Zscaler, Inc. (NASDAQ:ZS) Insider Sells $573,153.70 in Stock

Zscaler, Inc. (NASDAQ:ZS) insider Robert Schlossman sold 2,878 shares of the firm’s stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $199.15, for a total value of $573,153.70. Following the completion of the sale, the insider now owns 107,587 shares in the company, valued at approximately $21,425,951.05. This represents a 2.61 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Zscaler Stock Performance

Shares of Zscaler stock traded down $0.40 during trading on Thursday, reaching $203.55. The company’s stock had a trading volume of 952,117 shares, compared to its average volume of 1,861,264. The business’s fifty day moving average price is $199.11 and its 200-day moving average price is $191.72. The firm has a market cap of $31.49 billion, a price-to-earnings ratio of -814.20 and a beta of 0.88. Zscaler, Inc. has a one year low of $153.45 and a one year high of $217.84.

Wall Street Analysts Forecast Growth

Several research firms recently commented on ZS. Mizuho raised their target price on Zscaler from $210.00 to $225.00 and gave the company a “neutral” rating in a research report on Wednesday, February 12th. Loop Capital lowered their price target on Zscaler from $200.00 to $195.00 and set a “hold” rating on the stock in a research report on Tuesday, December 3rd. BMO Capital Markets lifted their target price on Zscaler from $222.00 to $233.00 and gave the stock an “outperform” rating in a report on Thursday, March 6th. BTIG Research set a $252.00 target price on Zscaler and gave the stock a “buy” rating in a report on Thursday, March 6th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on Zscaler from $200.00 to $225.00 and gave the stock a “buy” rating in a report on Tuesday, December 3rd. Nine investment analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $232.68.

Hedge Funds Weigh In On Zscaler

Large investors have recently added to or reduced their stakes in the company. Global X Japan Co. Ltd. raised its holdings in Zscaler by 127.4% in the 4th quarter. Global X Japan Co. Ltd. now owns 141 shares of the company’s stock valued at $25,000 after acquiring an additional 79 shares in the last quarter. Summit Securities Group LLC acquired a new position in Zscaler in the 4th quarter valued at approximately $27,000. Colonial Trust Co SC acquired a new position in Zscaler in the 4th quarter valued at approximately $28,000. Stonebridge Financial Group LLC acquired a new position in Zscaler in the 4th quarter valued at approximately $29,000. Finally, Elequin Capital LP acquired a new position in Zscaler in the 4th quarter valued at approximately $30,000. Institutional investors and hedge funds own 46.45% of the company’s stock.

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.