Michael J. Rich Sells 4,813 Shares of Zscaler, Inc. (NASDAQ:ZS) Stock

Zscaler, Inc. (NASDAQ:ZS) insider Michael J. Rich sold 4,813 shares of the business’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $171.28, for a total value of $824,370.64. Following the sale, the insider now owns 103,259 shares of the company’s stock, valued at $17,686,201.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Zscaler Price Performance

ZS stock opened at $172.58 on Friday. The firm has a market capitalization of $26.32 billion, a P/E ratio of -338.39 and a beta of 0.82. The business’s 50-day moving average is $182.33 and its two-hundred day moving average is $183.49. Zscaler, Inc. has a 1 year low of $146.59 and a 1 year high of $259.61.

Zscaler (NASDAQ:ZS) last posted its quarterly earnings results on Tuesday, September 3rd. The company reported $0.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.70 by $0.18. The company had revenue of $592.90 million for the quarter, compared to analyst estimates of $567.46 million. Zscaler had a negative return on equity of 3.46% and a negative net margin of 2.66%. Zscaler’s revenue for the quarter was up 30.3% compared to the same quarter last year. During the same quarter last year, the company earned ($0.17) EPS. On average, analysts expect that Zscaler, Inc. will post -0.92 EPS for the current year.

Wall Street Analysts Forecast Growth

ZS has been the subject of several research reports. Wedbush dropped their price target on Zscaler from $260.00 to $220.00 and set an “outperform” rating for the company in a research report on Wednesday, September 4th. Canaccord Genuity Group dropped their target price on Zscaler from $260.00 to $220.00 and set a “buy” rating for the company in a report on Tuesday, June 4th. Mizuho cut Zscaler from an “outperform” rating to a “neutral” rating and set a $220.00 target price for the company. in a report on Tuesday, July 16th. Wells Fargo & Company dropped their target price on Zscaler from $182.00 to $180.00 and set an “equal weight” rating for the company in a report on Wednesday, September 4th. Finally, Morgan Stanley upped their target price on Zscaler from $202.00 to $215.00 and gave the company an “equal weight” rating in a report on Monday, August 26th. Nine investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $218.39.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in ZS. 1832 Asset Management L.P. purchased a new position in shares of Zscaler in the 4th quarter valued at about $217,683,000. Norges Bank purchased a new position in shares of Zscaler in the 4th quarter valued at about $117,599,000. Quadrature Capital Ltd purchased a new position in Zscaler during the 1st quarter worth approximately $47,217,000. Vanguard Group Inc. grew its stake in Zscaler by 2.4% during the 4th quarter. Vanguard Group Inc. now owns 8,843,772 shares of the company’s stock worth $1,959,426,000 after buying an additional 206,908 shares during the last quarter. Finally, Jupiter Asset Management Ltd. purchased a new position in Zscaler during the 1st quarter worth approximately $27,954,000. Hedge funds and other 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.