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 stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $200.32, for a total transaction of $737,578.24. Following the transaction, the insider now owns 142,866 shares of the company’s stock, valued at approximately $28,618,917.12. This represents a 2.51 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Zscaler Trading Down 1.3 %

Shares of ZS opened at $183.21 on Friday. The company has a market capitalization of $28.11 billion, a PE ratio of -732.84 and a beta of 0.82. The stock’s 50-day moving average price is $197.72 and its two-hundred day moving average price is $187.55. Zscaler, Inc. has a 12 month low of $153.45 and a 12 month high of $259.61.

Zscaler (NASDAQ:ZS) last announced its earnings results on Monday, December 2nd. The company reported $0.77 EPS for the quarter, beating the consensus estimate of $0.63 by $0.14. Zscaler had a negative return on equity of 0.75% and a negative net margin of 1.58%. The business had revenue of $628.00 million for the quarter, compared to analysts’ expectations of $605.51 million. During the same period in the prior year, the business posted ($0.18) earnings per share. The firm’s revenue was up 26.4% on a year-over-year basis. Equities research analysts predict that Zscaler, Inc. will post -0.24 EPS for the current fiscal year.

Hedge Funds Weigh In On Zscaler

Hedge funds and other institutional investors have recently bought and sold shares of the company. Champlain Investment Partners LLC raised its position in shares of Zscaler by 28.2% in the 3rd quarter. Champlain Investment Partners LLC now owns 1,289,350 shares of the company’s stock worth $220,401,000 after acquiring an additional 283,540 shares in the last quarter. International Assets Investment Management LLC lifted its stake in Zscaler by 13,498.6% in the third quarter. International Assets Investment Management LLC now owns 285,299 shares of the company’s stock valued at $48,769,000 after buying an additional 283,201 shares during the period. GuoLine Advisory Pte Ltd acquired a new stake in shares of Zscaler during the 3rd quarter worth approximately $32,660,000. Massachusetts Financial Services Co. MA bought a new stake in shares of Zscaler in the 2nd quarter valued at $25,287,000. Finally, 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. Institutional investors and hedge funds own 46.45% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on ZS. JMP Securities reissued a “market outperform” rating and set a $240.00 price target (down from $270.00) on shares of Zscaler in a research report on Tuesday, December 3rd. Robert W. Baird cut their price target on shares of Zscaler from $260.00 to $225.00 and set an “outperform” rating for the company in a research note on Wednesday, September 4th. Oppenheimer lifted their price objective on shares of Zscaler from $230.00 to $250.00 and gave the company an “outperform” rating in a research report on Tuesday, December 3rd. UBS Group dropped their target price on shares of Zscaler from $270.00 to $250.00 and set a “buy” rating on the stock in a report on Wednesday, September 4th. Finally, BMO Capital Markets lifted their price target on Zscaler from $197.00 to $222.00 and gave the stock an “outperform” rating in a report on Tuesday, December 3rd. Eleven research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $224.84.

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.