Insider Selling: Zscaler, Inc. (NASDAQ:ZS) CEO Sells 2,849 Shares of Stock

Zscaler, Inc. (NASDAQ:ZS - Get Free Report) CEO Jagtar Singh Chaudhry sold 2,849 shares of Zscaler stock in a transaction that occurred on Tuesday, June 17th. The stock was sold at an average price of $303.70, for a total transaction of $865,241.30. Following the completion of the sale, the chief executive officer now owns 353,565 shares of the company's stock, valued at $107,377,690.50. This trade represents a 0.80% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Zscaler Price Performance

NASDAQ ZS traded down $1.90 on Wednesday, hitting $305.41. The company had a trading volume of 2,019,325 shares, compared to its average volume of 2,056,870. The company's fifty day moving average price is $245.91 and its 200-day moving average price is $214.17. Zscaler, Inc. has a 12-month low of $153.45 and a 12-month high of $309.19.

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

Institutional Investors Weigh In On Zscaler

A number of large investors have recently modified their holdings of ZS. ORG Partners LLC grew its holdings in shares of Zscaler by 284.8% during the first quarter. ORG Partners LLC now owns 127 shares of the company's stock worth $26,000 after buying an additional 94 shares in the last quarter. SVB Wealth LLC purchased a new stake in shares of Zscaler during the first quarter worth $26,000. Summit Securities Group LLC purchased a new stake in shares of Zscaler during the fourth quarter worth $27,000. Colonial Trust Co SC purchased a new stake in shares of Zscaler during the fourth quarter worth $28,000. Finally, Goodman Advisory Group LLC purchased a new stake in shares of Zscaler during the first quarter worth $29,000. Hedge funds and other institutional investors own 46.45% of the company's stock.

Analysts Set New Price Targets

Several analysts have commented on the stock. Cantor Fitzgerald lifted their price objective on shares of Zscaler from $290.00 to $340.00 and gave the company an "overweight" rating in a research note on Wednesday, June 11th. Truist Financial restated a "buy" rating and set a $300.00 price objective (up from $260.00) on shares of Zscaler in a research note on Friday, May 30th. Rosenblatt Securities lifted their price objective on shares of Zscaler from $235.00 to $315.00 and gave the company a "buy" rating in a research note on Friday, May 30th. Stephens restated an "overweight" rating and set a $255.00 price objective on shares of Zscaler in a research note on Tuesday, May 27th. Finally, KeyCorp lifted their price objective on shares of Zscaler from $290.00 to $310.00 and gave the company an "overweight" rating in a research note on Friday, May 30th. Eight equities research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $294.03.

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.

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