Zscaler, Inc. (NASDAQ:ZS – Get Free Report) was the recipient of some unusual options trading activity on Wednesday. Traders bought 42,865 call options on the company. This represents an increase of approximately 88% compared to the typical daily volume of 22,806 call options.
Insider Activity
In other news, insider Robert Schlossman sold 2,496 shares of the stock in a transaction that occurred on Tuesday, June 6th. The shares were sold at an average price of $150.00, for a total transaction of $374,400.00. Following the sale, the insider now owns 142,899 shares in the company, valued at $21,434,850. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, insider Robert Schlossman sold 2,496 shares of the stock in a transaction that occurred on Tuesday, June 6th. The shares were sold at an average price of $150.00, for a total transaction of $374,400.00. Following the transaction, the insider now owns 142,899 shares in the company, valued at $21,434,850. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Remo Canessa sold 12,500 shares of the stock in a transaction that occurred on Monday, July 10th. The shares were sold at an average price of $145.53, for a total transaction of $1,819,125.00. Following the transaction, the chief financial officer now owns 297,565 shares in the company, valued at approximately $43,304,634.45. The disclosure for this sale can be found here. Insiders have sold a total of 67,611 shares of company stock worth $10,063,461 over the last 90 days. 19.80% of the stock is currently owned by insiders.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently modified their holdings of the company. Artisan Partners Limited Partnership grew its position in Zscaler by 156.0% during the 4th quarter. Artisan Partners Limited Partnership now owns 4,774,237 shares of the company’s stock worth $534,237,000 after purchasing an additional 2,909,057 shares during the last quarter. WestBridge Capital Management LLC purchased a new stake in Zscaler during the 1st quarter worth approximately $233,242,000. Renaissance Technologies LLC purchased a new stake in Zscaler during the 1st quarter worth approximately $168,365,000. Norges Bank purchased a new stake in Zscaler during the 4th quarter worth approximately $59,634,000. Finally, Nomura Asset Management Co. Ltd. grew its position in Zscaler by 948.1% during the 1st quarter. Nomura Asset Management Co. Ltd. now owns 373,010 shares of the company’s stock worth $43,579,000 after purchasing an additional 337,422 shares during the last quarter. Hedge funds and other institutional investors own 45.19% of the company’s stock.
Zscaler Trading Down 6.6 %
Zscaler (NASDAQ:ZS – Get Free Report) last issued its quarterly earnings data on Thursday, June 1st. The company reported $0.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.42 by $0.06. Zscaler had a negative net margin of 18.20% and a negative return on equity of 39.82%. The firm had revenue of $418.80 million for the quarter, compared to the consensus estimate of $411.55 million. During the same quarter in the previous year, the firm earned ($0.61) EPS. The company’s quarterly revenue was up 46.0% compared to the same quarter last year. Equities analysts anticipate that Zscaler will post -1.14 EPS for the current fiscal year.
Analyst Ratings Changes
Several research firms have weighed in on ZS. UBS Group increased their price target on shares of Zscaler from $170.00 to $175.00 in a research report on Friday, June 2nd. Evercore ISI increased their price target on shares of Zscaler from $165.00 to $170.00 in a research report on Friday, June 2nd. Cantor Fitzgerald increased their price target on shares of Zscaler from $140.00 to $145.00 in a research report on Friday, June 2nd. Oppenheimer assumed coverage on shares of Zscaler in a research report on Wednesday, June 7th. They issued an “outperform” rating and a $180.00 price target on the stock. Finally, 888 restated a “maintains” rating on shares of Zscaler in a research report on Tuesday, May 9th. Fourteen investment analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $171.38.
Zscaler Company Profile
Zscaler, Inc operates as a cloud security company worldwide. It 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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