Zscaler, Inc. (NASDAQ:ZS) CFO Sells $1,448,172.40 in Stock

Zscaler, Inc. (NASDAQ:ZS) CFO Remo Canessa sold 8,455 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $171.28, for a total value of $1,448,172.40. Following the sale, the chief financial officer now owns 231,793 shares in the company, valued at $39,701,505.04. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Remo Canessa also recently made the following trade(s):

• On Thursday, June 20th, Remo Canessa sold 7,981 shares of Zscaler stock. The shares were sold at an average price of $177.21, for a total transaction of $1,414,313.01.

Zscaler Stock Performance

Shares of ZS traded down $1.80 during mid-day trading on Wednesday, reaching $168.52. 1,472,951 shares of the company’s stock traded hands, compared to its average volume of 2,156,157. Zscaler, Inc. has a 12 month low of $146.59 and a 12 month high of $259.61. The stock has a market capitalization of $25.70 billion, a P/E ratio of -331.96 and a beta of 0.82. The business’s 50-day moving average price is $182.91 and its 200-day moving average price is $183.60.

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

Hedge Funds Weigh In On Zscaler

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. US Bancorp DE boosted its stake in Zscaler by 0.3% during the 4th quarter. US Bancorp DE now owns 22,944 shares of the company’s stock valued at $5,083,000 after purchasing an additional 59 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in Zscaler by 8.6% during the second quarter. EverSource Wealth Advisors LLC now owns 832 shares of the company’s stock valued at $149,000 after buying an additional 66 shares in the last quarter. Kovack Advisors Inc. grew its holdings in Zscaler by 3.4% during the first quarter. Kovack Advisors Inc. now owns 2,042 shares of the company’s stock worth $393,000 after acquiring an additional 67 shares during the period. GAMMA Investing LLC raised its position in Zscaler by 21.3% in the second quarter. GAMMA Investing LLC now owns 382 shares of the company’s stock worth $73,000 after acquiring an additional 67 shares in the last quarter. Finally, Quadrant Capital Group LLC lifted its holdings in Zscaler by 66.7% in the 4th quarter. Quadrant Capital Group LLC now owns 175 shares of the company’s stock valued at $39,000 after acquiring an additional 70 shares during the last quarter. Institutional investors own 46.45% of the company’s stock.

Analyst Ratings Changes

ZS has been the subject of several analyst reports. Morgan Stanley upped their target price on shares of Zscaler from $202.00 to $215.00 and gave the company an “equal weight” rating in a research note on Monday, August 26th. Royal Bank of Canada reissued an “outperform” rating and issued a $230.00 price objective on shares of Zscaler in a research report on Wednesday, September 4th. JMP Securities reiterated a “market outperform” rating and issued a $270.00 price target on shares of Zscaler in a research note on Wednesday, September 4th. BMO Capital Markets reduced their price target on Zscaler from $208.00 to $197.00 and set an “outperform” rating for the company in a report on Wednesday, September 4th. Finally, Raymond James initiated coverage on Zscaler in a report on Tuesday, July 23rd. They set a “market perform” rating on the stock. Nine equities research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target 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.