Remo Canessa Sells 3,703 Shares of Zscaler, Inc. (NASDAQ:ZS) Stock

Zscaler, Inc. (NASDAQ:ZS) CFO Remo Canessa sold 3,703 shares of Zscaler stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $200.32, for a total transaction of $741,784.96. Following the transaction, the chief financial officer now owns 220,635 shares in the company, valued at approximately $44,197,603.20. The trade was a 1.65 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link.

Zscaler Stock Down 1.3 %

Zscaler stock traded down $2.48 on Thursday, hitting $183.21. The company’s stock had a trading volume of 2,546,252 shares, compared to its average volume of 2,060,923. The company has a fifty day moving average price of $197.97 and a 200-day moving average price of $187.58. The firm has a market cap of $28.11 billion, a P/E ratio of -732.84 and a beta of 0.82. Zscaler, Inc. has a one year low of $153.45 and a one year high of $259.61.

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

Wall Street Analysts Forecast Growth

ZS has been the topic of a number of research analyst reports. KeyCorp lifted their price target on Zscaler from $245.00 to $250.00 and gave the company an “overweight” rating in a report on Tuesday, December 3rd. BTIG Research upped their target price on Zscaler from $205.00 to $238.00 and gave the company a “buy” rating in a report on Wednesday, November 27th. Oppenheimer raised their price target on shares of Zscaler from $230.00 to $250.00 and gave the stock an “outperform” rating in a report on Tuesday, December 3rd. Susquehanna upped their price objective on shares of Zscaler from $210.00 to $225.00 and gave the company a “positive” rating in a research note on Tuesday, December 3rd. Finally, Jefferies Financial Group lifted their target price on shares of Zscaler from $225.00 to $245.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Eleven research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company. According to MarketBeat.com, Zscaler has an average rating of “Moderate Buy” and an average target price of $224.84.

Institutional Trading of Zscaler

Institutional investors have recently bought and sold shares of the stock. Louisiana State Employees Retirement System raised its stake in Zscaler by 2.6% during the second quarter. Louisiana State Employees Retirement System now owns 11,900 shares of the company’s stock worth $2,287,000 after acquiring an additional 300 shares in the last quarter. Zweig DiMenna Associates LLC grew its holdings in shares of Zscaler by 18.0% in the 2nd quarter. Zweig DiMenna Associates LLC now owns 44,691 shares of the company’s stock worth $8,589,000 after purchasing an additional 6,813 shares during the last quarter. TrueWealth Advisors LLC acquired a new stake in shares of Zscaler during the 2nd quarter worth about $312,000. First National Bank of Hutchinson bought a new position in Zscaler during the 2nd quarter valued at about $651,000. Finally, Clear Creek Financial Management LLC acquired a new position in Zscaler in the second quarter valued at about $395,000. Institutional investors and hedge funds own 46.45% of the company’s stock.

Zscaler Company Profile

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.