Zscaler (NASDAQ:ZS) Trading Down 1.8%

Zscaler, Inc. (NASDAQ:ZS) traded down 1.8% during trading on Monday . The company traded as low as $195.46 and last traded at $198.09. 633,813 shares were traded during mid-day trading, a decline of 72% from the average session volume of 2,239,914 shares. The stock had previously closed at $201.65.

Wall Street Analysts Forecast Growth

ZS has been the subject of a number of recent research reports. Macquarie reissued an “outperform” rating and set a $245.00 price target on shares of Zscaler in a research report on Tuesday, March 19th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $208.00 price target on shares of Zscaler in a report on Friday, June 14th. Citigroup reduced their price objective on Zscaler from $270.00 to $240.00 and set a “buy” rating for the company in a research note on Wednesday, June 5th. Stifel Nicolaus lowered their target price on Zscaler from $270.00 to $220.00 and set a “buy” rating on the stock in a research note on Thursday, May 16th. Finally, Oppenheimer reiterated an “outperform” rating and set a $260.00 price target (down from $290.00) on shares of Zscaler in a research report on Friday, May 31st. Six equities research analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $225.21.

Zscaler Stock Up 0.0 %

The stock has a market capitalization of $29.83 billion, a price-to-earnings ratio of -378.82 and a beta of 0.85. The business has a 50-day moving average of $180.16 and a 200-day moving average of $201.54. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.75 and a current ratio of 1.75.

Zscaler (NASDAQ:ZS) last announced its earnings results on Thursday, May 30th. The company reported $0.15 earnings per share for the quarter, topping the consensus estimate of ($0.24) by $0.39. The company had revenue of $553.20 million during the quarter, compared to analyst estimates of $535.55 million. Zscaler had a negative net margin of 3.62% and a negative return on equity of 5.84%. On average, sell-side analysts expect that Zscaler, Inc. will post -0.34 EPS for the current year.

Insider Buying and Selling at Zscaler

In related news, CFO Remo Canessa sold 4,689 shares of the stock in a transaction dated Tuesday, June 18th. The stock was sold at an average price of $180.93, for a total transaction of $848,380.77. Following the transaction, the chief financial officer now owns 251,467 shares of the company’s stock, valued at approximately $45,497,924.31. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 19.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Zscaler

Several large investors have recently added to or reduced their stakes in ZS. Linden Thomas Advisory Services LLC grew its stake in Zscaler by 3.2% during the 2nd quarter. Linden Thomas Advisory Services LLC now owns 7,058 shares of the company’s stock worth $1,356,000 after purchasing an additional 221 shares in the last quarter. Gulf International Bank UK Ltd grew its position in shares of Zscaler by 0.7% during the second quarter. Gulf International Bank UK Ltd now owns 13,438 shares of the company’s stock worth $2,582,000 after buying an additional 100 shares in the last quarter. CWM LLC increased its stake in shares of Zscaler by 45.9% during the second quarter. CWM LLC now owns 2,683 shares of the company’s stock worth $516,000 after buying an additional 844 shares during the period. Harbor Capital Advisors Inc. raised its holdings in Zscaler by 17.1% in the second quarter. Harbor Capital Advisors Inc. now owns 2,718 shares of the company’s stock valued at $522,000 after acquiring an additional 396 shares in the last quarter. Finally, Mather Group LLC. lifted its stake in Zscaler by 22.9% in the second quarter. Mather Group LLC. now owns 704 shares of the company’s stock worth $136,000 after acquiring an additional 131 shares during the last quarter. 46.45% of the stock is owned by hedge funds and other institutional investors.

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.