Robert Schlossman Sells 4,947 Shares of Zscaler, Inc. (NASDAQ:ZS) Stock

Zscaler, Inc. (NASDAQ:ZS) insider Robert Schlossman sold 4,947 shares of Zscaler stock in a transaction on Monday, September 30th. The stock was sold at an average price of $170.22, for a total transaction of $842,078.34. Following the transaction, the insider now directly owns 107,241 shares of the company’s stock, valued at $18,254,563.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Zscaler Stock Up 1.6 %

Shares of ZS opened at $169.69 on Thursday. The stock has a market cap of $25.65 billion, a P/E ratio of -332.73 and a beta of 0.82. The business’s fifty day moving average is $177.85 and its 200 day moving average is $181.37. Zscaler, Inc. has a 12-month low of $149.63 and a 12-month high of $259.61.

Zscaler (NASDAQ:ZS) last issued its quarterly earnings data on Tuesday, September 3rd. The company reported ($0.05) EPS for the quarter, topping the consensus estimate of ($0.14) by $0.09. The firm had revenue of $592.90 million during the quarter, compared to the consensus estimate of $567.46 million. Zscaler had a negative return on equity of 3.46% and a negative net margin of 2.66%. The company’s quarterly revenue was up 30.3% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.17) earnings per share. On average, analysts expect that Zscaler, Inc. will post -0.95 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have recently issued reports on ZS shares. BMO Capital Markets cut their target price on shares of Zscaler from $208.00 to $197.00 and set an “outperform” rating for the company in a research note on Wednesday, September 4th. Citigroup reduced their price objective on Zscaler from $270.00 to $240.00 and set a “buy” rating for the company in a report on Wednesday, June 5th. Needham & Company LLC lowered their target price on Zscaler from $290.00 to $235.00 and set a “strong-buy” rating on the stock in a research note on Wednesday, September 4th. Wedbush dropped their price target on Zscaler from $260.00 to $220.00 and set an “outperform” rating for the company in a report on Wednesday, September 4th. Finally, Cantor Fitzgerald decreased their price objective on Zscaler from $200.00 to $170.00 and set a “neutral” rating on the stock in a report on Wednesday, September 4th. Nine investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $218.39.

Institutional Investors Weigh In On Zscaler

A number of institutional investors have recently added to or reduced their stakes in ZS. Vanguard Group Inc. boosted its stake in shares of Zscaler by 1.3% in the 1st quarter. Vanguard Group Inc. now owns 8,961,774 shares of the company’s stock worth $1,726,307,000 after buying an additional 118,002 shares during the last quarter. 1832 Asset Management L.P. purchased a new position in Zscaler in the fourth quarter worth $217,683,000. Mirae Asset Global Investments Co. Ltd. grew its stake in Zscaler by 19.9% in 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 during the period. Bank of New York Mellon Corp increased its position in shares of Zscaler by 5.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 496,047 shares of the company’s stock valued at $95,335,000 after purchasing an additional 25,181 shares during the last quarter. Finally, Federated Hermes Inc. boosted its holdings in shares of Zscaler by 18.3% in the 2nd quarter. Federated Hermes Inc. now owns 394,698 shares of the company’s stock worth $75,857,000 after buying an additional 61,037 shares during the last quarter. 46.45% of the stock is owned by institutional investors.

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.