Zscaler, Inc. (NASDAQ:ZS) Insider Sells $7,236,750.00 in Stock

Zscaler, Inc. (NASDAQ:ZS) insider Syam Nair sold 28,947 shares of the stock in a transaction on Friday, May 16th. The stock was sold at an average price of $250.00, for a total value of $7,236,750.00. Following the completion of the sale, the insider now owns 110,566 shares of the company’s stock, valued at $27,641,500. The trade was a 20.75% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Zscaler Price Performance

Shares of NASDAQ:ZS traded up $1.07 during trading hours on Monday, hitting $252.57. 2,046,840 shares of the company’s stock traded hands, compared to its average volume of 2,044,854. Zscaler, Inc. has a 1 year low of $153.45 and a 1 year high of $253.75. The business has a fifty day moving average price of $211.27 and a 200-day moving average price of $202.72. The firm has a market capitalization of $39.08 billion, a P/E ratio of -1,010.28 and a beta of 1.14.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on ZS shares. BNP Paribas upgraded Zscaler from a “neutral” rating to an “outperform” rating and set a $260.00 price objective for the company in a research report on Monday, April 28th. JPMorgan Chase & Co. raised their price objective on Zscaler from $240.00 to $250.00 and gave the company an “overweight” rating in a research report on Thursday, March 6th. Scotiabank restated a “sector outperform” rating and set a $242.00 price objective (up previously from $225.00) on shares of Zscaler in a research report on Wednesday, March 5th. UBS Group raised their price objective on Zscaler from $250.00 to $260.00 and gave the company a “buy” rating in a research report on Thursday, March 6th. Finally, Mizuho raised their price objective on Zscaler from $220.00 to $250.00 and gave the company a “neutral” rating in a research report on Thursday. Eight analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Zscaler has an average rating of “Moderate Buy” and a consensus target price of $238.53.

Institutional Trading of Zscaler

A number of large investors have recently modified their holdings of the company. Bayforest Capital Ltd purchased a new stake in shares of Zscaler in the first quarter valued at approximately $34,000. Alaethes Wealth LLC boosted its holdings in shares of Zscaler by 8.5% in the first quarter. Alaethes Wealth LLC now owns 8,598 shares of the company’s stock valued at $1,706,000 after purchasing an additional 670 shares during the period. Woodline Partners LP purchased a new stake in shares of Zscaler in the first quarter valued at approximately $70,340,000. Zurich Insurance Group Ltd FI purchased a new stake in shares of Zscaler in the first quarter valued at approximately $24,983,000. Finally, Empowered Funds LLC boosted its holdings in shares of Zscaler by 9.2% in the first quarter. Empowered Funds LLC now owns 2,811 shares of the company’s stock valued at $558,000 after purchasing an additional 238 shares during the period. 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.