Zscaler, Inc. (NASDAQ:ZS) Insider Sells $1,123,208.64 in Stock

Zscaler, Inc. (NASDAQ:ZS - Get Free Report) insider Adam Geller sold 3,662 shares of the business's stock in a transaction dated Wednesday, June 18th. The stock was sold at an average price of $306.72, for a total transaction of $1,123,208.64. Following the completion of the sale, the insider now owns 46,813 shares in the company, valued at $14,358,483.36. This represents a 7.26% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Adam Geller also recently made the following trade(s):

• On Tuesday, June 17th, Adam Geller sold 3,009 shares of Zscaler stock. The shares were sold at an average price of $303.70, for a total transaction of $913,833.30.

Zscaler Price Performance

Shares of ZS traded down $1.90 during trading hours on Wednesday, reaching $305.41. 2,019,325 shares of the company's stock traded hands, 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 business's fifty day simple moving average is $245.91 and its two-hundred day simple moving average is $214.17.

Zscaler (NASDAQ:ZS - Get Free Report) last announced its quarterly earnings data 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 return on equity of 0.59% and a negative net margin of 1.52%. The company had revenue of $678.03 million during the quarter, compared to the consensus estimate of $667.13 million. During the same quarter in the prior year, the firm earned $0.88 EPS. The company's quarterly revenue was up 22.6% compared to the same quarter last year. Equities analysts anticipate that Zscaler, Inc. will post -0.1 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Oppenheimer raised their price target on Zscaler from $290.00 to $345.00 and gave the stock an "outperform" rating in a research note on Friday, June 6th. Cantor Fitzgerald upped their price objective on Zscaler from $290.00 to $340.00 and gave the stock an "overweight" rating in a report on Wednesday, June 11th. Morgan Stanley increased their target price 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. BTIG Research increased their target price on shares of Zscaler from $298.00 to $329.00 and gave the stock a "buy" rating in a research report on Wednesday, June 4th. Finally, Susquehanna increased their target price on shares of Zscaler from $245.00 to $320.00 and gave the stock a "positive" rating in a research report on Friday, May 30th. Eight 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. Based on data from MarketBeat, Zscaler has an average rating of "Moderate Buy" and a consensus price target of $294.03.

Hedge Funds Weigh In On Zscaler

Institutional investors have recently bought and sold shares of the stock. Merit Financial Group LLC increased its stake in Zscaler by 42.0% in the 1st quarter. Merit Financial Group LLC now owns 6,197 shares of the company's stock worth $1,230,000 after purchasing an additional 1,832 shares in the last quarter. Arlington Capital Management Inc. bought a new stake in Zscaler in the fourth quarter worth approximately $2,107,000. DnB Asset Management AS raised its stake in shares of Zscaler by 66.8% in the 4th quarter. DnB Asset Management AS now owns 667,383 shares of the company's stock valued at $120,403,000 after acquiring an additional 267,162 shares in the last quarter. Norges Bank bought a new position in shares of Zscaler in the 4th quarter valued at approximately $32,158,000. Finally, Light Street Capital Management LLC acquired a new position in shares of Zscaler during the fourth quarter worth approximately $5,992,000. 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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