Zscaler, Inc. (NASDAQ:ZS) CEO Sells $573,516.16 in Stock

Zscaler, Inc. (NASDAQ:ZS - Get Free Report) CEO Jagtar Singh Chaudhry sold 2,863 shares of the stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $200.32, for a total transaction of $573,516.16. Following the transaction, the chief executive officer now owns 358,569 shares of the company's stock, valued at $71,828,542.08. The trade was a 0.79 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Zscaler Trading Down 1.3 %

NASDAQ ZS traded down $2.48 during midday trading on Thursday, hitting $183.21. The company had a trading volume of 2,546,252 shares, compared to its average volume of 2,060,923. The firm has a 50-day moving average price of $197.97 and a 200-day moving average price of $187.58. The company has a market capitalization of $28.11 billion, a PE ratio of -732.84 and a beta of 0.82. Zscaler, Inc. has a twelve month low of $153.45 and a twelve month high of $259.61.

Zscaler (NASDAQ:ZS - Get Free Report) last posted its quarterly earnings results on Monday, December 2nd. The company reported $0.77 EPS for the quarter, beating analysts' consensus estimates of $0.63 by $0.14. The business had revenue of $628.00 million during the quarter, compared to the consensus estimate of $605.51 million. Zscaler had a negative return on equity of 0.75% and a negative net margin of 1.58%. Zscaler's revenue for the quarter was up 26.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.18) earnings per share. On average, equities analysts anticipate that Zscaler, Inc. will post -0.24 EPS for the current year.

Institutional Trading of Zscaler

A number of institutional investors and hedge funds have recently made changes to their positions in ZS. Geode Capital Management LLC increased its stake in Zscaler by 3.9% in the third quarter. Geode Capital Management LLC now owns 1,625,861 shares of the company's stock valued at $277,327,000 after acquiring an additional 60,414 shares during the last quarter. Champlain Investment Partners LLC boosted its holdings in shares of Zscaler by 28.2% in the 3rd quarter. Champlain Investment Partners LLC now owns 1,289,350 shares of the company's stock valued at $220,401,000 after purchasing an additional 283,540 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of Zscaler by 5.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 496,047 shares of the company's stock valued at $95,335,000 after purchasing an additional 25,181 shares during the last quarter. Westfield Capital Management Co. LP raised its holdings in shares of Zscaler by 33.8% during the 3rd quarter. Westfield Capital Management Co. LP now owns 399,516 shares of the company's stock worth $68,293,000 after buying an additional 100,814 shares in the last quarter. Finally, Federated Hermes Inc. lifted its position in shares of Zscaler by 18.3% during the 2nd quarter. Federated Hermes Inc. now owns 394,698 shares of the company's stock worth $75,857,000 after buying an additional 61,037 shares during the last quarter. Institutional investors own 46.45% of the company's stock.

Analyst Ratings Changes

ZS has been the subject of a number of recent research reports. Morgan Stanley reduced their price objective on shares of Zscaler from $215.00 to $205.00 and set an "equal weight" rating for the company in a research note on Tuesday, December 3rd. Oppenheimer raised their price target on Zscaler from $230.00 to $250.00 and gave the company an "outperform" rating in a research note on Tuesday, December 3rd. Piper Sandler upped their price objective on Zscaler from $215.00 to $235.00 and gave the stock an "overweight" rating in a research note on Tuesday, December 3rd. BTIG Research raised their target price on shares of Zscaler from $205.00 to $238.00 and gave the company a "buy" rating in a research note on Wednesday, November 27th. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and set a $230.00 price target on shares of Zscaler in a research report on Tuesday, December 3rd. Eleven research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $224.84.

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.

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