Insider Selling: Zscaler, Inc. (NASDAQ:ZS) Director Sells 10,000 Shares of Stock

Zscaler, Inc. (NASDAQ:ZS) Director Andrew William Fraser Brown sold 10,000 shares of the firm’s stock in a transaction that occurred on 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 directly owns 27,216 shares in the company, valued at approximately $5,606,496. The trade was a 26.87 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Zscaler Stock Down 7.2 %

Shares of Zscaler stock traded down $14.83 during trading on Thursday, reaching $192.21. 3,897,122 shares of the stock were exchanged, compared to its average volume of 1,915,071. The stock’s fifty day moving average is $202.76 and its 200 day moving average is $194.41. The firm has a market cap of $29.74 billion, a price-to-earnings ratio of -768.84 and a beta of 1.12. Zscaler, Inc. has a 1 year low of $153.45 and a 1 year high of $217.84.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Wedbush increased their target price on Zscaler from $230.00 to $240.00 and gave the company an “outperform” rating in a research note on Thursday, March 6th. Bank of America upgraded shares of Zscaler from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $215.00 to $240.00 in a report on Friday, March 7th. Sanford C. Bernstein reiterated an “outperform” rating and issued a $244.00 target price on shares of Zscaler in a report on Thursday, March 6th. Scotiabank restated a “sector outperform” rating and issued a $242.00 price objective (up previously from $225.00) on shares of Zscaler in a research report on Wednesday, March 5th. Finally, The Goldman Sachs Group set a $207.00 target price on Zscaler and gave the stock a “neutral” rating in a report on Thursday, March 6th. Eight analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $234.94.

Hedge Funds Weigh In On Zscaler

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Global X Japan Co. Ltd. grew its stake in shares of Zscaler by 127.4% in the 4th quarter. Global X Japan Co. Ltd. now owns 141 shares of the company’s stock worth $25,000 after buying an additional 79 shares during the last quarter. Summit Securities Group LLC bought a new position in shares of Zscaler during the fourth quarter valued at $27,000. Colonial Trust Co SC bought a new position in shares of Zscaler during the fourth quarter valued at $28,000. Stonebridge Financial Group LLC bought a new position in Zscaler in the 4th quarter worth about $29,000. Finally, Elequin Capital LP purchased a new stake in Zscaler during the 4th quarter valued at about $30,000. Hedge funds and other institutional investors own 46.45% of the company’s stock.

Zscaler Company Profile

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.