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 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 $429,168.25. Following the sale, the chief executive officer now owns 356,414 shares of the company’s stock, valued at $70,979,848.10. The trade was a 0.60 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Zscaler Trading Down 0.2 %

Shares of NASDAQ ZS traded down $0.40 during trading hours on Thursday, reaching $203.55. The stock had a trading volume of 952,117 shares, compared to its average volume of 1,861,264. 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 fifty-two week low of $153.45 and a fifty-two week high of $217.84. The firm has a 50-day moving average of $199.11 and a 200-day moving average of $191.72.

Wall Street Analysts Forecast Growth

Several analysts recently commented on ZS shares. Mizuho boosted their price target on Zscaler from $210.00 to $225.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 12th. Robert W. Baird boosted their price objective on Zscaler from $240.00 to $250.00 and gave the stock an “outperform” rating in a research note on Thursday, March 6th. BMO Capital Markets boosted their price objective on Zscaler from $222.00 to $233.00 and gave the stock an “outperform” rating in a research note on Thursday, March 6th. Jefferies Financial Group boosted their price objective on Zscaler from $225.00 to $245.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Finally, JPMorgan Chase & Co. boosted their price objective on Zscaler from $240.00 to $250.00 and gave the stock an “overweight” rating in a research note on Thursday, March 6th. Nine equities research 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, Zscaler has a consensus rating of “Moderate Buy” and an average price target of $232.68.

Institutional Trading of Zscaler

A number of large investors have recently made changes to their positions in ZS. Global X Japan Co. Ltd. boosted its position in shares of 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 purchasing an additional 79 shares during the period. Summit Securities Group LLC acquired a new stake in shares of Zscaler in the 4th quarter valued at approximately $27,000. Colonial Trust Co SC acquired a new stake in shares of Zscaler in the 4th quarter valued at approximately $28,000. Stonebridge Financial Group LLC acquired a new stake in shares of Zscaler in the 4th quarter valued at approximately $29,000. Finally, Elequin Capital LP acquired a new stake in shares of Zscaler in the 4th quarter valued at approximately $30,000. 46.45% of the stock is owned by institutional investors and hedge funds.

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.