Zscaler, Inc. (NASDAQ:ZS) CFO Sells $741,037.15 in Stock

Zscaler, Inc. (NASDAQ:ZS) CFO Remo Canessa sold 3,721 shares of Zscaler stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $199.15, for a total value of $741,037.15. Following the completion of the transaction, the chief financial officer now owns 213,702 shares in the company, valued at $42,558,753.30. The trade was a 1.71 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Zscaler Trading Down 0.2 %

NASDAQ:ZS traded down $0.40 during trading hours on Thursday, hitting $203.55. 952,117 shares of the stock traded hands, compared to its average volume of 1,861,264. The firm has a 50 day moving average price of $199.11 and a 200 day moving average price of $191.72. Zscaler, Inc. has a fifty-two week low of $153.45 and a fifty-two 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 Trading of Zscaler

Several large investors have recently added to or reduced their stakes in the company. Corebridge Financial Inc. increased its stake in shares of Zscaler by 0.5% in the fourth quarter. Corebridge Financial Inc. now owns 11,695 shares of the company’s stock worth $2,110,000 after acquiring an additional 54 shares during the last quarter. Erste Asset Management GmbH increased its stake in shares of Zscaler by 0.6% in the fourth quarter. Erste Asset Management GmbH now owns 9,780 shares of the company’s stock worth $1,805,000 after acquiring an additional 56 shares during the last quarter. KRS Capital Management LLC increased its stake in shares of Zscaler by 1.9% in the fourth quarter. KRS Capital Management LLC now owns 3,261 shares of the company’s stock worth $588,000 after acquiring an additional 60 shares during the last quarter. Ironwood Investment Management LLC increased its stake in shares of Zscaler by 1.0% in the fourth quarter. Ironwood Investment Management LLC now owns 6,249 shares of the company’s stock worth $1,127,000 after acquiring an additional 64 shares during the last quarter. Finally, Smartleaf Asset Management LLC increased its stake in shares of Zscaler by 16.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 482 shares of the company’s stock worth $88,000 after acquiring an additional 69 shares during the last quarter. 46.45% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently weighed in on ZS. Sanford C. Bernstein reiterated an “outperform” rating and issued a $244.00 target price on shares of Zscaler in a report on Thursday, March 6th. BMO Capital Markets lifted their target price on Zscaler from $222.00 to $233.00 and gave the stock an “outperform” rating in a research report on Thursday, March 6th. Royal Bank of Canada boosted their price objective on Zscaler from $230.00 to $250.00 and gave the company an “outperform” rating in a report on Thursday, March 6th. Guggenheim reissued a “neutral” rating on shares of Zscaler in a report on Tuesday, December 3rd. Finally, Wells Fargo & Company boosted their price objective on Zscaler from $190.00 to $210.00 and gave the company an “equal weight” rating in a report on Thursday, March 6th. Nine analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price 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.