Insider Selling: Zscaler, Inc. (NASDAQ:ZS) Insider Sells $573,153.70 in Stock

Zscaler, Inc. (NASDAQ:ZS) insider Robert Schlossman sold 2,878 shares of the stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $199.15, for a total transaction of $573,153.70. Following the sale, the insider now owns 107,587 shares of the company’s stock, valued at approximately $21,425,951.05. This trade represents a 2.61 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Zscaler Stock Performance

NASDAQ ZS opened at $205.20 on Friday. Zscaler, Inc. has a 52-week low of $153.45 and a 52-week high of $217.84. The company has a 50-day simple moving average of $199.74 and a 200 day simple moving average of $191.83. The company has a market capitalization of $31.75 billion, a PE ratio of -820.80 and a beta of 0.88.

Hedge Funds Weigh In On Zscaler

Several large investors have recently modified their holdings of ZS. AQR Capital Management LLC increased its stake in shares of Zscaler by 120.1% in the fourth quarter. AQR Capital Management LLC now owns 964,031 shares of the company’s stock worth $173,921,000 after purchasing an additional 525,956 shares in the last quarter. Natixis purchased a new position in shares of Zscaler in the fourth quarter worth about $87,775,000. Greenvale Capital LLP purchased a new position in shares of Zscaler in the fourth quarter worth about $72,164,000. Pictet Asset Management Holding SA boosted its position in shares of Zscaler by 25.8% in the fourth quarter. Pictet Asset Management Holding SA now owns 1,618,176 shares of the company’s stock valued at $291,935,000 after acquiring an additional 332,307 shares during the period. Finally, Champlain Investment Partners LLC boosted its position in shares of Zscaler by 28.2% in the third quarter. Champlain Investment Partners LLC now owns 1,289,350 shares of the company’s stock valued at $220,401,000 after acquiring an additional 283,540 shares during the period. Hedge funds and other institutional investors own 46.45% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on ZS shares. Mizuho increased their price objective on shares of Zscaler from $210.00 to $225.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 12th. UBS Group increased their target price on shares of Zscaler from $250.00 to $260.00 and gave the stock a “buy” rating in a research note on Thursday, March 6th. Citigroup reissued a “buy” rating and set a $240.00 target price (up from $235.00) on shares of Zscaler in a research note on Wednesday, March 5th. Loop Capital cut their target price on shares of Zscaler from $200.00 to $195.00 and set a “hold” rating on the stock in a research note on Tuesday, December 3rd. Finally, BTIG Research set a $252.00 target price on shares of Zscaler and gave the stock a “buy” 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 given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price 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.