Zscaler Sees Unusually High Options Volume (NASDAQ:ZS)

Zscaler, Inc. (NASDAQ:ZS) was the recipient of some unusual options trading on Tuesday. Stock traders purchased 18,085 call options on the stock. This represents an increase of approximately 54% compared to the typical daily volume of 11,712 call options.

Analysts Set New Price Targets

Several research analysts have commented on ZS shares. Rosenblatt Securities reissued a “neutral” rating and set a $190.00 target price on shares of Zscaler in a research note on Wednesday, September 4th. JMP Securities reaffirmed a “market outperform” rating and issued a $270.00 price objective on shares of Zscaler in a research note on Monday, November 4th. BTIG Research decreased their price objective on shares of Zscaler from $220.00 to $205.00 and set a “buy” rating for the company in a research report on Wednesday, September 4th. Loop Capital dropped their target price on shares of Zscaler from $180.00 to $165.00 and set a “hold” rating on the stock in a report on Wednesday, September 4th. Finally, UBS Group cut their price target on shares of Zscaler from $270.00 to $250.00 and set a “buy” rating on the stock in a research report on Wednesday, September 4th. Ten investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $216.73.

Zscaler Stock Up 3.3 %

Shares of NASDAQ:ZS traded up $6.50 during midday trading on Tuesday, hitting $206.04. 642,235 shares of the stock traded hands, compared to its average volume of 2,028,563. The stock has a market capitalization of $31.42 billion, a PE ratio of -498.84 and a beta of 0.82. Zscaler has a one year low of $153.45 and a one year high of $259.61. The business’s 50 day moving average is $179.04 and its two-hundred day moving average is $181.76.

Zscaler (NASDAQ:ZS) last released its earnings results on Tuesday, September 3rd. The company reported ($0.05) EPS for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.09. Zscaler had a negative return on equity of 3.46% and a negative net margin of 2.66%. The company had revenue of $592.90 million during the quarter, compared to analysts’ expectations of $567.46 million. During the same quarter last year, the business posted ($0.17) EPS. The firm’s revenue for the quarter was up 30.3% compared to the same quarter last year. As a group, sell-side analysts forecast that Zscaler will post -0.95 earnings per share for the current year.

Insider Buying and Selling at Zscaler

In related news, 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 transaction of $1,448,172.40. Following the transaction, the chief financial officer now directly owns 231,793 shares of the company’s stock, valued at approximately $39,701,505.04. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Remo Canessa sold 8,455 shares of the company’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 transaction, the chief financial officer now owns 231,793 shares of the company’s stock, valued at approximately $39,701,505.04. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jagtar Singh Chaudhry sold 2,852 shares of the business’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $171.28, for a total value of $488,490.56. Following the completion of the sale, the chief executive officer now owns 361,432 shares of the company’s stock, valued at $61,906,072.96. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 30,502 shares of company stock worth $5,256,651 over the last 90 days. Company insiders own 19.20% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in ZS. State Board of Administration of Florida Retirement System lifted its stake in shares of Zscaler by 6.9% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 103,937 shares of the company’s stock worth $20,021,000 after purchasing an additional 6,683 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of Zscaler by 9.1% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 116,691 shares of the company’s stock worth $22,478,000 after purchasing an additional 9,689 shares in the last quarter. DekaBank Deutsche Girozentrale lifted its position in Zscaler by 7.1% during the third quarter. DekaBank Deutsche Girozentrale now owns 221,212 shares of the company’s stock valued at $37,495,000 after purchasing an additional 14,701 shares in the last quarter. Creative Planning grew its holdings in Zscaler by 7.6% during the third quarter. Creative Planning now owns 148,534 shares of the company’s stock valued at $25,390,000 after purchasing an additional 10,551 shares during the period. Finally, Massachusetts Financial Services Co. MA purchased a new stake in Zscaler in the second quarter worth about $25,287,000. 46.45% of the stock is owned by hedge funds and other institutional investors.

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.