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 that occurred on Tuesday, March 18th. The shares were sold at an average price of $199.15, for a total value of $741,037.15. Following the completion of the transaction, the chief financial officer now owns 213,702 shares in the company, valued at $42,558,753.30. This represents a 1.71 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Zscaler Price Performance

NASDAQ:ZS opened at $205.20 on Friday. The business’s fifty day moving average price is $199.74 and its 200 day moving average price is $191.83. The firm has a market capitalization of $31.75 billion, a PE 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.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Wedbush upped their price objective on Zscaler from $230.00 to $240.00 and gave the company an “outperform” rating in a report on Thursday, March 6th. Scotiabank reiterated a “sector outperform” rating and issued a $242.00 price objective (up from $225.00) on shares of Zscaler in a report on Wednesday, March 5th. Wells Fargo & Company upped their price target on Zscaler from $190.00 to $210.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 6th. Deutsche Bank Aktiengesellschaft upped their price target on Zscaler from $200.00 to $225.00 and gave the stock a “buy” rating in a research note on Tuesday, December 3rd. Finally, Oppenheimer upped their price target on Zscaler from $230.00 to $250.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 3rd. Nine investment analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $232.68.

Hedge Funds Weigh In On Zscaler

Hedge funds have recently made changes to their positions in the company. Global X Japan Co. Ltd. grew its holdings in shares of Zscaler by 127.4% during the fourth 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 purchased a new position in shares of Zscaler during the fourth quarter worth about $27,000. Colonial Trust Co SC purchased a new position in shares of Zscaler during the fourth quarter worth about $28,000. Stonebridge Financial Group LLC purchased a new position in shares of Zscaler during the fourth quarter worth about $29,000. Finally, Elequin Capital LP purchased a new position in shares of Zscaler during the fourth quarter worth about $30,000. Hedge funds and other 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.