Zscaler, Inc. (NASDAQ:ZS) Major Shareholder Sells $38,227,431.20 in Stock

Zscaler, Inc. (NASDAQ:ZS) major shareholder Ajay Mangal sold 190,480 shares of Zscaler stock in a transaction on Monday, March 17th. The shares were sold at an average price of $200.69, for a total transaction of $38,227,431.20. Following the completion of the sale, the insider now directly owns 2,580,210 shares of the company’s stock, valued at approximately $517,822,344.90. This trade represents a 6.87 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Zscaler Stock Up 0.8 %

NASDAQ ZS opened at $205.20 on Friday. The company’s 50 day moving average is $199.74 and its 200-day moving average is $191.84. Zscaler, Inc. has a 12-month low of $153.45 and a 12-month high of $217.84. The firm has a market cap of $31.75 billion, a P/E ratio of -820.80 and a beta of 0.88.

Institutional Trading of Zscaler

Several hedge funds and other institutional investors have recently modified their holdings of ZS. Global X Japan Co. Ltd. lifted its stake in Zscaler by 127.4% in the 4th 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 purchased a new stake in Zscaler in the 4th quarter worth approximately $27,000. Colonial Trust Co SC purchased a new stake in Zscaler in the 4th quarter worth approximately $28,000. Stonebridge Financial Group LLC purchased a new stake in Zscaler in the 4th quarter worth approximately $29,000. Finally, Elequin Capital LP purchased a new stake in Zscaler in the 4th quarter worth approximately $30,000. Institutional investors own 46.45% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on ZS shares. JMP Securities reissued a “market outperform” rating and set a $240.00 target price (down from $270.00) on shares of Zscaler in a research report on Tuesday, December 3rd. UBS Group boosted their target price on shares of Zscaler from $250.00 to $260.00 and gave the stock a “buy” rating in a research report on Thursday, March 6th. JPMorgan Chase & Co. boosted their target price on shares of Zscaler from $240.00 to $250.00 and gave the stock an “overweight” rating in a research report on Thursday, March 6th. Piper Sandler boosted their target price on shares of Zscaler from $215.00 to $235.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 3rd. Finally, Bank of America raised shares of Zscaler from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $215.00 to $240.00 in a research report on Friday, March 7th. 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 company presently has a consensus rating of “Moderate Buy” and an average 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.