Zscaler Inc (NASDAQ:ZS) fell 16.4% during mid-day trading on Friday . The stock traded as low as $52.26 and last traded at $54.51, 13,201,175 shares traded hands during mid-day trading. An increase of 435% from the average session volume of 2,467,512 shares. The stock had previously closed at $65.18.
Several brokerages have issued reports on ZS. Morgan Stanley reaffirmed a “sell” rating and issued a $40.00 price target on shares of Zscaler in a report on Thursday, December 5th. Barclays reaffirmed a “hold” rating and issued a $64.00 price target on shares of Zscaler in a report on Thursday. Cowen reaffirmed a “buy” rating and issued a $70.00 price target on shares of Zscaler in a report on Wednesday, December 4th. BidaskClub raised shares of Zscaler from a “buy” rating to a “strong-buy” rating in a report on Friday. Finally, Rosenblatt Securities reaffirmed a “hold” rating and issued a $58.00 price target (up previously from $50.00) on shares of Zscaler in a report on Friday. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $64.84.
The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.08. The company has a market cap of $8.34 billion, a PE ratio of -181.70 and a beta of 1.07. The stock’s 50 day simple moving average is $57.72 and its two-hundred day simple moving average is $54.78.
In other Zscaler news, insider Amit Sinha sold 887 shares of the firm’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $47.00, for a total transaction of $41,689.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Robert Schlossman sold 2,000 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $50.00, for a total transaction of $100,000.00. Following the transaction, the insider now directly owns 94,966 shares of the company’s stock, valued at $4,748,300. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 231,187 shares of company stock valued at $13,532,524. Company insiders own 23.80% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the business. Amundi Pioneer Asset Management Inc. bought a new position in shares of Zscaler in the 1st quarter worth about $149,000. Wedbush Securities Inc. bought a new position in shares of Zscaler in the 3rd quarter worth about $273,000. Strs Ohio lifted its position in shares of Zscaler by 75.0% in the 3rd quarter. Strs Ohio now owns 4,206 shares of the company’s stock worth $198,000 after buying an additional 1,802 shares during the last quarter. State of New Jersey Common Pension Fund D bought a new position in shares of Zscaler in the 3rd quarter worth about $2,287,000. Finally, Patriot Financial Group Insurance Agency LLC bought a new position in shares of Zscaler in the 3rd quarter worth about $154,000. 36.87% of the stock is owned by institutional investors.
Zscaler Company Profile (NASDAQ:ZS)
Zscaler, Inc operates as a cloud security company worldwide. The company's flagship services include Zscaler Internet Access solution that connect users to externally managed applications, including software-as-a-service applications and Internet destinations; and Zscaler Private Access solution, which is designed to provide access to internally managed applications, either hosted internally in data centers, and private or public clouds.
Further Reading: Shanghai Stock Exchange Composite Index
Receive News & Ratings for Zscaler Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Zscaler and related companies with MarketBeat.com's FREE daily email newsletter.