Zscaler, Inc. (NASDAQ:ZS) Major Shareholder Sells $38,227,431.20 in Stock

Zscaler, Inc. (NASDAQ:ZS - Get Free Report) major shareholder Ajay Mangal sold 190,480 shares of Zscaler stock in a transaction on Monday, March 17th. The shares were sold at an average price of $200.69, for a total value of $38,227,431.20. Following the completion of the transaction, the insider now owns 2,580,210 shares in the company, valued at $517,822,344.90. The trade was a 6.87 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Large shareholders that own at least 10% of a company's stock are required to disclose their sales and purchases with the SEC.

Zscaler Stock Up 0.8 %

Shares of NASDAQ:ZS traded up $1.65 during trading on Friday, hitting $205.20. 1,826,357 shares of the company traded hands, compared to its average volume of 1,862,956. The stock has a market capitalization of $31.75 billion, a price-to-earnings ratio of -820.80 and a beta of 0.88. The business's fifty day moving average is $199.74 and its 200-day moving average is $191.83. Zscaler, Inc. has a one year low of $153.45 and a one year high of $217.84.

Analyst Ratings Changes

A number of research analysts have commented on the company. KeyCorp boosted their price objective on Zscaler from $245.00 to $250.00 and gave the stock an "overweight" rating in a research note on Tuesday, December 3rd. Mizuho boosted their price objective on Zscaler from $210.00 to $225.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 12th. 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 note on Wednesday, March 5th. BTIG Research set a $252.00 price objective on Zscaler and gave the stock a "buy" rating in a research note on Thursday, March 6th. Finally, Royal Bank of Canada boosted their price objective on Zscaler from $230.00 to $250.00 and gave the stock an "outperform" rating in a research note on Thursday, March 6th. Nine investment analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $232.68.

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Hedge Funds Weigh In On Zscaler

Several institutional investors have recently made changes to their positions in the stock. Corebridge Financial Inc. grew its holdings in shares of Zscaler by 0.5% during the fourth quarter. Corebridge Financial Inc. now owns 11,695 shares of the company's stock valued at $2,110,000 after purchasing an additional 54 shares during the last quarter. Erste Asset Management GmbH boosted its position in shares of Zscaler by 0.6% during the fourth quarter. Erste Asset Management GmbH now owns 9,780 shares of the company's stock worth $1,805,000 after buying an additional 56 shares during the period. KRS Capital Management LLC boosted its position in shares of Zscaler by 1.9% during the fourth quarter. KRS Capital Management LLC now owns 3,261 shares of the company's stock worth $588,000 after buying an additional 60 shares during the period. Ironwood Investment Management LLC boosted its position in shares of Zscaler by 1.0% during the fourth quarter. Ironwood Investment Management LLC now owns 6,249 shares of the company's stock worth $1,127,000 after buying an additional 64 shares during the period. Finally, Smartleaf Asset Management LLC boosted its position in shares of Zscaler by 16.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 482 shares of the company's stock worth $88,000 after buying an additional 69 shares during the period. 46.45% of the stock is owned by institutional investors.

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.