Zscaler (NASDAQ:ZS) Reaches New 12-Month High - Here's What Happened

Zscaler, Inc. (NASDAQ:ZS - Get Free Report)'s share price reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $318.46 and last traded at $315.35, with a volume of 199124 shares trading hands. The stock had previously closed at $315.45.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. BTIG Research upped their price objective on shares of Zscaler from $298.00 to $329.00 and gave the stock a "buy" rating in a report on Wednesday, June 4th. Stifel Nicolaus increased their target price on shares of Zscaler from $270.00 to $295.00 and gave the stock a "buy" rating in a research report on Friday, May 30th. Wall Street Zen raised shares of Zscaler from a "hold" rating to a "buy" rating in a report on Sunday, June 8th. Loop Capital increased their price target on shares of Zscaler from $250.00 to $260.00 and gave the stock a "hold" rating in a report on Friday, May 30th. Finally, Jefferies Financial Group lowered their price target on shares of Zscaler from $245.00 to $240.00 and set a "buy" rating on the stock in a report on Monday, March 31st. Eight equities 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 data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $296.82.

Zscaler Stock Down 2.2%

The firm has a market cap of $45.11 billion, a P/E ratio of -1,114.38 and a beta of 1.11. The firm's fifty day moving average is $282.23 and its two-hundred day moving average is $227.71.

Zscaler (NASDAQ:ZS - Get Free Report) last released its quarterly earnings results on Thursday, May 29th. The company reported $0.84 earnings per share for the quarter, beating the consensus estimate of $0.76 by $0.08. The business had revenue of $678.03 million for the quarter, compared to analysts' expectations 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 for the quarter was up 22.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.88 earnings per share. As a group, sell-side analysts forecast that Zscaler, Inc. will post -0.1 EPS for the current year.

Insider Buying and Selling at Zscaler

In other Zscaler news, insider Adam Geller sold 3,662 shares of the firm's stock in a transaction on 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 transaction, the insider owned 46,813 shares of the company's stock, valued at approximately $14,358,483.36. This trade represents a 7.26% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Syam Nair sold 28,947 shares of the firm's stock in a transaction on Friday, May 16th. The shares were sold at an average price of $250.00, for a total value of $7,236,750.00. Following the transaction, the insider directly owned 110,566 shares of the company's stock, valued at $27,641,500. This represents a 20.75% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 200,793 shares of company stock valued at $58,752,794. Company insiders own 18.10% of the company's stock.

Hedge Funds Weigh In On Zscaler

Hedge funds have recently bought and sold shares of the company. GAMMA Investing LLC boosted its stake in Zscaler by 43.1% in the 1st quarter. GAMMA Investing LLC now owns 641 shares of the company's stock worth $127,000 after purchasing an additional 193 shares in the last quarter. Krane Funds Advisors LLC raised its position in Zscaler by 36.4% in the 1st quarter. Krane Funds Advisors LLC now owns 1,667 shares of the company's stock worth $331,000 after buying an additional 445 shares during the last quarter. Merit Financial Group LLC raised its position 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 buying an additional 1,832 shares during the last quarter. Arlington Capital Management Inc. purchased a new position in Zscaler in the 4th quarter worth about $2,107,000. Finally, DnB Asset Management AS raised its position in Zscaler by 66.8% in the 4th quarter. DnB Asset Management AS now owns 667,383 shares of the company's stock worth $120,403,000 after buying an additional 267,162 shares during the last quarter. Institutional investors 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.