Insider Selling: Zscaler, Inc. (NASDAQ:ZS) CEO Sells $429,168.25 in Stock

Zscaler, Inc. (NASDAQ:ZS) CEO Jagtar Singh Chaudhry sold 2,155 shares of the firm’s stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $199.15, for a total transaction of $429,168.25. Following the sale, the chief executive officer now directly owns 356,414 shares in the company, valued at approximately $70,979,848.10. The trade was a 0.60 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Zscaler Stock Up 0.8 %

NASDAQ ZS opened at $205.20 on Friday. The company has a fifty day moving average of $199.74 and a two-hundred day moving average of $191.83. The firm has a market capitalization of $31.75 billion, a price-to-earnings ratio of -820.80 and a beta of 0.88. Zscaler, Inc. has a 52 week low of $153.45 and a 52 week high of $217.84.

Analyst Upgrades and Downgrades

ZS has been the topic of a number of recent analyst reports. Needham & Company LLC reaffirmed a “buy” rating and set a $240.00 price target on shares of Zscaler in a report on Wednesday, March 5th. Mizuho raised 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. Wells Fargo & Company raised their price objective on shares of Zscaler from $190.00 to $210.00 and gave the stock an “equal weight” rating in a report on Thursday, March 6th. Royal Bank of Canada raised their price objective on shares of Zscaler from $230.00 to $250.00 and gave the stock an “outperform” rating in a report on Thursday, March 6th. Finally, Canaccord Genuity Group raised 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. Nine investment analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. According to MarketBeat, Zscaler has a consensus rating of “Moderate Buy” and a consensus price target of $232.68.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Global X Japan Co. Ltd. boosted 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 buying an additional 79 shares during the period. Summit Securities Group LLC purchased a new stake in shares of Zscaler during the fourth quarter valued at $27,000. Colonial Trust Co SC purchased a new stake in shares of Zscaler during the fourth quarter valued at $28,000. Stonebridge Financial Group LLC purchased a new stake in shares of Zscaler during the fourth quarter valued at $29,000. Finally, Elequin Capital LP purchased a new stake in shares of Zscaler during the fourth quarter valued at $30,000. 46.45% of the stock is owned by hedge funds and other institutional investors.

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.