Insider Selling: Zscaler, Inc. (NASDAQ:ZS) CFO Sells 3,703 Shares of Stock

Zscaler, Inc. (NASDAQ:ZS) CFO Remo Canessa sold 3,703 shares of the company’s 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 completion of the transaction, the chief financial officer now owns 220,635 shares in the company, valued at approximately $44,197,603.20. This represents a 1.65 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Zscaler Price Performance

Shares of ZS opened at $187.38 on Friday. The firm has a market cap of $28.75 billion, a P/E ratio of -749.52 and a beta of 0.82. Zscaler, Inc. has a 1 year low of $153.45 and a 1 year high of $259.61. The company has a 50 day simple moving average of $197.50 and a two-hundred day simple moving average of $187.67.

Zscaler (NASDAQ:ZS) last posted its earnings results on Monday, December 2nd. The company reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.14. The company 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%. Zscaler’s quarterly revenue was up 26.4% on a year-over-year basis. During the same period last year, the company posted ($0.18) earnings per share. On average, sell-side analysts anticipate that Zscaler, Inc. will post -0.24 earnings per share for the current year.

Institutional Investors Weigh In On Zscaler

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

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $240.00 price objective on shares of Zscaler in a research report on Tuesday, December 3rd. UBS Group lowered their price target on Zscaler from $270.00 to $250.00 and set a “buy” rating on the stock in a report on Wednesday, September 4th. KeyCorp lifted their price objective on Zscaler from $245.00 to $250.00 and gave the stock an “overweight” rating in a report on Tuesday, December 3rd. Piper Sandler upped their target price on shares of Zscaler from $215.00 to $235.00 and gave the company an “overweight” rating in a research note on Tuesday, December 3rd. Finally, Oppenheimer lifted their price target on shares of Zscaler from $230.00 to $250.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 3rd. Eleven equities research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average 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.