Insider Selling: Zscaler, Inc. (NASDAQ:ZS) CFO Sells 4,689 Shares of Stock

Zscaler, Inc. (NASDAQ:ZS) CFO Remo Canessa sold 4,689 shares of Zscaler stock in a transaction that occurred on Tuesday, June 18th. The shares were sold at an average price of $180.93, for a total transaction of $848,380.77. Following the completion of the transaction, the chief financial officer now directly owns 251,467 shares in the company, valued at $45,497,924.31. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

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 value of $1,414,313.01.

Zscaler Stock Up 0.5 %

ZS stock opened at $179.55 on Monday. Zscaler, Inc. has a fifty-two week low of $131.59 and a fifty-two week high of $259.61. The stock has a fifty day moving average of $175.69 and a 200-day moving average of $203.37. The company has a market capitalization of $27.14 billion, a price-to-earnings ratio of -352.06 and a beta of 0.85. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.75 and a current ratio of 1.75.

Zscaler (NASDAQ:ZS) last issued its earnings results on Thursday, May 30th. The company reported $0.15 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.39. Zscaler had a negative net margin of 3.62% and a negative return on equity of 5.84%. The firm had revenue of $553.20 million during the quarter, compared to analyst estimates of $535.55 million. As a group, equities research analysts predict that Zscaler, Inc. will post -0.38 earnings per share for the current year.

Institutional Investors Weigh In On Zscaler

Hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its position in shares of Zscaler by 1.3% in the first quarter. Vanguard Group Inc. now owns 8,961,774 shares of the company’s stock valued at $1,726,307,000 after acquiring an additional 118,002 shares during the period. 1832 Asset Management L.P. bought a new position in Zscaler in the 4th quarter valued at $217,683,000. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Zscaler by 19.9% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 619,293 shares of the company’s stock valued at $119,294,000 after purchasing an additional 102,616 shares in the last quarter. Northern Trust Corp raised its position in shares of Zscaler by 5.6% in the third quarter. Northern Trust Corp now owns 556,446 shares of the company’s stock worth $86,577,000 after buying an additional 29,405 shares in the last quarter. Finally, Norges Bank bought a new stake in Zscaler during the fourth quarter valued at $117,599,000. Institutional investors own 46.45% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on ZS. BMO Capital Markets reaffirmed an “outperform” rating and issued a $208.00 price objective on shares of Zscaler in a research note on Friday, June 14th. Canaccord Genuity Group decreased their price target on shares of Zscaler from $260.00 to $220.00 and set a “buy” rating on the stock in a report on Tuesday, June 4th. Loop Capital dropped their price objective on shares of Zscaler from $225.00 to $180.00 and set a “hold” rating for the company in a research note on Friday, May 31st. Wedbush increased their price target on Zscaler from $250.00 to $260.00 and gave the company an “outperform” rating in a research note on Friday, March 1st. Finally, JPMorgan Chase & Co. upgraded Zscaler from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $205.00 to $230.00 in a research report on Friday, June 14th. Six investment analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $225.21.

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.