Zscaler, Inc. (NASDAQ:ZS) CFO Remo Canessa Sells 3,721 Shares

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

Zscaler Stock Down 0.2 %

ZS traded down $0.40 during midday trading on Thursday, reaching $203.55. 952,117 shares of the company’s stock were exchanged, compared to its average volume of 1,861,264. The firm has a market capitalization of $31.49 billion, a price-to-earnings ratio of -814.20 and a beta of 0.88. Zscaler, Inc. has a one year low of $153.45 and a one year high of $217.84. The business has a 50-day simple moving average of $199.11 and a two-hundred day simple moving average of $191.72.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Global X Japan Co. Ltd. lifted its stake in Zscaler by 127.4% during the fourth quarter. Global X Japan Co. Ltd. now owns 141 shares of the company’s stock worth $25,000 after purchasing an additional 79 shares during the period. Summit Securities Group LLC bought a new position in Zscaler during the fourth quarter worth about $27,000. Colonial Trust Co SC bought a new position in Zscaler during the fourth quarter worth about $28,000. Stonebridge Financial Group LLC bought a new position in shares of Zscaler in the fourth quarter valued at approximately $29,000. Finally, Elequin Capital LP bought a new position in shares of Zscaler in the fourth quarter valued at approximately $30,000. Institutional investors own 46.45% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Mizuho upped their price objective on shares of Zscaler from $210.00 to $225.00 and gave the stock a “neutral” rating in a report on Wednesday, February 12th. Piper Sandler upped their price objective on shares of Zscaler from $215.00 to $235.00 and gave the stock an “overweight” rating in a report on Tuesday, December 3rd. Wedbush upped their price objective on shares of Zscaler from $230.00 to $240.00 and gave the stock an “outperform” rating in a report on Thursday, March 6th. Canaccord Genuity Group upped their price objective on shares of Zscaler from $220.00 to $230.00 and gave the stock a “buy” rating in a report on Tuesday, December 3rd. Finally, Rosenblatt Securities upgraded shares of Zscaler from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $190.00 to $235.00 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 data from MarketBeat.com, the stock presently has a consensus 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.