Zscaler, Inc. (NASDAQ:ZS) Director Sells $2,060,000.00 in Stock

Zscaler, Inc. (NASDAQ:ZS) Director Andrew William Fraser Brown sold 10,000 shares of the stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $206.00, for a total value of $2,060,000.00. Following the completion of the sale, the director now owns 27,216 shares of the company’s stock, valued at approximately $5,606,496. This represents a 26.87 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Zscaler Price Performance

ZS opened at $174.67 on Friday. The business has a 50 day moving average price of $202.38 and a two-hundred day moving average price of $194.60. The company has a market capitalization of $27.03 billion, a price-to-earnings ratio of -698.68 and a beta of 1.12. Zscaler, Inc. has a 1-year low of $153.45 and a 1-year high of $217.84.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on ZS shares. JPMorgan Chase & Co. upped their target price on Zscaler from $240.00 to $250.00 and gave the stock an “overweight” rating in a research report on Thursday, March 6th. BTIG Research set a $252.00 price objective on shares of Zscaler and gave the company a “buy” rating in a research report on Thursday, March 6th. Needham & Company LLC reiterated a “buy” rating and set a $240.00 price objective on shares of Zscaler in a research note on Wednesday, March 5th. Scotiabank restated a “sector outperform” rating and issued a $242.00 target price (up from $225.00) on shares of Zscaler in a research note on Wednesday, March 5th. Finally, Jefferies Financial Group dropped their price target on shares of Zscaler from $245.00 to $240.00 and set a “buy” rating on the stock in a research note on Monday, March 31st. Eight equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $234.94.

Institutional Trading of Zscaler

Hedge funds and other institutional investors have recently modified their holdings of the company. Geode Capital Management LLC grew its holdings in Zscaler by 2.0% during the fourth quarter. Geode Capital Management LLC now owns 1,658,406 shares of the company’s stock worth $298,710,000 after acquiring an additional 32,545 shares during the period. Pictet Asset Management Holding SA boosted its position in shares of Zscaler by 25.8% during 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. AQR Capital Management LLC grew 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 worth $173,921,000 after purchasing an additional 525,956 shares during the last quarter. Artisan Partners Limited Partnership raised its holdings in shares of Zscaler by 30.9% in the 4th quarter. Artisan Partners Limited Partnership now owns 868,795 shares of the company’s stock worth $156,739,000 after purchasing an additional 204,996 shares in the last quarter. Finally, DnB Asset Management AS lifted its stake in Zscaler by 66.8% during the fourth quarter. DnB Asset Management AS now owns 667,383 shares of the company’s stock valued at $120,403,000 after purchasing an additional 267,162 shares during the last quarter. Institutional investors own 46.45% of the company’s stock.

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.