Insider Selling: Zscaler, Inc. (NASDAQ:ZS) CFO Sells $741,784.96 in 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 sale, the chief financial officer now directly owns 220,635 shares in the company, valued at $44,197,603.20. This trade represents a 1.65 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Zscaler Stock Up 2.3 %

Shares of ZS stock opened at $187.38 on Friday. The firm has a market capitalization of $28.75 billion, a price-to-earnings ratio of -749.52 and a beta of 0.82. The stock has a fifty day moving average of $197.50 and a 200 day moving average of $187.67. Zscaler, Inc. has a 52 week low of $153.45 and a 52 week high of $259.61.

Zscaler (NASDAQ:ZS) last posted its earnings results on Monday, December 2nd. The company reported $0.77 EPS for the quarter, topping the consensus estimate of $0.63 by $0.14. Zscaler had a negative net margin of 1.58% and a negative return on equity of 0.75%. The firm had revenue of $628.00 million during the quarter, compared to analysts’ expectations of $605.51 million. During the same period last year, the company posted ($0.18) EPS. The company’s quarterly revenue was up 26.4% compared to the same quarter last year. Equities research analysts anticipate that Zscaler, Inc. will post -0.24 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages recently issued reports on ZS. Royal Bank of Canada reiterated an “outperform” rating and issued a $230.00 price objective on shares of Zscaler in a research report on Tuesday, December 3rd. Needham & Company LLC reaffirmed a “buy” rating and issued a $240.00 price target on shares of Zscaler in a report on Tuesday, December 3rd. Scotiabank boosted their price objective on Zscaler from $195.00 to $205.00 and gave the stock a “sector outperform” rating in a report on Tuesday, December 3rd. Robert W. Baird lowered their target price on shares of Zscaler from $260.00 to $225.00 and set an “outperform” rating on the stock in a research note on Wednesday, September 4th. Finally, JMP Securities reissued a “market outperform” rating and issued a $240.00 price target (down previously from $270.00) on shares of Zscaler in a research note on Tuesday, December 3rd. Eleven equities research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company. According to MarketBeat.com, Zscaler presently has an average rating of “Moderate Buy” and a consensus price target of $224.84.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in ZS. Geode Capital Management LLC boosted its stake in Zscaler by 3.9% during the third quarter. Geode Capital Management LLC now owns 1,625,861 shares of the company’s stock worth $277,327,000 after acquiring an additional 60,414 shares in the last quarter. Champlain Investment Partners LLC boosted its position in shares of Zscaler by 28.2% in the 3rd quarter. Champlain Investment Partners LLC now owns 1,289,350 shares of the company’s stock worth $220,401,000 after purchasing an additional 283,540 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of Zscaler by 5.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 496,047 shares of the company’s stock worth $95,335,000 after purchasing an additional 25,181 shares in the last quarter. Westfield Capital Management Co. LP grew its stake in shares of Zscaler by 33.8% in the 3rd quarter. Westfield Capital Management Co. LP now owns 399,516 shares of the company’s stock worth $68,293,000 after buying an additional 100,814 shares during the last quarter. Finally, Federated Hermes Inc. raised its stake in Zscaler by 18.3% during the second quarter. Federated Hermes Inc. now owns 394,698 shares of the company’s stock valued at $75,857,000 after buying an additional 61,037 shares during the last quarter. Hedge funds and other institutional investors 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.