Syam Nair Sells 28,947 Shares of Zscaler, Inc. (NASDAQ:ZS) Stock

Zscaler, Inc. (NASDAQ:ZS) insider Syam Nair sold 28,947 shares of the business’s stock in a transaction that occurred on Friday, May 16th. The shares were 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 document filed with the SEC, which is available through this link.

Zscaler Trading Up 0.4%

ZS traded up $1.07 during midday trading on Monday, hitting $252.57. 2,046,840 shares of the company were exchanged, compared to its average volume of 2,044,854. The company’s 50 day simple moving average is $211.27 and its 200 day simple moving average is $202.72. The firm has a market capitalization of $39.08 billion, a price-to-earnings ratio of -1,010.28 and a beta of 1.14. Zscaler, Inc. has a 1-year low of $153.45 and a 1-year high of $253.75.

Analyst Ratings Changes

ZS has been the subject of a number of analyst reports. Wells Fargo & Company upped their target price on Zscaler from $190.00 to $210.00 and gave the stock an “equal weight” rating in a report on Thursday, March 6th. Needham & Company LLC restated a “buy” rating and set a $240.00 target price on shares of Zscaler in a report on Wednesday, March 5th. Stephens initiated coverage on Zscaler in a report on Tuesday, April 1st. They set an “overweight” rating and a $255.00 target price for the company. Royal Bank of Canada upped their target price on Zscaler from $230.00 to $250.00 and gave the stock an “outperform” rating in a report on Thursday, March 6th. Finally, Jefferies Financial Group lowered their target price on Zscaler from $245.00 to $240.00 and set a “buy” rating for the company in a report on Monday, March 31st. Eight research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $238.53.

Institutional Investors Weigh In On Zscaler

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ZS. Global X Japan Co. Ltd. grew its position in Zscaler by 127.4% during the 4th quarter. Global X Japan Co. Ltd. now owns 141 shares of the company’s stock worth $25,000 after purchasing an additional 79 shares during the period. ORG Partners LLC grew its position in Zscaler by 284.8% during the 1st quarter. ORG Partners LLC now owns 127 shares of the company’s stock worth $26,000 after purchasing an additional 94 shares during the period. SVB Wealth LLC acquired a new stake in Zscaler during the 1st quarter worth about $26,000. Summit Securities Group LLC acquired a new stake in Zscaler during the 4th quarter worth about $27,000. Finally, Colonial Trust Co SC acquired a new stake in Zscaler during the 4th quarter worth about $28,000. 46.45% of the stock is owned by institutional investors and hedge funds.

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.