Zscaler, Inc. (NASDAQ:ZS) Major Shareholder Ajay Mangal Sells 190,480 Shares

Zscaler, Inc. (NASDAQ:ZS) major shareholder Ajay Mangal sold 190,480 shares of the stock in a transaction that occurred 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 transaction, the insider now owns 2,580,210 shares in the company, valued at $517,822,344.90. This represents a 6.87 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Zscaler Price Performance

ZS opened at $203.95 on Thursday. The stock has a market capitalization of $31.56 billion, a price-to-earnings ratio of -815.80 and a beta of 0.88. The business has a 50-day moving average of $199.11 and a two-hundred day moving average of $191.72. Zscaler, Inc. has a 12 month low of $153.45 and a 12 month high of $217.84.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Mizuho increased their price target on shares of Zscaler from $210.00 to $225.00 and gave the company a “neutral” rating in a research note on Wednesday, February 12th. Citigroup reaffirmed a “buy” rating and set a $240.00 price target (up from $235.00) on shares of Zscaler in a report on Wednesday, March 5th. Rosenblatt Securities raised Zscaler from a “neutral” rating to a “buy” rating and raised their target price for the company from $190.00 to $235.00 in a report on Thursday, March 6th. Barclays reissued an “overweight” rating on shares of Zscaler in a report on Wednesday, March 5th. Finally, Oppenheimer lifted their price target on Zscaler from $230.00 to $250.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 3rd. Nine analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company’s stock. According to data from MarketBeat, Zscaler currently has an average rating of “Moderate Buy” and a consensus price target of $232.68.

Institutional Trading of Zscaler

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. AQR Capital Management LLC lifted its stake in shares of Zscaler by 120.1% in the 4th quarter. AQR Capital Management LLC now owns 964,031 shares of the company’s stock valued at $173,921,000 after purchasing an additional 525,956 shares in the last quarter. Natixis acquired a new position in shares of Zscaler in the 4th quarter valued at about $87,775,000. Greenvale Capital LLP acquired a new position in shares of Zscaler in the 4th quarter valued at about $72,164,000. Pictet Asset Management Holding SA lifted its stake in shares of Zscaler by 25.8% in the 4th quarter. Pictet Asset Management Holding SA now owns 1,618,176 shares of the company’s stock valued at $291,935,000 after purchasing an additional 332,307 shares in the last quarter. Finally, Champlain Investment Partners LLC lifted its stake in shares of Zscaler by 28.2% in the 3rd quarter. Champlain Investment Partners LLC now owns 1,289,350 shares of the company’s stock valued at $220,401,000 after purchasing an additional 283,540 shares in the last quarter. Hedge funds and other institutional investors own 46.45% of the company’s stock.

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.