Zscaler, Inc. (NASDAQ:ZS) Insider Sells $1,090,283.00 in Stock

Zscaler, Inc. (NASDAQ:ZS) insider Robert Schlossman sold 3,590 shares of the company’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 approximately $27,984,132.80. This trade represents a 3.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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 value of $897,500.00.

Zscaler Stock Performance

Shares of NASDAQ:ZS opened at $302.94 on Friday. Zscaler, Inc. has a 1 year low of $153.45 and a 1 year high of $309.19. The stock has a market capitalization of $47.17 billion, a P/E ratio of -1,165.15 and a beta of 1.09. The stock has a 50-day simple moving average of $252.28 and a 200-day simple moving average of $216.18.

Zscaler (NASDAQ:ZS) last issued its earnings results on Thursday, May 29th. The company reported $0.84 earnings per share (EPS) for the quarter, topping 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 business had revenue of $678.03 million during the quarter, compared to analysts’ expectations of $667.13 million. During the same quarter in the previous year, the business earned $0.88 EPS. The company’s revenue for the quarter was up 22.6% on a year-over-year basis. Analysts predict that Zscaler, Inc. will post -0.1 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Wells Fargo & Company raised Zscaler from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $260.00 to $385.00 in a research note on Friday, June 13th. Jefferies Financial Group cut their price target on Zscaler from $245.00 to $240.00 and set a “buy” rating for the company in a research note on Monday, March 31st. Bank of America lifted their price target on Zscaler from $285.00 to $340.00 and gave the stock a “buy” rating in a research note on Monday, June 9th. 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, Stifel Nicolaus lifted their price target on Zscaler from $270.00 to $295.00 and gave the stock a “buy” rating in a research note on Friday, May 30th. Eight research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Zscaler presently has an average rating of “Moderate Buy” and an average target price of $294.03.

Institutional Trading of Zscaler

A number of institutional investors have recently modified their holdings of ZS. Howe & Rusling Inc. boosted its holdings in Zscaler by 17.1% in the 1st quarter. Howe & Rusling Inc. now owns 24,672 shares of the company’s stock worth $4,895,000 after acquiring an additional 3,611 shares during the period. Anderson Financial Strategies LLC purchased a new position in Zscaler in the 1st quarter worth approximately $238,000. Geneos Wealth Management Inc. boosted its holdings in Zscaler by 26.7% in the 1st quarter. Geneos Wealth Management Inc. now owns 6,170 shares of the company’s stock worth $1,224,000 after acquiring an additional 1,299 shares during the period. Belpointe Asset Management LLC boosted its holdings in Zscaler by 10.8% in the 1st quarter. Belpointe Asset Management LLC now owns 1,166 shares of the company’s stock worth $231,000 after acquiring an additional 114 shares during the period. Finally, Jupiter Wealth Management LLC purchased a new position in Zscaler in the 1st quarter worth approximately $298,000. 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.