Zscaler (NASDAQ:ZS) Trading Down 1.5%

Zscaler, Inc. (NASDAQ:ZS)’s stock price dropped 1.5% during mid-day trading on Tuesday . The company traded as low as $195.32 and last traded at $195.58. Approximately 481,621 shares changed hands during trading, a decline of 79% from the average daily volume of 2,258,120 shares. The stock had previously closed at $198.62.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. Oppenheimer reaffirmed an “outperform” rating and issued a $260.00 price target (down from $290.00) on shares of Zscaler in a research note on Friday, May 31st. BTIG Research cut their price target on Zscaler from $258.00 to $220.00 and set a “buy” rating for the company in a research note on Friday, May 31st. Barclays boosted their price target on Zscaler from $205.00 to $210.00 and gave the company an “overweight” rating in a research note on Friday, May 31st. Morgan Stanley reduced their target price on shares of Zscaler from $214.00 to $202.00 and set an “equal weight” rating for the company in a research note on Friday, May 24th. Finally, Stifel Nicolaus dropped their price target on shares of Zscaler from $270.00 to $220.00 and set a “buy” rating on the stock in a research note on Thursday, May 16th. Six analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Zscaler presently has a consensus rating of “Moderate Buy” and an average price target of $225.21.

Zscaler Stock Performance

The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.75 and a current ratio of 1.75. The company has a market cap of $29.78 billion, a price-to-earnings ratio of -383.49 and a beta of 0.84. The firm’s 50-day moving average price is $177.44 and its 200 day moving average price is $202.50.

Zscaler (NASDAQ:ZS) last released its earnings results on Thursday, May 30th. The company reported $0.15 EPS for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.39. The firm had revenue of $553.20 million during the quarter, compared to analyst estimates of $535.55 million. Zscaler had a negative net margin of 3.62% and a negative return on equity of 5.84%. On average, sell-side analysts anticipate that Zscaler, Inc. will post -0.34 EPS for the current year.

Insider Activity at Zscaler

In related news, CFO Remo Canessa sold 7,981 shares of the business’s stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $177.21, for a total transaction of $1,414,313.01. Following the completion of the transaction, the chief financial officer now owns 243,486 shares in the company, valued at $43,148,154.06. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 19.20% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Zscaler

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in shares of Zscaler by 1.3% in the first quarter. Vanguard Group Inc. now owns 8,961,774 shares of the company’s stock valued at $1,726,307,000 after purchasing an additional 118,002 shares during the last quarter. 1832 Asset Management L.P. acquired a new stake in Zscaler in the 4th quarter valued at $217,683,000. Mirae Asset Global Investments Co. Ltd. increased its stake in Zscaler by 19.9% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 619,293 shares of the company’s stock valued at $119,294,000 after buying an additional 102,616 shares during the last quarter. Norges Bank bought a new stake in Zscaler during the 4th quarter worth about $117,599,000. Finally, Westfield Capital Management Co. LP boosted its stake in shares of Zscaler by 19.1% during the 4th quarter. Westfield Capital Management Co. LP now owns 412,063 shares of the company’s stock worth $91,297,000 after buying an additional 65,980 shares during the last quarter. 46.45% of the stock is currently owned by institutional investors and hedge funds.

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.