Insider Selling: Zscaler, Inc. (NASDAQ:ZS) Insider Sells 3,590 Shares of Stock

Zscaler, Inc. (NASDAQ:ZS - Get Free Report) insider Robert Schlossman sold 3,590 shares of the firm's stock in a transaction on Tuesday, June 17th. The stock was sold at an average price of $303.70, for a total transaction of $1,090,283.00. Following the transaction, the insider now directly owns 92,144 shares in the company, valued at $27,984,132.80. The trade was a 3.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

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

• On Wednesday, June 18th, Robert Schlossman sold 3,174 shares of Zscaler stock. The stock was sold at an average price of $305.07, for a total transaction of $968,292.18.
• On Wednesday, June 4th, Robert Schlossman sold 4,618 shares of Zscaler stock. The stock was sold at an average price of $300.00, for a total transaction of $1,385,400.00.
• 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.

Zscaler Price Performance

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

Zscaler (NASDAQ:ZS - Get Free Report) last posted its quarterly earnings results on Thursday, May 29th. The company reported $0.84 EPS for the quarter, beating 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 analyst estimates of $667.13 million. During the same period in the previous year, the business posted $0.88 EPS. The company's quarterly revenue was up 22.6% on a year-over-year basis. As a group, research analysts anticipate that Zscaler, Inc. will post -0.1 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. ORG Partners LLC boosted its stake in Zscaler by 284.8% during the 1st quarter. ORG Partners LLC now owns 127 shares of the company's stock valued at $26,000 after purchasing an additional 94 shares during the period. SVB Wealth LLC acquired a new stake in Zscaler during the first quarter valued at approximately $26,000. Summit Securities Group LLC acquired a new stake in Zscaler during the fourth quarter valued at approximately $27,000. Colonial Trust Co SC purchased a new stake in shares of Zscaler in the 4th quarter valued at approximately $28,000. Finally, Goodman Advisory Group LLC purchased a new position in Zscaler during the 1st quarter worth approximately $29,000. 46.45% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

ZS has been the topic of several recent analyst reports. Scotiabank upped their target price 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. Barclays raised their target price 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. JMP Securities raised their target price on shares of Zscaler from $240.00 to $310.00 and gave the stock a "market outperform" rating in a research report on Friday, May 30th. UBS Group reaffirmed a "buy" rating and set a $315.00 price target (up previously from $260.00) on shares of Zscaler in a research note on Friday, May 30th. Finally, Oppenheimer increased their price target on shares of Zscaler from $290.00 to $345.00 and gave the stock an "outperform" rating in a research note on Friday, June 6th. Eight research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $294.03.

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.

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