Shares of Zscaler Inc (NASDAQ:ZS) traded down 16.4% during trading on Friday . The stock traded as low as $52.26 and last traded at $54.51, 13,201,175 shares were traded during trading. An increase of 435% from the average session volume of 2,467,512 shares. The stock had previously closed at $65.18.

Several analysts recently commented on the stock. Zacks Investment Research upgraded shares of Zscaler from a “sell” rating to a “hold” rating in a report on Saturday, February 8th. SunTrust Banks restated a “buy” rating and set a $73.00 price target on shares of Zscaler in a report on Wednesday, December 4th. DA Davidson restated an “outperform” rating and set a $58.00 price target on shares of Zscaler in a report on Wednesday, December 4th. Rosenblatt Securities restated a “hold” rating and set a $58.00 price target (up from $50.00) on shares of Zscaler in a report on Friday. Finally, BMO Capital Markets raised their price target on shares of Zscaler from $58.00 to $63.00 and gave the stock a “market perform” rating in a report on Friday. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $64.84.

The stock’s 50 day moving average price is $57.72 and its two-hundred day moving average price is $54.78. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.84 and a quick ratio of 1.84. The firm has a market capitalization of $8.34 billion, a price-to-earnings ratio of -181.70 and a beta of 1.07.

Zscaler (NASDAQ:ZS) last issued its quarterly earnings data on Tuesday, December 3rd. The company reported $0.03 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.08) by $0.11. Zscaler had a negative net margin of 11.45% and a negative return on equity of 11.23%. The business had revenue of $93.59 million during the quarter, compared to analysts’ expectations of $89.81 million. During the same period in the previous year, the company earned $0.01 earnings per share. Zscaler’s revenue for the quarter was up 47.9% on a year-over-year basis. As a group, equities research analysts anticipate that Zscaler Inc will post -0.34 EPS for the current fiscal year.

In other news, insider Amit Sinha sold 887 shares of the business’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $47.00, for a total value of $41,689.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Remo Canessa sold 110,000 shares of the business’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $60.00, for a total transaction of $6,600,000.00. Following the completion of the sale, the chief financial officer now owns 417,812 shares of the company’s stock, valued at $25,068,720. The disclosure for this sale can be found here. Insiders sold 231,187 shares of company stock valued at $13,532,524 over the last 90 days. 23.80% of the stock is owned by corporate insiders.

A number of hedge funds have recently made changes to their positions in the stock. Geode Capital Management LLC increased its position in Zscaler by 4.2% during the fourth quarter. Geode Capital Management LLC now owns 740,949 shares of the company’s stock worth $34,454,000 after acquiring an additional 30,171 shares during the period. Equitable Holdings Inc. bought a new position in Zscaler during the fourth quarter worth $498,000. Bamco Inc. NY increased its position in Zscaler by 23.9% during the fourth quarter. Bamco Inc. NY now owns 84,186 shares of the company’s stock worth $3,915,000 after acquiring an additional 16,231 shares during the period. Bullseye Asset Management LLC bought a new position in Zscaler during the fourth quarter worth $1,783,000. Finally, Alliancebernstein L.P. increased its position in Zscaler by 9.8% during the fourth quarter. Alliancebernstein L.P. now owns 33,650 shares of the company’s stock worth $1,565,000 after acquiring an additional 3,000 shares during the period. 36.87% of the stock is currently owned by institutional investors and hedge funds.

About Zscaler (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.

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