Insider Selling: Zscaler, Inc. (NASDAQ:ZS) CEO Sells 2,155 Shares of Stock

Zscaler, Inc. (NASDAQ:ZS) CEO Jagtar Singh Chaudhry sold 2,155 shares of the firm’s stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $199.15, for a total transaction of $429,168.25. Following the sale, the chief executive officer now owns 356,414 shares of the company’s stock, valued at approximately $70,979,848.10. The trade was a 0.60 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Zscaler Stock Down 0.2 %

Shares of ZS opened at $203.55 on Friday. The business’s 50 day moving average is $199.43 and its two-hundred day moving average is $191.81. Zscaler, Inc. has a 52-week low of $153.45 and a 52-week high of $217.84. The firm has a market cap of $31.49 billion, a price-to-earnings ratio of -814.20 and a beta of 0.88.

Institutional Investors Weigh In On Zscaler

A number of institutional investors have recently made changes to their positions in ZS. Global X Japan Co. Ltd. grew its stake in shares of Zscaler by 127.4% in the fourth quarter. Global X Japan Co. Ltd. now owns 141 shares of the company’s stock worth $25,000 after purchasing an additional 79 shares in the last quarter. Summit Securities Group LLC acquired a new stake in shares of Zscaler in the fourth quarter valued at $27,000. Colonial Trust Co SC purchased a new stake in shares of Zscaler during the fourth quarter valued at $28,000. Stonebridge Financial Group LLC purchased a new stake in shares of Zscaler during the fourth quarter valued at $29,000. Finally, Elequin Capital LP purchased a new stake in shares of Zscaler during the fourth quarter valued at $30,000. 46.45% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

ZS has been the subject of a number of research reports. Loop Capital cut their price objective on shares of Zscaler from $200.00 to $195.00 and set a “hold” rating for the company in a research note on Tuesday, December 3rd. Guggenheim reaffirmed a “neutral” rating on shares of Zscaler in a report on Tuesday, December 3rd. Robert W. Baird boosted their price objective on shares of Zscaler from $240.00 to $250.00 and gave the company an “outperform” rating in a report on Thursday, March 6th. Scotiabank restated a “sector outperform” rating and set a $242.00 target price (up from $225.00) on shares of Zscaler in a research report on Wednesday, March 5th. Finally, Mizuho boosted their target price on shares of Zscaler from $210.00 to $225.00 and gave the company a “neutral” rating in a research report on Wednesday, February 12th. Nine investment analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. According to MarketBeat, Zscaler currently has a consensus rating of “Moderate Buy” and a consensus price target of $232.68.

Zscaler Company Profile

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.