Zscaler, Inc. (NASDAQ:ZS) Insider Sells $1,385,400.00 in Stock

Zscaler, Inc. (NASDAQ:ZS) insider Robert Schlossman sold 4,618 shares of the firm’s stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $300.00, for a total transaction of $1,385,400.00. Following the completion of the sale, the insider now owns 95,612 shares of the company’s stock, valued at $28,683,600. This trade represents a 4.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Robert Schlossman also recently made the following trade(s):

• On Friday, May 16th, Robert Schlossman sold 3,590 shares of Zscaler stock. The stock was sold at an average price of $250.00, for a total transaction of $897,500.00.
• On Tuesday, March 18th, Robert Schlossman sold 2,878 shares of Zscaler stock. The stock was sold at an average price of $199.15, for a total transaction of $573,153.70.

Zscaler Trading Up 0.7%

Shares of NASDAQ:ZS opened at $303.03 on Monday. Zscaler, Inc. has a 12 month low of $153.45 and a 12 month high of $306.78. The company has a 50-day moving average price of $229.85 and a 200 day moving average price of $209.61. The company has a market cap of $47.18 billion, a price-to-earnings ratio of -1,212.12 and a beta of 1.09.

Zscaler (NASDAQ:ZS) last announced its quarterly earnings results on Thursday, May 29th. The company reported $0.84 EPS for the quarter, beating analysts’ consensus estimates of $0.76 by $0.08. Zscaler had a negative net margin of 1.58% and a negative return on equity of 0.75%. The firm had revenue of $678.03 million during the quarter, compared to the consensus estimate of $667.13 million. During the same quarter last year, the firm earned $0.88 EPS. The firm’s revenue for the quarter was up 22.6% compared to the same quarter last year. As a group, equities analysts forecast that Zscaler, Inc. will post -0.1 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in shares of Zscaler by 3.1% in the 1st quarter. Vanguard Group Inc. now owns 9,890,506 shares of the company’s stock valued at $1,962,474,000 after acquiring an additional 294,034 shares during the last quarter. Goldman Sachs Group Inc. raised its position in Zscaler by 23.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 3,048,238 shares of the company’s stock worth $604,831,000 after purchasing an additional 578,883 shares during the period. T. Rowe Price Investment Management Inc. purchased a new stake in Zscaler in the 1st quarter worth about $516,622,000. Geode Capital Management LLC raised its position in Zscaler by 2.0% in the 4th quarter. Geode Capital Management LLC now owns 1,658,406 shares of the company’s stock worth $298,710,000 after purchasing an additional 32,545 shares during the period. Finally, Pictet Asset Management Holding SA raised its position in Zscaler by 25.8% in the 4th quarter. Pictet Asset Management Holding SA now owns 1,618,176 shares of the company’s stock worth $291,935,000 after purchasing an additional 332,307 shares during the period. Institutional investors own 46.45% of the company’s stock.

Analyst Upgrades and Downgrades

ZS has been the subject of a number of analyst reports. Morgan Stanley raised their target price on shares of Zscaler from $200.00 to $280.00 and gave the company an “equal weight” rating in a research note on Friday, May 30th. Wedbush raised their target price on shares of Zscaler from $240.00 to $300.00 and gave the company an “outperform” rating in a research note on Friday, May 30th. Bank of America raised shares of Zscaler from a “neutral” rating to a “buy” rating and raised their price target for the company from $215.00 to $240.00 in a research report on Friday, March 7th. Citigroup restated a “buy” rating and issued a $240.00 price objective (up from $235.00) on shares of Zscaler in a report on Wednesday, March 5th. Finally, The Goldman Sachs Group set a $207.00 price objective on shares of Zscaler and gave the stock a “neutral” rating in a report on Thursday, March 6th. Nine analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Zscaler currently has a consensus rating of “Moderate Buy” and an average target price of $283.85.

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.