Insider Selling: Zscaler, Inc. (NASDAQ:ZS) CFO Sells 3,721 Shares of Stock

Zscaler, Inc. (NASDAQ:ZS) CFO Remo Canessa sold 3,721 shares of the business’s stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $199.15, for a total transaction of $741,037.15. Following the completion of the transaction, the chief financial officer now owns 213,702 shares of the company’s stock, valued at approximately $42,558,753.30. The trade was a 1.71 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Zscaler Stock Performance

NASDAQ ZS opened at $205.20 on Friday. The firm’s 50 day moving average price is $199.74 and its 200-day moving average price is $191.84. 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 $31.75 billion, a PE ratio of -820.80 and a beta of 0.88.

Hedge Funds Weigh In On Zscaler

Hedge funds and other institutional investors have recently modified their holdings of the business. Fred Alger Management LLC boosted its stake in Zscaler by 1,151.0% in the third quarter. Fred Alger Management LLC now owns 10,371 shares of the company’s stock valued at $1,773,000 after acquiring an additional 9,542 shares in the last quarter. Nomura Asset Management Co. Ltd. lifted its stake in shares of Zscaler by 11.0% during the third quarter. Nomura Asset Management Co. Ltd. now owns 380,463 shares of the company’s stock worth $65,036,000 after buying an additional 37,801 shares during the period. Zweig DiMenna Associates LLC lifted its stake in shares of Zscaler by 29.8% during the fourth quarter. Zweig DiMenna Associates LLC now owns 77,941 shares of the company’s stock worth $14,061,000 after buying an additional 17,900 shares during the period. Baader Bank Aktiengesellschaft raised its holdings in shares of Zscaler by 30.3% during the fourth quarter. Baader Bank Aktiengesellschaft now owns 8,400 shares of the company’s stock worth $1,515,000 after purchasing an additional 1,952 shares during the last quarter. Finally, Benjamin Edwards Inc. purchased a new position in shares of Zscaler during the third quarter worth $449,000. 46.45% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Canaccord Genuity Group boosted their price objective on shares of Zscaler from $220.00 to $230.00 and gave the stock a “buy” rating in a report on Tuesday, December 3rd. Loop Capital cut their price objective on shares of Zscaler from $200.00 to $195.00 and set a “hold” rating for the company in a research report on Tuesday, December 3rd. UBS Group boosted their price objective on shares of Zscaler from $250.00 to $260.00 and gave the company a “buy” rating in a research report on Thursday, March 6th. Royal Bank of Canada upped their target price on shares of Zscaler from $230.00 to $250.00 and gave the stock an “outperform” rating in a report on Thursday, March 6th. Finally, BTIG Research set a $252.00 price objective on shares of Zscaler and gave the company a “buy” rating in a 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, the company has an average rating of “Moderate Buy” and an average target price 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.