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 company’s stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $250.00, for a total transaction of $7,236,750.00. Following the sale, the insider now directly owns 110,566 shares of the company’s stock, valued at $27,641,500. This represents a 20.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Zscaler Stock Performance

NASDAQ ZS opened at $248.72 on Thursday. The firm has a 50-day simple moving average of $213.53 and a 200 day simple moving average of $203.38. Zscaler, Inc. has a twelve month low of $153.45 and a twelve month high of $253.94. The stock has a market cap of $38.48 billion, a PE ratio of -994.88 and a beta of 1.14.

Analyst Upgrades and Downgrades

ZS has been the subject of a number of research analyst reports. Stifel Nicolaus increased their target price on Zscaler from $235.00 to $270.00 and gave the company a “buy” rating in a report on Friday, May 16th. The Goldman Sachs Group set a $207.00 target price on shares of Zscaler and gave the company a “neutral” rating in a research note on Thursday, March 6th. Cantor Fitzgerald raised shares of Zscaler from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $220.00 to $250.00 in a research note on Thursday, April 3rd. Morgan Stanley lowered their target price on shares of Zscaler from $205.00 to $200.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 16th. Finally, BMO Capital Markets raised their target price on Zscaler from $222.00 to $233.00 and gave the company an “outperform” rating in a report on Thursday, March 6th. Eight investment analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $238.53.

Hedge Funds Weigh In On Zscaler

Large investors have recently added to or reduced their stakes in the company. Geneos Wealth Management Inc. boosted its stake in Zscaler by 26.7% during the first quarter. Geneos Wealth Management Inc. now owns 6,170 shares of the company’s stock worth $1,224,000 after buying an additional 1,299 shares in the last quarter. Belpointe Asset Management LLC increased its stake in Zscaler by 10.8% in the first quarter. Belpointe Asset Management LLC now owns 1,166 shares of the company’s stock valued at $231,000 after acquiring an additional 114 shares during the period. Jupiter Wealth Management LLC acquired a new position in Zscaler in the first quarter worth about $298,000. Focus Partners Wealth raised its position in Zscaler by 2.5% in the first quarter. Focus Partners Wealth now owns 62,083 shares of the company’s stock worth $12,319,000 after purchasing an additional 1,517 shares in the last quarter. Finally, Bayforest Capital Ltd bought a new position in Zscaler during the first quarter worth about $34,000. Institutional investors and hedge funds 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.