Zscaler, Inc. (NASDAQ:ZS) Director Andrew William Fraser Brown Sells 10,000 Shares

Zscaler, Inc. (NASDAQ:ZS) Director Andrew William Fraser Brown sold 10,000 shares of the business’s stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $206.00, for a total transaction of $2,060,000.00. Following the completion of the transaction, the director now owns 27,216 shares in the company, valued at $5,606,496. The trade was a 26.87 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Zscaler Stock Performance

ZS opened at $174.67 on Friday. The business’s 50-day simple moving average is $202.38 and its 200-day simple moving average is $194.43. The stock has a market capitalization of $27.03 billion, a P/E ratio of -698.68 and a beta of 1.12. Zscaler, Inc. has a one year low of $153.45 and a one year high of $217.84.

Institutional Investors Weigh In On Zscaler

Several large investors have recently modified their holdings of the company. AQR Capital Management LLC increased its position in Zscaler by 120.1% in the 4th quarter. AQR Capital Management LLC now owns 964,031 shares of the company’s stock valued at $173,921,000 after acquiring an additional 525,956 shares during the period. Natixis purchased a new position in Zscaler in the 4th quarter valued at $87,775,000. Greenvale Capital LLP purchased a new position in Zscaler during the 4th quarter worth $72,164,000. Pictet Asset Management Holding SA boosted its holdings 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 valued at $291,935,000 after acquiring an additional 332,307 shares in the last quarter. Finally, DnB Asset Management AS raised its holdings in Zscaler by 66.8% during the fourth quarter. DnB Asset Management AS now owns 667,383 shares of the company’s stock worth $120,403,000 after purchasing an additional 267,162 shares in the last quarter. 46.45% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ZS has been the subject of several analyst reports. Needham & Company LLC reiterated a “buy” rating and issued a $240.00 price objective on shares of Zscaler in a research report on Wednesday, March 5th. Morgan Stanley began coverage on shares of Zscaler in a research report on Tuesday, March 18th. They set an “equal weight” rating for the company. Rosenblatt Securities raised Zscaler from a “neutral” rating to a “buy” rating and boosted their target price for the company from $190.00 to $235.00 in a research report on Thursday, March 6th. Citigroup reiterated a “buy” rating and issued a $240.00 price objective (up previously from $235.00) on shares of Zscaler in a report on Wednesday, March 5th. Finally, Bank of America upgraded shares of Zscaler from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $215.00 to $240.00 in a research note on Friday, March 7th. Eight research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $234.94.

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.