessa sold 5,010 shares of the stock in a transaction that occurred on Thursday, June 16th. The stock was sold at an average price of $136.67, for a total value of $684,716.70. Following the sale, the chief financial officer now directly owns 262,388 shares of the company’s stock, valued at $35,860,567.96. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

ZS stock opened at $144.22 on Friday. Zscaler, Inc. has a 52-week low of $125.12 and a 52-week high of $376.11. The stock’s fifty day simple moving average is $173.51 and its 200-day simple moving average is $230.82. The company has a quick ratio of 2.24, a current ratio of 2.24 and a debt-to-equity ratio of 1.80. The stock has a market capitalization of $20.46 billion, a price-to-earnings ratio of -54.01 and a beta of 1.12.

Zscaler (NASDAQ:ZS – Get Rating) last issued its earnings results on Thursday, May 26th. The company reported ($0.61) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.63) by $0.02. Zscaler had a negative return on equity of 58.37% and a negative net margin of 38.52%. The firm had revenue of $286.81 million for the quarter, compared to analysts’ expectations of $271.47 million. During the same quarter last year, the firm earned ($0.30) earnings per share. The firm’s revenue for the quarter was up 62.6% compared to the same quarter last year. As a group, analysts anticipate that Zscaler, Inc. will post -2.32 earnings per share for the current fiscal year.

A number of research firms have weighed in on ZS. JPMorgan Chase & Co. decreased their price objective on Zscaler from $320.00 to $265.00 and set an “underweight” rating for the company in a research report on Friday, February 25th. UBS Group decreased their price objective on Zscaler from $325.00 to $200.00 and set a “buy” rating for the company in a research report on Friday, May 27th. Cowen decreased their price objective on Zscaler from $405.00 to $194.00 and set an “outperform” rating for the company in a research report on Friday, May 27th. Loop Capital reduced their price target on Zscaler from $360.00 to $245.00 in a report on Friday, February 25th. Finally, Barclays raised their price target on Zscaler from $147.00 to $168.00 and gave the company an “equal weight” rating in a report on Friday, May 27th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and twenty-five have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $248.26.

Institutional investors have recently modified their holdings of the stock. Dimensional Fund Advisors LP boosted its holdings in Zscaler by 0.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 119,445 shares of the company’s stock valued at $38,382,000 after acquiring an additional 900 shares during the last quarter. Westpac Banking Corp lifted its stake in shares of Zscaler by 1.3% during the fourth quarter. Westpac Banking Corp now owns 5,899 shares of the company’s stock worth $1,896,000 after purchasing an additional 73 shares in the last quarter. Stifel Financial Corp lifted its stake in shares of Zscaler by 20.2% during the fourth quarter. Stifel Financial Corp now owns 58,437 shares of the company’s stock worth $18,777,000 after purchasing an additional 9,808 shares in the last quarter. abrdn plc lifted its stake in shares of Zscaler by 5.2% during the fourth quarter. abrdn plc now owns 6,592 shares of the company’s stock worth $2,118,000 after purchasing an additional 328 shares in the last quarter. Finally, Mather Group LLC. acquired a new position in shares of Zscaler during the fourth quarter worth about $417,000. Hedge funds and other institutional investors own 43.41% of the company’s stock.

About Zscaler (Get Rating)

Zscaler, Inc operates as a cloud security company worldwide. The company provides Zscaler Internet Access solution that provides users, servers, operational technology, Internet of Things device 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.

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