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

Zscaler Trading Up 2.3 %

Shares of NASDAQ ZS opened at $187.38 on Friday. The firm has a 50-day moving average of $197.72 and a two-hundred day moving average of $187.55. The company has a market capitalization of $28.75 billion, a price-to-earnings ratio of -749.52 and a beta of 0.82. Zscaler, Inc. has a twelve month low of $153.45 and a twelve month high of $259.61.

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

Institutional Inflows and Outflows

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

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Scotiabank upped their target price on Zscaler from $195.00 to $205.00 and gave the company a “sector outperform” rating in a research report on Tuesday, December 3rd. KeyCorp increased their price objective on shares of Zscaler from $245.00 to $250.00 and gave the company an “overweight” rating in a research note on Tuesday, December 3rd. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Zscaler from $200.00 to $225.00 and gave the stock a “buy” rating in a research report on Tuesday, December 3rd. Wedbush reduced their price target on shares of Zscaler from $260.00 to $220.00 and set an “outperform” rating on the stock in a research report on Wednesday, September 4th. Finally, Jefferies Financial Group boosted their price objective on Zscaler from $225.00 to $245.00 and gave the company a “buy” rating in a report 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’s stock. According to MarketBeat, Zscaler presently has a consensus rating of “Moderate Buy” and a consensus target price of $224.84.

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.