Insider Selling: Zscaler, Inc. (NASDAQ:ZS) COO Sells 32,239 Shares of Stock

Zscaler, Inc. (NASDAQ:ZSGet Rating) COO Dali Rajic sold 32,239 shares of the business’s stock in a transaction that occurred on Friday, September 16th. The stock was sold at an average price of $167.97, for a total value of $5,415,184.83. Following the sale, the chief operating officer now owns 290,599 shares of the company’s stock, valued at approximately $48,811,914.03. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Zscaler Price Performance

ZS opened at $169.49 on Friday. The company has a debt-to-equity ratio of 1.80, a quick ratio of 2.24 and a current ratio of 2.24. Zscaler, Inc. has a 1-year low of $125.12 and a 1-year high of $376.11. The company has a 50-day moving average of $162.68 and a 200-day moving average of $178.10. The company has a market capitalization of $24.04 billion, a P/E ratio of -61.19 and a beta of 1.02.

Zscaler (NASDAQ:ZSGet Rating) last announced its quarterly earnings data on Thursday, September 8th. The company reported $0.25 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.05. The firm had revenue of $318.06 million during 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%. Zscaler’s quarterly revenue was up 61.4% on a year-over-year basis. During the same period in the previous year, the company earned ($0.48) earnings per share. Equities analysts expect that Zscaler, Inc. will post -2.15 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. Wolfe Research boosted 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. Jefferies Financial Group initiated coverage on Zscaler in a report on Thursday. They issued a “hold” rating and a $200.00 target price for the company. Canaccord Genuity Group boosted their target price on shares of Zscaler from $210.00 to $220.00 in a research report on Friday, September 9th. Mizuho increased their price target on shares of Zscaler from $200.00 to $205.00 and gave the company a “buy” rating in a report on Friday, September 9th. Finally, Guggenheim started coverage on shares of Zscaler in a report on Friday, August 12th. They set a “buy” rating and a $233.00 price objective on the stock. One analyst has rated the stock with a sell rating, six have given a hold rating, twenty-six have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $234.06.

Hedge Funds Weigh In On Zscaler

Several institutional investors have recently made changes to their positions in the stock. Brown Advisory Inc. boosted its position in shares of Zscaler by 2.3% during the second quarter. Brown Advisory Inc. now owns 4,311 shares of the company’s stock worth $645,000 after buying an additional 97 shares during the period. Royal London Asset Management Ltd. lifted its position in Zscaler by 5.7% in the second quarter. Royal London Asset Management Ltd. now owns 29,992 shares of the company’s stock worth $4,487,000 after purchasing an additional 1,611 shares during the period. Riverbridge Partners LLC acquired a new stake in Zscaler in the second quarter worth approximately $641,000. M&G Investment Management Ltd. increased its holdings in shares of Zscaler by 5.9% in the second quarter. M&G Investment Management Ltd. now owns 5,708 shares of the company’s stock valued at $856,000 after buying an additional 316 shares in the last quarter. Finally, Legal & General Group Plc increased its holdings in shares of Zscaler by 4.8% in the second quarter. Legal & General Group Plc now owns 622,717 shares of the company’s stock valued at $93,102,000 after buying an additional 28,579 shares in the last quarter. 45.51% of the stock is owned by institutional investors.

About Zscaler

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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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