Zscaler (NASDAQ:ZS) Shares Down 1.5%

Zscaler, Inc. (NASDAQ:ZS) traded down 1.5% during trading on Tuesday . The stock traded as low as $195.32 and last traded at $195.58. 481,621 shares changed hands during mid-day trading, a decline of 79% from the average session volume of 2,258,120 shares. The stock had previously closed at $198.62.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Oppenheimer reaffirmed an “outperform” rating and set a $260.00 price objective (down from $290.00) on shares of Zscaler in a report on Friday, May 31st. Morgan Stanley decreased their price target on shares of Zscaler from $214.00 to $202.00 and set an “equal weight” rating on the stock in a research note on Friday, May 24th. Citigroup cut their price objective on Zscaler from $270.00 to $240.00 and set a “buy” rating for the company in a research note on Wednesday, June 5th. Loop Capital lowered their price target on Zscaler from $225.00 to $180.00 and set a “hold” rating on the stock in a research note on Friday, May 31st. Finally, KeyCorp upgraded Zscaler from a “sector weight” rating to an “overweight” rating and set a $220.00 price target for the company in a research report on Thursday, April 18th. Six research analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $225.21.

Zscaler Stock Up 0.9 %

The company has a quick ratio of 1.75, a current ratio of 1.75 and a debt-to-equity ratio of 1.04. The business’s 50 day moving average is $178.25 and its 200-day moving average is $202.29.

Zscaler (NASDAQ:ZS) last posted its earnings results on Thursday, May 30th. The company reported $0.15 EPS for the quarter, beating the consensus estimate of ($0.24) by $0.39. Zscaler had a negative return on equity of 5.84% and a negative net margin of 3.62%. The firm had revenue of $553.20 million for the quarter, compared to analyst estimates of $535.55 million. On average, equities research analysts anticipate that Zscaler, Inc. will post -0.34 EPS for the current fiscal year.

Insider Buying and Selling at Zscaler

In other Zscaler news, CFO Remo Canessa sold 4,689 shares of the company’s stock in a transaction on Tuesday, June 18th. The shares were sold at an average price of $180.93, for a total value of $848,380.77. Following the completion of the transaction, the chief financial officer now owns 251,467 shares in the company, valued at $45,497,924.31. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 19.20% of the stock is currently owned by insiders.

Institutional Trading of Zscaler

A number of large investors have recently bought and sold shares of the business. Jones Financial Companies Lllp purchased a new position in Zscaler during the fourth quarter worth about $29,000. Parkside Financial Bank & Trust lifted its holdings in shares of Zscaler by 582.6% in the 4th quarter. Parkside Financial Bank & Trust now owns 157 shares of the company’s stock valued at $35,000 after buying an additional 134 shares during the period. GAMMA Investing LLC purchased a new stake in shares of Zscaler in the fourth quarter valued at approximately $37,000. Quadrant Capital Group LLC grew its holdings in Zscaler by 66.7% during the fourth quarter. Quadrant Capital Group LLC now owns 175 shares of the company’s stock worth $39,000 after acquiring an additional 70 shares during the period. Finally, Livforsakringsbolaget Skandia Omsesidigt raised its position in Zscaler by 109.0% in the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 209 shares of the company’s stock worth $46,000 after acquiring an additional 109 shares in the last quarter. Institutional investors and hedge funds own 46.45% of the company’s stock.

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.