Zscaler, Inc. (NASDAQ:ZS) Insider Robert Schlossman 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 dated Tuesday, March 18th. The stock was sold at an average price of $199.15, for a total transaction of $573,153.70. Following the completion of the sale, the insider now directly owns 107,587 shares of the company’s stock, valued at approximately $21,425,951.05. This 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 at this link.

Zscaler Trading Down 0.2 %

Shares of NASDAQ:ZS opened at $203.55 on Friday. The company has a market cap of $31.49 billion, a PE ratio of -814.20 and a beta of 0.88. The company’s 50 day moving average is $199.43 and its two-hundred day moving average is $191.81. Zscaler, Inc. has a 52 week low of $153.45 and a 52 week high of $217.84.

Institutional Investors Weigh In On Zscaler

Large investors have recently modified their holdings of the stock. Global X Japan Co. Ltd. boosted its stake in shares of Zscaler by 127.4% during the 4th quarter. Global X Japan Co. Ltd. now owns 141 shares of the company’s stock worth $25,000 after purchasing an additional 79 shares during the last quarter. Summit Securities Group LLC acquired a new stake in Zscaler during the fourth quarter worth about $27,000. Colonial Trust Co SC purchased a new position in Zscaler in the fourth quarter valued at about $28,000. Stonebridge Financial Group LLC purchased a new position in Zscaler in the 4th quarter worth approximately $29,000. Finally, Elequin Capital LP acquired a new stake in Zscaler during the 4th quarter valued at $30,000. Hedge funds and other institutional investors own 46.45% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. BMO Capital Markets boosted their target price on Zscaler from $222.00 to $233.00 and gave the stock an “outperform” rating in a report on Thursday, March 6th. Scotiabank restated a “sector outperform” rating and issued a $242.00 price objective (up from $225.00) on shares of Zscaler in a research report on Wednesday, March 5th. Mizuho raised their price objective on Zscaler from $210.00 to $225.00 and gave the company a “neutral” rating in a research report on Wednesday, February 12th. Susquehanna boosted their price objective on Zscaler from $210.00 to $225.00 and gave the stock a “positive” rating in a research note on Tuesday, December 3rd. Finally, Rosenblatt Securities upgraded shares of Zscaler from a “neutral” rating to a “buy” rating and upped their target price for the stock from $190.00 to $235.00 in a research note on Thursday, March 6th. Nine investment 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, Zscaler has an average rating of “Moderate Buy” and an average price target of $232.68.

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.