Insider Selling: Zscaler, Inc. (NASDAQ:ZS) CEO Sells 81,890 Shares of Stock

Zscaler, Inc. (NASDAQ:ZSGet Rating) CEO Jagtar Singh Chaudhry sold 81,890 shares of the firm’s stock in a transaction on Friday, September 16th. The shares were sold at an average price of $167.97, for a total transaction of $13,755,063.30. Following the sale, the chief executive officer now owns 281,107 shares in the company, valued at approximately $47,217,542.79. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

Zscaler Trading Down 3.7 %

ZS opened at $169.49 on Friday. The stock has a market cap of $24.04 billion, a PE ratio of -61.19 and a beta of 1.02. 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 business has a 50 day moving average of $162.68 and a 200-day moving average of $178.10. Zscaler, Inc. has a 52 week low of $125.12 and a 52 week high of $376.11.

Zscaler (NASDAQ:ZSGet Rating) last posted its quarterly earnings data on Thursday, September 8th. The company reported $0.25 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.05. Zscaler had a negative return on equity of 56.62% and a negative net margin of 35.77%. The company had revenue of $318.06 million during the quarter, compared to analyst estimates of $305.54 million. During the same quarter last year, the company earned ($0.48) EPS. The firm’s revenue for the quarter was up 61.4% on a year-over-year basis. Equities research analysts predict that Zscaler, Inc. will post -2.15 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently weighed in on ZS shares. Jefferies Financial Group started coverage on shares of Zscaler in a research report on Thursday. They set a “hold” rating and a $200.00 price objective on the stock. Credit Suisse Group decreased their target price on shares of Zscaler from $310.00 to $275.00 and set an “outperform” rating on the stock in a research report on Friday, September 9th. Robert W. Baird cut their price target on shares of Zscaler from $300.00 to $200.00 and set an “outperform” rating for the company in a research report on Friday, May 27th. Canaccord Genuity Group lifted their price objective on Zscaler from $210.00 to $220.00 in a report on Friday, September 9th. Finally, Wolfe Research increased their target price on Zscaler from $204.00 to $211.00 and gave the company an “outperform” rating in a report on Monday, September 12th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, twenty-six have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Zscaler currently has a consensus rating of “Moderate Buy” and an average target price of $234.06.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Capital Research Global Investors increased its holdings in shares of Zscaler by 40.4% in the 1st quarter. Capital Research Global Investors now owns 4,377,330 shares of the company’s stock worth $1,056,162,000 after purchasing an additional 1,259,876 shares in the last quarter. First Trust Advisors LP increased its holdings in shares of Zscaler by 75.2% in the 1st quarter. First Trust Advisors LP now owns 2,265,816 shares of the company’s stock worth $546,696,000 after purchasing an additional 972,637 shares in the last quarter. Renaissance Technologies LLC bought a new stake in shares of Zscaler in the 1st quarter worth $168,365,000. Norges Bank bought a new stake in shares of Zscaler in the 4th quarter worth $202,020,000. Finally, Scge Management L.P. bought a new stake in shares of Zscaler in the 1st quarter worth $141,873,000. Institutional investors own 45.51% 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.

Further Reading

Insider Buying and Selling by Quarter for Zscaler (NASDAQ:ZS)

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