Insider Selling: Zscaler, Inc. (NASDAQ:ZS) Insider Sells 2,878 Shares of Stock

Zscaler, Inc. (NASDAQ:ZS) insider Robert Schlossman sold 2,878 shares of the firm’s stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $199.15, for a total transaction of $573,153.70. Following the completion of the transaction, the insider now owns 107,587 shares of the company’s stock, valued at $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 SEC, which is available through this hyperlink.

Zscaler Trading Up 0.8 %

Shares of Zscaler stock opened at $205.20 on Friday. The company’s fifty day simple moving average is $199.74 and its two-hundred day simple moving average is $191.83. The company has a market cap of $31.75 billion, a P/E ratio of -820.80 and a beta of 0.88. Zscaler, Inc. has a 12-month low of $153.45 and a 12-month high of $217.84.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on ZS shares. Rosenblatt Securities upgraded shares of Zscaler from a “neutral” rating to a “buy” rating and lifted their target price for the company from $190.00 to $235.00 in a research report on Thursday, March 6th. Sanford C. Bernstein reiterated an “outperform” rating and set a $244.00 target price on shares of Zscaler in a research report on Thursday, March 6th. KeyCorp lifted their target price on shares of Zscaler from $245.00 to $250.00 and gave the company an “overweight” rating in a research report on Tuesday, December 3rd. Mizuho lifted their target price on shares of Zscaler from $210.00 to $225.00 and gave the company a “neutral” rating in a research report on Wednesday, February 12th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on shares of Zscaler from $200.00 to $225.00 and gave the company a “buy” rating in a research report on Tuesday, December 3rd. Nine research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company’s stock. According to MarketBeat.com, Zscaler has an average rating of “Moderate Buy” and a consensus price target of $232.68.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Global X Japan Co. Ltd. increased its position in Zscaler by 127.4% during the 4th quarter. Global X Japan Co. Ltd. now owns 141 shares of the company’s stock valued at $25,000 after purchasing an additional 79 shares during the period. Summit Securities Group LLC purchased a new position in Zscaler during the 4th quarter valued at $27,000. Colonial Trust Co SC purchased a new position in Zscaler during the 4th quarter valued at $28,000. Stonebridge Financial Group LLC purchased a new stake in shares of Zscaler in the 4th quarter worth about $29,000. Finally, Elequin Capital LP purchased a new stake in shares of Zscaler in the 4th quarter worth about $30,000. 46.45% of the stock is owned by hedge funds and other institutional investors.

Zscaler Company Profile

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.