Insider Selling: Zscaler, Inc. (NASDAQ:ZS) CFO Sells 10,366 Shares of Stock

Zscaler, Inc. (NASDAQ:ZSGet Rating) CFO Remo Canessa sold 10,366 shares of the company’s stock in a transaction on Friday, September 16th. The stock was sold at an average price of $167.97, for a total value of $1,741,177.02. Following the sale, the chief financial officer now owns 293,093 shares of the company’s stock, valued at $49,230,831.21. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Zscaler Trading Down 3.7 %

NASDAQ ZS opened at $169.49 on Friday. The business has a 50 day simple moving average of $162.68 and a 200 day simple moving average of $178.10. Zscaler, Inc. has a one year low of $125.12 and a one year high of $376.11. The stock has a market capitalization of $24.04 billion, a P/E ratio of -61.19 and a beta of 1.02. The company has a debt-to-equity ratio of 1.80, a current ratio of 2.24 and a quick ratio of 2.24.

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

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on ZS shares. Jefferies Financial Group started coverage on Zscaler in a research report on Thursday. They set a “hold” rating and a $200.00 price objective for the company. BTIG Research downgraded Zscaler from a “buy” rating to a “neutral” rating in a research report on Tuesday, July 26th. Truist Financial dropped their target price on Zscaler from $275.00 to $250.00 and set a “buy” rating for the company in a research report on Tuesday, July 26th. Stifel Nicolaus increased their target price on Zscaler from $200.00 to $210.00 and gave the company a “buy” rating in a research report on Friday, September 9th. Finally, Piper Sandler increased their target price on Zscaler from $160.00 to $175.00 and gave the company a “neutral” rating in a research report on Friday, September 9th. One analyst has rated the stock with a sell rating, six have given a hold rating, twenty-six have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $234.06.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Brown Advisory Inc. lifted its holdings in shares of Zscaler by 2.3% in the second quarter. Brown Advisory Inc. now owns 4,311 shares of the company’s stock valued at $645,000 after purchasing an additional 97 shares in the last quarter. Royal London Asset Management Ltd. lifted its stake in Zscaler by 5.7% during the 2nd quarter. Royal London Asset Management Ltd. now owns 29,992 shares of the company’s stock valued at $4,487,000 after acquiring an additional 1,611 shares in the last quarter. Riverbridge Partners LLC bought a new position in Zscaler during the 2nd quarter valued at $641,000. M&G Investment Management Ltd. boosted its holdings in Zscaler by 5.9% during the 2nd quarter. M&G Investment Management Ltd. now owns 5,708 shares of the company’s stock worth $856,000 after acquiring an additional 316 shares during the last quarter. Finally, Legal & General Group Plc grew its stake in shares of Zscaler by 4.8% in the 2nd quarter. Legal & General Group Plc now owns 622,717 shares of the company’s stock worth $93,102,000 after acquiring an additional 28,579 shares in the last quarter. Institutional investors own 45.51% of the company’s stock.

Zscaler Company Profile

(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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