Zscaler, Inc. (NASDAQ:ZS) Major Shareholder Ajay Mangal Sells 190,480 Shares

Zscaler, Inc. (NASDAQ:ZS) major shareholder Ajay Mangal sold 190,480 shares of Zscaler stock in a transaction on Monday, March 17th. The stock was sold at an average price of $200.69, for a total transaction of $38,227,431.20. Following the completion of the sale, the insider now owns 2,580,210 shares of the company’s stock, valued at approximately $517,822,344.90. This trade represents a 6.87 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Zscaler Trading Up 1.2 %

Shares of NASDAQ:ZS traded up $2.36 during trading on Wednesday, hitting $203.95. 1,924,510 shares of the company’s stock traded hands, compared to its average volume of 1,867,538. Zscaler, Inc. has a 52 week low of $153.45 and a 52 week high of $217.84. The company has a market cap of $31.56 billion, a price-to-earnings ratio of -815.80 and a beta of 0.88. The company has a 50-day moving average price of $198.77 and a 200-day moving average price of $191.64.

Analysts Set New Price Targets

ZS has been the subject of several analyst reports. Citigroup reissued a “buy” rating and set a $240.00 price target (up previously from $235.00) on shares of Zscaler in a report on Wednesday, March 5th. Scotiabank restated a “sector outperform” rating and set a $242.00 price objective (up from $225.00) on shares of Zscaler in a research note on Wednesday, March 5th. JPMorgan Chase & Co. lifted their price objective on shares of Zscaler from $240.00 to $250.00 and gave the company an “overweight” rating in a research note on Thursday, March 6th. Royal Bank of Canada lifted their price objective on shares of Zscaler from $230.00 to $250.00 and gave the company an “outperform” rating in a research note on Thursday, March 6th. Finally, UBS Group lifted their price objective on shares of Zscaler from $250.00 to $260.00 and gave the company a “buy” rating in a research note on Thursday, March 6th. Nine investment analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $233.06.

Hedge Funds Weigh In On Zscaler

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