Zscaler, Inc. (NASDAQ:ZS) Short Interest Up 20.6% in December

Zscaler, Inc. (NASDAQ:ZS) was the target of a large growth in short interest in December. As of December 15th, there was short interest totalling 4,810,000 shares, a growth of 20.6% from the November 30th total of 3,990,000 shares. Based on an average daily volume of 1,800,000 shares, the days-to-cover ratio is currently 2.7 days. Approximately 5.1% of the shares of the company are sold short.

Zscaler Trading Down 1.6 %

Shares of ZS opened at $184.56 on Monday. The stock has a 50-day moving average price of $196.91 and a 200-day moving average price of $187.99. The company has a market cap of $28.32 billion, a PE ratio of -738.24 and a beta of 0.82. Zscaler has a 12-month low of $153.45 and a 12-month high of $259.61.

Zscaler (NASDAQ:ZS) last released its quarterly earnings data on Monday, December 2nd. The company reported $0.77 EPS for the quarter, topping the consensus estimate of $0.63 by $0.14. The firm had revenue of $628.00 million for the quarter, compared to the consensus estimate of $605.51 million. Zscaler had a negative return on equity of 0.75% and a negative net margin of 1.58%. The company’s quarterly revenue was up 26.4% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.18) earnings per share. As a group, analysts predict that Zscaler will post -0.24 earnings per share for the current year.

Insiders Place Their Bets

In other Zscaler news, CEO Jagtar Singh Chaudhry sold 2,863 shares of the firm’s stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $200.32, for a total value of $573,516.16. Following the sale, the chief executive officer now owns 358,569 shares of the company’s stock, valued at approximately $71,828,542.08. This trade represents a 0.79 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Robert Schlossman sold 1,435 shares of the business’s stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $181.70, for a total value of $260,739.50. Following the transaction, the insider now directly owns 105,806 shares of the company’s stock, valued at $19,224,950.20. This trade represents a 1.34 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 11,683 shares of company stock worth $2,313,619 in the last quarter. 18.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Zscaler

Institutional investors have recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC lifted its position in shares of Zscaler by 8.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 832 shares of the company’s stock worth $149,000 after purchasing an additional 66 shares during the period. American Trust lifted its stake in shares of Zscaler by 6.1% in the 2nd quarter. American Trust now owns 1,210 shares of the company’s stock valued at $233,000 after purchasing an additional 70 shares during the period. Valley Brook Capital Group Inc. boosted its position in shares of Zscaler by 4.0% during the third quarter. Valley Brook Capital Group Inc. now owns 1,972 shares of the company’s stock valued at $337,000 after purchasing an additional 75 shares in the last quarter. Rockline Wealth Management LLC grew its stake in Zscaler by 5.1% in the second quarter. Rockline Wealth Management LLC now owns 1,798 shares of the company’s stock worth $345,000 after purchasing an additional 88 shares during the period. Finally, Cynosure Group LLC raised its holdings in Zscaler by 4.4% in the third quarter. Cynosure Group LLC now owns 2,131 shares of the company’s stock worth $364,000 after purchasing an additional 89 shares in the last quarter. Hedge funds and other institutional investors own 46.45% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Jefferies Financial Group raised their price target on shares of Zscaler from $225.00 to $245.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. BTIG Research increased their price target on Zscaler from $205.00 to $238.00 and gave the company a “buy” rating in a research note on Wednesday, November 27th. JMP Securities reaffirmed a “market outperform” rating and issued a $240.00 price objective (down from $270.00) on shares of Zscaler in a research note on Tuesday, December 3rd. Wedbush decreased their target price on shares of Zscaler from $260.00 to $220.00 and set an “outperform” rating for the company in a research report on Wednesday, September 4th. Finally, Needham & Company LLC restated a “buy” rating and issued a $240.00 price target on shares of Zscaler in a research report on Tuesday, December 3rd. Eleven investment analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $224.84.

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.