Zscaler, Inc. (NASDAQ:ZS) Sees Large Increase in Short Interest

Zscaler, Inc. (NASDAQ:ZS) saw a large increase in short interest in July. As of July 15th, there was short interest totaling 6,180,000 shares, anincreaseof5,477.6% from the June 30th total of 110,800 shares. Based on an average daily trading volume, of 2,480,000 shares, the days-to-cover ratio is presently 2.5 days. Currently,6.4% of the company’s stock are short sold. Currently,6.4% of the company’s stock are short sold. Based on an average daily trading volume, of 2,480,000 shares, the days-to-cover ratio is presently 2.5 days.

Zscaler Stock Performance

NASDAQ ZS opened at $280.27 on Friday. The firm has a 50-day moving average of $295.21 and a 200-day moving average of $238.22. The stock has a market cap of $43.64 billion, a PE ratio of -1,077.96 and a beta of 1.06. Zscaler has a 52-week low of $153.45 and a 52-week high of $318.46.

Zscaler (NASDAQ:ZS) last issued its quarterly earnings data on Thursday, May 29th. The company reported $0.84 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.08. Zscaler had a negative net margin of 1.52% and a negative return on equity of 0.59%. The business had revenue of $678.03 million during the quarter, compared to analysts’ expectations of $667.13 million. During the same quarter in the previous year, the company earned $0.88 EPS. The business’s revenue was up 22.6% on a year-over-year basis. As a group, analysts predict that Zscaler will post -0.1 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

ZS has been the topic of several research analyst reports. Royal Bank Of Canada raised their price target on shares of Zscaler from $288.00 to $304.00 and gave the stock an “outperform” rating in a research report on Friday, May 30th. FBN Securities upgraded shares of Zscaler to a “strong-buy” rating in a report on Friday, May 30th. KeyCorp increased their target price on shares of Zscaler from $290.00 to $310.00 and gave the stock an “overweight” rating in a report on Friday, May 30th. Morgan Stanley increased their price objective on shares of Zscaler from $200.00 to $280.00 and gave the stock an “equal weight” rating in a research report on Friday, May 30th. Finally, Wedbush increased their price objective on shares of Zscaler from $240.00 to $300.00 and gave the stock an “outperform” rating in a research report on Friday, May 30th. Seven analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $296.82.

Insider Buying and Selling

In other Zscaler news, insider Robert Schlossman sold 3,174 shares of the stock in a transaction that occurred on Wednesday, June 18th. The shares were sold at an average price of $305.07, for a total value of $968,292.18. Following the completion of the sale, the insider owned 88,970 shares in the company, valued at $27,142,077.90. This represents a 3.44% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Adam Geller sold 3,662 shares of the firm’s stock in a transaction on Wednesday, June 18th. The shares were sold at an average price of $306.72, for a total transaction of $1,123,208.64. Following the transaction, the insider owned 46,813 shares in the company, valued at $14,358,483.36. This represents a 7.26% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 200,793 shares of company stock worth $58,752,794. Insiders own 18.10% of the company’s stock.

Institutional Trading of Zscaler

Hedge funds and other institutional investors have recently bought and sold shares of the business. ORG Partners LLC increased its holdings in Zscaler by 284.8% in the 1st quarter. ORG Partners LLC now owns 127 shares of the company’s stock valued at $26,000 after buying an additional 94 shares during the period. SVB Wealth LLC bought a new position in Zscaler in the 1st quarter valued at about $26,000. Colonial Trust Co SC bought a new position in Zscaler in the 4th quarter valued at about $28,000. Goodman Advisory Group LLC bought a new position in Zscaler in the 1st quarter valued at about $29,000. Finally, N.E.W. Advisory Services LLC bought a new position in Zscaler in the 1st quarter valued at about $29,000. Institutional investors and hedge funds own 46.45% of the company’s stock.

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.