Adam Geller Sells 3,662 Shares of Zscaler, Inc. (NASDAQ:ZS) Stock

Zscaler, Inc. (NASDAQ:ZS) insider Adam Geller sold 3,662 shares of the business’s stock in a transaction on Wednesday, June 18th. The stock was sold at an average price of $306.72, for a total value of $1,123,208.64. Following the transaction, the insider now owns 46,813 shares in the company, valued at approximately $14,358,483.36. This trade represents a 7.26% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Adam Geller also recently made the following trade(s):

• On Tuesday, June 17th, Adam Geller sold 3,009 shares of Zscaler stock. The stock was sold at an average price of $303.70, for a total transaction of $913,833.30.

Zscaler Stock Performance

Shares of Zscaler stock opened at $305.41 on Thursday. The business has a 50-day simple moving average of $247.98 and a 200-day simple moving average of $214.79. Zscaler, Inc. has a one year low of $153.45 and a one year high of $309.19. The company has a market cap of $47.55 billion, a PE ratio of -1,174.65 and a beta of 1.09.

Zscaler (NASDAQ:ZS) last issued its quarterly 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 net margin of 1.52% and a negative return on equity of 0.59%. The company had revenue of $678.03 million during the quarter, compared to the consensus estimate of $667.13 million. During the same quarter in the previous year, the firm earned $0.88 earnings per share. The firm’s quarterly revenue was up 22.6% on a year-over-year basis. On average, sell-side analysts predict that Zscaler, Inc. will post -0.1 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Zscaler

A number of institutional investors and hedge funds have recently modified their holdings of the company. LaFleur & Godfrey LLC lifted its holdings in Zscaler by 0.6% during the 4th quarter. LaFleur & Godfrey LLC now owns 61,985 shares of the company’s stock worth $11,183,000 after buying an additional 399 shares during the last quarter. Yousif Capital Management LLC acquired a new position in Zscaler in the fourth quarter valued at approximately $214,000. Van ECK Associates Corp increased its stake in Zscaler by 92.7% in the fourth quarter. Van ECK Associates Corp now owns 29,051 shares of the company’s stock valued at $5,241,000 after purchasing an additional 13,978 shares during the last quarter. Rhumbline Advisers lifted its position in shares of Zscaler by 0.5% during the 4th quarter. Rhumbline Advisers now owns 128,579 shares of the company’s stock worth $23,197,000 after buying an additional 629 shares during the last quarter. Finally, J.W. Cole Advisors Inc. boosted its holdings in shares of Zscaler by 12.3% in the 4th quarter. J.W. Cole Advisors Inc. now owns 2,700 shares of the company’s stock valued at $487,000 after buying an additional 295 shares in the last quarter. Institutional investors and hedge funds own 46.45% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Truist Financial reaffirmed a “buy” rating and set a $300.00 target price (up previously from $260.00) on shares of Zscaler in a report on Friday, May 30th. Citigroup restated a “buy” rating and set a $240.00 price objective (up from $235.00) on shares of Zscaler in a research note on Wednesday, March 5th. Roth Capital reaffirmed a “neutral” rating on shares of Zscaler in a report on Wednesday, May 28th. BMO Capital Markets raised their target price on shares of Zscaler from $233.00 to $295.00 and gave the stock an “outperform” rating in a report on Friday, May 30th. Finally, Loop Capital boosted their target price on shares of Zscaler from $250.00 to $260.00 and gave the company a “hold” rating in a research report on Friday, May 30th. Eight research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Zscaler currently has a consensus rating of “Moderate Buy” and a consensus price target of $294.03.

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.