Insider Selling: Zscaler, Inc. (NASDAQ:ZS) EVP Sells 2,957 Shares of Stock

Zscaler, Inc. (NASDAQ:ZS - Get Free Report) EVP Raj Judge sold 2,957 shares of the company's stock in a transaction dated Tuesday, June 17th. The stock was sold at an average price of $303.70, for a total transaction of $898,040.90. Following the transaction, the executive vice president now owns 76,289 shares of the company's stock, valued at approximately $23,168,969.30. This trade represents a 3.73% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Zscaler Stock Down 0.6%

Shares of NASDAQ ZS traded down $1.90 during midday trading on Wednesday, reaching $305.41. 2,019,325 shares of the stock were exchanged, compared to its average volume of 2,056,870. The company has a 50 day simple moving average of $245.91 and a 200 day simple moving average of $214.17. Zscaler, Inc. has a twelve month low of $153.45 and a twelve month high of $309.19.

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

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. The Goldman Sachs Group set a $207.00 price target on shares of Zscaler and gave the stock a "neutral" rating in a research report on Thursday, March 6th. Barclays upped their price target on shares of Zscaler from $275.00 to $290.00 and gave the stock an "overweight" rating in a research report on Friday, May 30th. Scotiabank upped their price target on shares of Zscaler from $310.00 to $360.00 and gave the stock a "sector outperform" rating in a research report on Friday, June 6th. Needham & Company LLC upped their price target on shares of Zscaler from $240.00 to $310.00 and gave the stock a "buy" rating in a research report on Friday, May 30th. Finally, Wells Fargo & Company upgraded shares of Zscaler from an "equal weight" rating to an "overweight" rating and upped their price target for the stock from $260.00 to $385.00 in a research report on Friday, June 13th. Eight research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $294.03.

Hedge Funds Weigh In On Zscaler

A number of hedge funds have recently made changes to their positions in the stock. Howe & Rusling Inc. boosted its position in shares of Zscaler by 17.1% during the 1st quarter. Howe & Rusling Inc. now owns 24,672 shares of the company's stock worth $4,895,000 after purchasing an additional 3,611 shares during the period. Anderson Financial Strategies LLC purchased a new position in shares of Zscaler during the 1st quarter worth approximately $238,000. Geneos Wealth Management Inc. boosted its position in shares of Zscaler by 26.7% during the 1st quarter. Geneos Wealth Management Inc. now owns 6,170 shares of the company's stock worth $1,224,000 after purchasing an additional 1,299 shares during the period. Belpointe Asset Management LLC boosted its position in shares of Zscaler by 10.8% during the 1st quarter. Belpointe Asset Management LLC now owns 1,166 shares of the company's stock worth $231,000 after purchasing an additional 114 shares during the period. Finally, Jupiter Wealth Management LLC purchased a new position in shares of Zscaler during the 1st quarter worth approximately $298,000. Hedge funds and other institutional investors own 46.45% of the company's stock.

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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