Zscaler, Inc. (NASDAQ:ZS) Director Andrew William Fraser Brown Sells 10,000 Shares

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

Zscaler Stock Down 9.1 %

NASDAQ:ZS opened at $174.67 on Friday. The company’s 50 day moving average is $202.38 and its 200-day moving average is $194.60. The firm has a market cap of $27.03 billion, a price-to-earnings ratio of -698.68 and a beta of 1.12. Zscaler, Inc. has a 12 month low of $153.45 and a 12 month high of $217.84.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Morgan Stanley started coverage on shares of Zscaler in a research report on Tuesday, March 18th. They issued an “equal weight” rating on the stock. BMO Capital Markets boosted their target price on shares of Zscaler from $222.00 to $233.00 and gave the company an “outperform” rating in a research note on Thursday, March 6th. The Goldman Sachs Group set a $207.00 target price on Zscaler and gave the stock a “neutral” rating in a research report on Thursday, March 6th. Barclays reiterated an “overweight” rating on shares of Zscaler in a report on Wednesday, March 5th. Finally, JPMorgan Chase & Co. raised their price objective on Zscaler from $240.00 to $250.00 and gave the stock an “overweight” rating in a research report on Thursday, March 6th. Eight analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $234.94.

Institutional Investors Weigh In On Zscaler

Hedge funds have recently bought and sold shares of the company. AQR Capital Management LLC lifted its holdings in shares of Zscaler by 120.1% during the fourth quarter. AQR Capital Management LLC now owns 964,031 shares of the company’s stock worth $173,921,000 after buying an additional 525,956 shares during the last quarter. Natixis acquired a new position in Zscaler during the 4th quarter valued at $87,775,000. Greenvale Capital LLP bought a new stake in Zscaler in the 4th quarter valued at $72,164,000. Pictet Asset Management Holding SA grew its position in Zscaler by 25.8% in the 4th quarter. Pictet Asset Management Holding SA now owns 1,618,176 shares of the company’s stock worth $291,935,000 after purchasing an additional 332,307 shares during the last quarter. Finally, DnB Asset Management AS increased its holdings in shares of Zscaler by 66.8% during the 4th quarter. DnB Asset Management AS now owns 667,383 shares of the company’s stock worth $120,403,000 after purchasing an additional 267,162 shares during the period. 46.45% of the stock is currently owned by 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.