Insider Selling: 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 business’s stock in a transaction that occurred on Tuesday, September 17th. The stock was 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 directly owns 231,793 shares in the company, valued at approximately $39,701,505.04. The sale was disclosed in a legal filing with the SEC, which is available through this link.

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 0.1 %

ZS stock opened at $172.71 on Friday. Zscaler, Inc. has a 52 week low of $146.59 and a 52 week high of $259.61. The company has a market cap of $26.34 billion, a price-to-earnings ratio of -338.65 and a beta of 0.82. The business has a fifty day simple moving average of $181.87 and a 200-day simple moving average of $183.42.

Zscaler (NASDAQ:ZS) last announced its quarterly earnings results on Tuesday, September 3rd. The company reported $0.88 EPS for the quarter, topping the consensus estimate of $0.70 by $0.18. The company had revenue of $592.90 million during the quarter, compared to analyst estimates of $567.46 million. Zscaler had a negative return on equity of 3.46% and a negative net margin of 2.66%. The firm’s revenue was up 30.3% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.17) earnings per share. As a group, analysts expect that Zscaler, Inc. will post -0.92 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the business. Jones Financial Companies Lllp purchased a new position in Zscaler in the fourth quarter valued at about $29,000. Quest Partners LLC acquired a new stake in shares of Zscaler in the second quarter valued at about $28,000. Quadrant Capital Group LLC raised its holdings in shares of Zscaler by 66.7% during the 4th quarter. Quadrant Capital Group LLC now owns 175 shares of the company’s stock valued at $39,000 after buying an additional 70 shares during the period. Asset Dedication LLC lifted its position in Zscaler by 436.8% during the 2nd quarter. Asset Dedication LLC now owns 204 shares of the company’s stock worth $39,000 after acquiring an additional 166 shares in the last quarter. Finally, American Capital Advisory LLC purchased a new position in Zscaler in the 2nd quarter worth approximately $50,000. Hedge funds and other institutional investors own 46.45% of the company’s stock.

Analyst Upgrades and Downgrades

ZS has been the topic of several research reports. Morgan Stanley upped their target price on Zscaler from $202.00 to $215.00 and gave the company an “equal weight” rating in a report 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 note on Wednesday, September 4th. Wedbush cut 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. Bank of America lowered shares of Zscaler from a “buy” rating to a “neutral” rating and lowered their price target for the company from $265.00 to $195.00 in a research report on Wednesday, September 4th. Finally, BTIG Research dropped their price objective on shares of Zscaler from $220.00 to $205.00 and set a “buy” rating for the company in a research note on Wednesday, September 4th. Nine research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Zscaler currently has an average rating of “Moderate Buy” and an average target price 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.