Zscaler (ZS) Shares Down 5.6% Following Insider Selling
Zscaler Inc (NASDAQ:ZS) shares traded down 5.6% on Monday following insider selling activity. The stock traded as low as $40.10 and last traded at $40.26. 2,203,019 shares traded hands during trading, an increase of 59% from the average session volume of 1,386,217 shares. The stock had previously closed at $42.64.
Specifically, EVP Amit Sinha sold 4,807 shares of the firm’s stock in a transaction dated Thursday, September 13th. The stock was sold at an average price of $42.12, for a total transaction of $202,470.84. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Manoj Apte sold 107,544 shares of the firm’s stock in a transaction dated Thursday, September 13th. The shares were sold at an average price of $41.88, for a total value of $4,503,942.72. The disclosure for this sale can be found here. In the last three months, insiders sold 147,351 shares of company stock worth $6,127,764.
A number of analysts have recently weighed in on ZS shares. Zacks Investment Research upgraded shares of Zscaler from a “hold” rating to a “buy” rating and set a $46.00 target price for the company in a report on Thursday, June 21st. Needham & Company LLC increased their target price on shares of Zscaler from $45.00 to $47.50 and gave the stock a “strong-buy” rating in a report on Thursday, September 6th. Morgan Stanley increased their target price on shares of Zscaler from $26.00 to $31.00 and gave the stock an “equal weight” rating in a report on Friday, June 8th. Barclays increased their target price on shares of Zscaler from $30.00 to $36.00 and gave the stock an “equal weight” rating in a report on Thursday, June 7th. Finally, Deutsche Bank increased their target price on shares of Zscaler from $29.00 to $35.00 and gave the stock a “hold” rating in a report on Thursday, June 7th. Nine research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $36.71.
Zscaler (NASDAQ:ZS) last announced its quarterly earnings results on Wednesday, September 5th. The company reported ($0.01) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.05) by $0.04. The firm had revenue of $56.20 million for the quarter, compared to the consensus estimate of $50.72 million. Zscaler’s revenue was up 53.8% on a year-over-year basis. During the same period last year, the business earned ($0.07) EPS. equities analysts predict that Zscaler Inc will post -0.27 earnings per share for the current fiscal year.
Institutional investors and hedge funds have recently made changes to their positions in the stock. BlackRock Inc. bought a new stake in Zscaler in the 1st quarter worth approximately $114,000. Atlantic Trust Group LLC bought a new stake in Zscaler in the 1st quarter worth approximately $136,000. Point72 Asia Hong Kong Ltd bought a new stake in Zscaler in the 1st quarter worth approximately $209,000. Stevens Capital Management LP bought a new stake in Zscaler in the 2nd quarter worth approximately $211,000. Finally, New York State Common Retirement Fund bought a new stake in Zscaler in the 1st quarter worth approximately $238,000. 23.06% of the stock is owned by institutional investors.
Zscaler Company Profile (NASDAQ:ZS)
Zscaler, Inc operates as a cloud security company worldwide. The company develops a software-as-a-service based security platform that secures access for users and devices to applications and services. It serves airline and transportation, conglomerate, consumer good and retail, financial service, healthcare, manufacturing, media and communication, public sector and education, technology, and telecommunications service industries.
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