Zscaler, Inc. (NASDAQ:ZS) CEO Jagtar Singh Chaudhry Sells 2,155 Shares of Stock

Zscaler, Inc. (NASDAQ:ZS) CEO Jagtar Singh Chaudhry sold 2,155 shares of the company’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 value of $429,168.25. Following the sale, the chief executive officer now owns 356,414 shares of the company’s stock, valued at $70,979,848.10. This trade represents a 0.60 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Zscaler Trading Down 0.2 %

ZS stock opened at $203.55 on Friday. The firm has a market cap of $31.49 billion, a PE ratio of -814.20 and a beta of 0.88. The business’s 50-day moving average price is $199.43 and its two-hundred day moving average price is $191.81. Zscaler, Inc. has a 1-year low of $153.45 and a 1-year high of $217.84.

Analysts Set New Price Targets

Several analysts have weighed in on ZS shares. Rosenblatt Securities raised Zscaler from a “neutral” rating to a “buy” rating and upped their target price for the company from $190.00 to $235.00 in a report on Thursday, March 6th. Sanford C. Bernstein restated an “outperform” rating and issued a $244.00 price target on shares of Zscaler in a report on Thursday, March 6th. Royal Bank of Canada lifted their price objective on Zscaler from $230.00 to $250.00 and gave the company an “outperform” rating in a research note on Thursday, March 6th. The Goldman Sachs Group set a $207.00 price objective on Zscaler and gave the company a “neutral” rating in a research note on Thursday, March 6th. Finally, Oppenheimer boosted their price target on Zscaler from $230.00 to $250.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 3rd. 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 data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $232.68.

Institutional Trading of Zscaler

A number of institutional investors have recently modified their holdings of the company. Global X Japan Co. Ltd. increased its position in shares of Zscaler by 127.4% in the fourth quarter. Global X Japan Co. Ltd. now owns 141 shares of the company’s stock valued at $25,000 after acquiring an additional 79 shares during the last quarter. Summit Securities Group LLC bought a new stake in shares of Zscaler during the fourth quarter worth approximately $27,000. Colonial Trust Co SC bought a new stake in shares of Zscaler during the fourth quarter worth approximately $28,000. Stonebridge Financial Group LLC bought a new stake in shares of Zscaler in the fourth quarter valued at approximately $29,000. Finally, Elequin Capital LP bought a new stake in shares of Zscaler in the fourth quarter valued at approximately $30,000. 46.45% of the stock is currently owned by institutional investors.

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.