Insider Selling: Zscaler, Inc. (NASDAQ:ZS) CFO Sells $1,414,313.01 in Stock

Zscaler, Inc. (NASDAQ:ZS) CFO Remo Canessa sold 7,981 shares of the firm’s stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $177.21, for a total value of $1,414,313.01. Following the transaction, the chief financial officer now owns 243,486 shares in the company, valued at $43,148,154.06. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

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

• On Tuesday, June 18th, Remo Canessa sold 4,689 shares of Zscaler stock. The stock was sold at an average price of $180.93, for a total value of $848,380.77.

Zscaler Price Performance

Shares of Zscaler stock opened at $178.92 on Thursday. The company has a quick ratio of 1.75, a current ratio of 1.75 and a debt-to-equity ratio of 1.04. Zscaler, Inc. has a twelve month low of $131.59 and a twelve month high of $259.61. The business has a 50-day moving average price of $176.10 and a 200 day moving average price of $202.96. The firm has a market cap of $27.04 billion, a PE ratio of -350.82 and a beta of 0.85.

Zscaler (NASDAQ:ZS) last posted its quarterly earnings data on Thursday, May 30th. The company reported $0.15 EPS for the quarter, topping 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 company had revenue of $553.20 million during the quarter, compared to analyst estimates of $535.55 million. Sell-side analysts predict that Zscaler, Inc. will post -0.34 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on ZS shares. The Goldman Sachs Group lifted their price target on Zscaler from $189.00 to $215.00 and gave the company a “neutral” rating in a report on Monday, March 4th. Loop Capital cut their price target on Zscaler from $225.00 to $180.00 and set a “hold” rating on the stock in a report on Friday, May 31st. UBS Group cut their price target on Zscaler from $300.00 to $270.00 and set a “buy” rating on the stock in a report on Wednesday, May 29th. Canaccord Genuity Group cut their price target on Zscaler from $260.00 to $220.00 and set a “buy” rating on the stock in a report on Tuesday, June 4th. Finally, Oppenheimer reiterated an “outperform” rating and issued a $260.00 price target (down from $290.00) on shares of Zscaler in a report on Friday, May 31st. Six equities research analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $225.21.

Institutional Investors Weigh In On Zscaler

Several large investors have recently bought and sold shares of the company. Envestnet Portfolio Solutions Inc. purchased a new stake in shares of Zscaler in the third quarter valued at approximately $448,000. Nordea Investment Management AB grew its position in shares of Zscaler by 2.6% in the third quarter. Nordea Investment Management AB now owns 5,289 shares of the company’s stock valued at $839,000 after purchasing an additional 136 shares in the last quarter. Acadian Asset Management LLC grew its position in shares of Zscaler by 4,047.3% in the third quarter. Acadian Asset Management LLC now owns 27,911 shares of the company’s stock valued at $4,337,000 after purchasing an additional 27,238 shares in the last quarter. Dark Forest Capital Management LP grew its position in shares of Zscaler by 7.5% in the third quarter. Dark Forest Capital Management LP now owns 4,666 shares of the company’s stock valued at $726,000 after purchasing an additional 324 shares in the last quarter. Finally, LPL Financial LLC grew its position in shares of Zscaler by 10.2% in the third quarter. LPL Financial LLC now owns 44,546 shares of the company’s stock valued at $6,931,000 after purchasing an additional 4,121 shares in the last quarter. 46.45% of the stock is currently owned by hedge funds and other institutional investors.

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.