Investors Purchase High Volume of Zscaler Call Options (NASDAQ:ZS)

Zscaler, Inc. (NASDAQ:ZS) saw unusually large options trading activity on Tuesday. Stock traders purchased 18,085 call options on the stock. This is an increase of approximately 54% compared to the average daily volume of 11,712 call options.

Zscaler Price Performance

Shares of NASDAQ ZS traded up $6.50 during midday trading on Tuesday, hitting $206.04. The stock had a trading volume of 642,235 shares, compared to its average volume of 2,028,563. Zscaler has a fifty-two week low of $153.45 and a fifty-two week high of $259.61. The company’s 50-day simple moving average is $179.04 and its 200 day simple moving average is $181.76. The firm has a market cap of $31.42 billion, a P/E ratio of -498.84 and a beta of 0.82.

Zscaler (NASDAQ:ZS) last announced its quarterly earnings data on Tuesday, September 3rd. The company reported ($0.05) EPS for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.09. Zscaler had a negative return on equity of 3.46% and a negative net margin of 2.66%. The business had revenue of $592.90 million during the quarter, compared to analysts’ expectations of $567.46 million. During the same period in the previous year, the firm earned ($0.17) earnings per share. The firm’s quarterly revenue was up 30.3% compared to the same quarter last year. Equities analysts expect that Zscaler will post -0.95 EPS for the current fiscal year.

Insider Transactions at Zscaler

In related news, CFO Remo Canessa sold 8,455 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $171.28, for a total transaction of $1,448,172.40. Following the sale, the chief financial officer now directly owns 231,793 shares in the company, valued at approximately $39,701,505.04. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, Director Andrew William Fraser Brown sold 8,000 shares of the stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $174.10, for a total value of $1,392,800.00. Following the completion of the transaction, the director now owns 25,907 shares of the company’s stock, valued at approximately $4,510,408.70. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Remo Canessa sold 8,455 shares of the stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $171.28, for a total value of $1,448,172.40. Following the transaction, the chief financial officer now owns 231,793 shares of the company’s stock, valued at approximately $39,701,505.04. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 30,502 shares of company stock valued at $5,256,651 over the last 90 days. Corporate insiders own 19.20% of the company’s stock.

Institutional Investors Weigh In On Zscaler

Hedge funds have recently modified their holdings of the business. Quest Partners LLC acquired a new position in Zscaler in the 2nd quarter worth $28,000. Asset Dedication LLC raised its holdings in shares of Zscaler by 436.8% in the second quarter. Asset Dedication LLC now owns 204 shares of the company’s stock valued at $39,000 after purchasing an additional 166 shares during the last quarter. American Capital Advisory LLC bought a new stake in shares of Zscaler in the second quarter worth $50,000. GAMMA Investing LLC boosted its holdings in Zscaler by 21.3% during the second quarter. GAMMA Investing LLC now owns 382 shares of the company’s stock worth $73,000 after purchasing an additional 67 shares during the last quarter. Finally, Quarry LP grew its holdings in shares of Zscaler by 613.0% in the 2nd quarter. Quarry LP now owns 385 shares of the company’s stock valued at $74,000 after acquiring an additional 331 shares in the last quarter. Institutional investors and hedge funds own 46.45% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on ZS shares. Piper Sandler lowered their price objective on shares of Zscaler from $255.00 to $215.00 and set an “overweight” rating for the company in a research report on Wednesday, September 4th. Morgan Stanley boosted their price target on shares of Zscaler from $202.00 to $215.00 and gave the company an “equal weight” rating in a report on Monday, August 26th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $230.00 price objective on shares of Zscaler in a report on Wednesday, September 4th. JMP Securities reissued a “market outperform” rating and issued a $270.00 price objective on shares of Zscaler in a report on Monday, November 4th. Finally, UBS Group cut their price objective on shares of Zscaler from $270.00 to $250.00 and set a “buy” rating on the stock in a research note on Wednesday, September 4th. Ten analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $216.73.

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.