Zscaler, Inc. (NASDAQ:ZS) CEO Sells $488,490.56 in Stock

Zscaler, Inc. (NASDAQ:ZS) CEO Jagtar Singh Chaudhry sold 2,852 shares of the company’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $171.28, for a total transaction of $488,490.56. Following the completion of the sale, the chief executive officer now owns 361,432 shares of the company’s stock, valued at approximately $61,906,072.96. The transaction was disclosed in a filing with the SEC, which is available through this link.

Zscaler Price Performance

Shares of NASDAQ:ZS traded down $1.80 on Wednesday, hitting $168.52. The company’s stock had a trading volume of 1,472,951 shares, compared to its average volume of 2,156,157. The company has a market capitalization of $25.70 billion, a PE ratio of -331.96 and a beta of 0.82. The company has a 50-day simple moving average of $182.91 and a 200 day simple moving average of $183.60. Zscaler, Inc. has a 1 year low of $146.59 and a 1 year high of $259.61.

Zscaler (NASDAQ:ZS) last announced its earnings results on Tuesday, September 3rd. The company reported $0.88 earnings per share for the quarter, beating analysts’ consensus estimates of $0.70 by $0.18. Zscaler had a negative net margin of 2.66% and a negative return on equity of 3.46%. The business had revenue of $592.90 million for the quarter, compared to the consensus estimate of $567.46 million. During the same period last year, the firm posted ($0.17) earnings per share. Zscaler’s quarterly revenue was up 30.3% on a year-over-year basis. On average, equities research analysts expect that Zscaler, Inc. will post -0.92 earnings per share for the current fiscal year.

Institutional Trading of Zscaler

A number of hedge funds have recently made changes to their positions in ZS. Quest Partners LLC purchased a new position in shares of Zscaler during the 2nd quarter valued at about $28,000. Jones Financial Companies Lllp bought a new position in Zscaler during the fourth quarter valued at approximately $29,000. Quadrant Capital Group LLC raised its stake in shares of 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 in the last quarter. Asset Dedication LLC lifted its holdings in shares of Zscaler by 436.8% in the 2nd quarter. Asset Dedication LLC now owns 204 shares of the company’s stock worth $39,000 after acquiring an additional 166 shares during the last quarter. Finally, American Capital Advisory LLC purchased a new stake in shares of Zscaler in the 2nd quarter valued at $50,000. 46.45% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on ZS. Bank of America cut shares of Zscaler from a “buy” rating to a “neutral” rating and cut their price target for the stock from $265.00 to $195.00 in a report on Wednesday, September 4th. Morgan Stanley boosted their target price on Zscaler from $202.00 to $215.00 and gave the stock an “equal weight” rating in a research note on Monday, August 26th. Piper Sandler decreased their price target on Zscaler from $255.00 to $215.00 and set an “overweight” rating for the company in a research report on Wednesday, September 4th. Scotiabank dropped their price target on Zscaler from $210.00 to $195.00 and set a “sector outperform” rating on the stock in a report on Wednesday, September 4th. Finally, Cantor Fitzgerald reduced their price objective on Zscaler from $200.00 to $170.00 and set a “neutral” rating for the company in a research note on Wednesday, September 4th. Nine analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Zscaler currently has an average rating of “Moderate Buy” and an average target price of $218.39.

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.