Robert Schlossman Sells 2,878 Shares of Zscaler, Inc. (NASDAQ:ZS) Stock

Zscaler, Inc. (NASDAQ:ZS) insider Robert Schlossman sold 2,878 shares of the business’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 value of $573,153.70. Following the completion of the transaction, the insider now owns 107,587 shares in the company, valued at $21,425,951.05. The trade was a 2.61 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Zscaler Price Performance

Shares of ZS stock opened at $205.20 on Friday. The company has a market capitalization of $31.75 billion, a P/E ratio of -820.80 and a beta of 0.88. The company’s 50-day simple moving average is $199.74 and its two-hundred day simple moving average is $191.84. Zscaler, Inc. has a one year low of $153.45 and a one year high of $217.84.

Institutional Investors Weigh In On Zscaler

Hedge funds have recently modified their holdings of the business. Fred Alger Management LLC lifted its position in shares of Zscaler by 1,151.0% in the 3rd quarter. Fred Alger Management LLC now owns 10,371 shares of the company’s stock worth $1,773,000 after purchasing an additional 9,542 shares during the period. Nomura Asset Management Co. Ltd. lifted its position in shares of Zscaler by 11.0% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 380,463 shares of the company’s stock worth $65,036,000 after purchasing an additional 37,801 shares during the period. Zweig DiMenna Associates LLC lifted its position in shares of Zscaler by 29.8% in the 4th quarter. Zweig DiMenna Associates LLC now owns 77,941 shares of the company’s stock worth $14,061,000 after purchasing an additional 17,900 shares during the period. Baader Bank Aktiengesellschaft lifted its position in shares of Zscaler by 30.3% in the 4th quarter. Baader Bank Aktiengesellschaft now owns 8,400 shares of the company’s stock worth $1,515,000 after purchasing an additional 1,952 shares during the period. Finally, Benjamin Edwards Inc. purchased a new stake in shares of Zscaler in the 3rd quarter worth approximately $449,000. Hedge funds and other institutional investors own 46.45% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on ZS shares. Morgan Stanley started coverage on shares of Zscaler in a report on Tuesday. They issued an “equal weight” rating on the stock. Guggenheim reaffirmed a “neutral” rating on shares of Zscaler in a report on Tuesday, December 3rd. Loop Capital lowered their target price on shares of Zscaler from $200.00 to $195.00 and set a “hold” rating on the stock in a report on Tuesday, December 3rd. Jefferies Financial Group boosted their target price on shares of Zscaler from $225.00 to $245.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Finally, The Goldman Sachs Group set a $207.00 target price on shares of Zscaler and gave the company a “neutral” rating in a report on Thursday, March 6th. Nine investment analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. Based on data from MarketBeat.com, Zscaler currently has an average rating of “Moderate Buy” and a consensus price target of $232.68.

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.