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 dated Tuesday, March 18th. The shares were sold at an average price of $199.15, for a total transaction of $741,037.15. Following the sale, the chief financial officer now directly 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 transaction was disclosed in a filing with the SEC, which is accessible through this link.

Zscaler Stock Performance

Zscaler stock opened at $203.55 on Friday. Zscaler, Inc. has a 52 week low of $153.45 and a 52 week high of $217.84. The firm has a market capitalization of $31.49 billion, a PE ratio of -814.20 and a beta of 0.88. The business’s 50-day simple moving average is $199.43 and its 200-day simple moving average is $191.81.

Wall Street Analyst Weigh In

ZS has been the subject of several research analyst reports. Bank of America upgraded shares of Zscaler from a “neutral” rating to a “buy” rating and upped their price target for the company from $215.00 to $240.00 in a research report on Friday, March 7th. Wedbush raised their target price on Zscaler from $230.00 to $240.00 and gave the stock an “outperform” rating in a research report on Thursday, March 6th. Mizuho lifted their price target on Zscaler from $210.00 to $225.00 and gave the company a “neutral” rating in a report on Wednesday, February 12th. KeyCorp increased their price objective on Zscaler from $245.00 to $250.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 3rd. Finally, Piper Sandler lifted their target price on Zscaler from $215.00 to $235.00 and gave the company an “overweight” rating in a research note on Tuesday, December 3rd. Nine equities research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $232.68.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Fred Alger Management LLC raised its position in shares of Zscaler by 1,151.0% during the third quarter. Fred Alger Management LLC now owns 10,371 shares of the company’s stock valued at $1,773,000 after buying an additional 9,542 shares during the last quarter. Nomura Asset Management Co. Ltd. raised its holdings in Zscaler by 11.0% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 380,463 shares of the company’s stock valued at $65,036,000 after acquiring an additional 37,801 shares in the last quarter. Zweig DiMenna Associates LLC lifted its position in shares of Zscaler by 29.8% in the 4th quarter. Zweig DiMenna Associates LLC now owns 77,941 shares of the company’s stock worth $14,061,000 after acquiring an additional 17,900 shares during the period. Baader Bank Aktiengesellschaft grew its holdings in shares of Zscaler by 30.3% during the 4th quarter. Baader Bank Aktiengesellschaft now owns 8,400 shares of the company’s stock worth $1,515,000 after purchasing an additional 1,952 shares in the last quarter. Finally, Benjamin Edwards Inc. bought a new stake in shares of Zscaler during the third quarter valued at approximately $449,000. 46.45% of the stock is currently owned by institutional investors and hedge funds.

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.