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 the business’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $200.69, for a total value of $38,227,431.20. Following the transaction, the insider now directly owns 2,580,210 shares in the company, valued at $517,822,344.90. This trade represents a 6.87 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Major shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Zscaler Price Performance

Shares of ZS opened at $203.95 on Thursday. The company has a market cap of $31.56 billion, a P/E ratio of -815.80 and a beta of 0.88. The stock has a fifty day moving average price of $199.11 and a 200 day moving average price of $191.72. Zscaler, Inc. has a 12 month low of $153.45 and a 12 month high of $217.84.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in ZS. Geode Capital Management LLC grew its stake in shares of Zscaler by 2.0% in the fourth quarter. Geode Capital Management LLC now owns 1,658,406 shares of the company’s stock worth $298,710,000 after purchasing an additional 32,545 shares in the last quarter. Pictet Asset Management Holding SA grew its stake in shares of Zscaler by 25.8% in the fourth 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 in the last quarter. Champlain Investment Partners LLC grew its stake in shares of Zscaler by 28.2% in the third quarter. Champlain Investment Partners LLC now owns 1,289,350 shares of the company’s stock worth $220,401,000 after purchasing an additional 283,540 shares in the last quarter. AQR Capital Management LLC grew its stake in shares of Zscaler by 120.1% in the fourth quarter. AQR Capital Management LLC now owns 964,031 shares of the company’s stock worth $173,921,000 after purchasing an additional 525,956 shares in the last quarter. Finally, Artisan Partners Limited Partnership grew its stake in shares of Zscaler by 30.9% in the fourth quarter. Artisan Partners Limited Partnership now owns 868,795 shares of the company’s stock worth $156,739,000 after purchasing an additional 204,996 shares in the last quarter. 46.45% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Deutsche Bank Aktiengesellschaft boosted their price target on Zscaler from $200.00 to $225.00 and gave the stock a “buy” rating in a research report on Tuesday, December 3rd. BTIG Research set a $252.00 price target on Zscaler and gave the stock a “buy” rating in a research report on Thursday, March 6th. Morgan Stanley assumed coverage on Zscaler in a research report on Tuesday. They set an “equal weight” rating on the stock. Guggenheim reissued a “neutral” rating on shares of Zscaler in a research report on Tuesday, December 3rd. Finally, The Goldman Sachs Group set a $207.00 price target on Zscaler and gave the stock a “neutral” rating in a research report on Thursday, March 6th. Nine equities research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus 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.