Zscaler, Inc. (NASDAQ:ZS) CEO Jagtar Singh Chaudhry Sells 2,155 Shares

Zscaler, Inc. (NASDAQ:ZS - Get Free Report) CEO Jagtar Singh Chaudhry sold 2,155 shares of Zscaler stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $199.15, for a total transaction of $429,168.25. Following the completion of the sale, the chief executive officer now directly owns 356,414 shares of the company's stock, valued at approximately $70,979,848.10. The trade was a 0.60 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Zscaler Stock Up 2.3 %

NASDAQ:ZS traded up $4.67 during mid-day trading on Monday, reaching $209.87. 1,573,124 shares of the company were exchanged, compared to its average volume of 1,861,798. The stock has a market cap of $32.47 billion, a PE ratio of -839.48 and a beta of 0.88. Zscaler, Inc. has a 12 month low of $153.45 and a 12 month high of $217.84. The company has a fifty day moving average of $199.74 and a 200 day moving average of $192.08.

Wall Street Analyst Weigh In

ZS has been the subject of several analyst reports. Barclays restated an "overweight" rating on shares of Zscaler in a report on Wednesday, March 5th. Scotiabank restated a "sector outperform" rating and issued a $242.00 price objective (up from $225.00) on shares of Zscaler in a research note on Wednesday, March 5th. KeyCorp raised their target price on shares of Zscaler from $245.00 to $250.00 and gave the company an "overweight" rating in a research note on Tuesday, December 3rd. Morgan Stanley initiated coverage on shares of Zscaler in a research report on Tuesday, March 18th. They set an "equal weight" rating for the company. Finally, Deutsche Bank Aktiengesellschaft raised their price target on Zscaler from $200.00 to $225.00 and gave the company a "buy" rating in a research report on Tuesday, December 3rd. Nine analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. Based on data from MarketBeat, Zscaler currently has a consensus rating of "Moderate Buy" and an average target price of $232.68.

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Hedge Funds Weigh In On Zscaler

A number of large investors have recently modified their holdings of the stock. Geode Capital Management LLC raised its holdings in Zscaler by 2.0% during the 4th quarter. Geode Capital Management LLC now owns 1,658,406 shares of the company's stock worth $298,710,000 after purchasing an additional 32,545 shares during the last quarter. Pictet Asset Management Holding SA raised its stake in shares of Zscaler by 25.8% during the fourth quarter. Pictet Asset Management Holding SA now owns 1,618,176 shares of the company's stock worth $291,935,000 after buying an additional 332,307 shares during the last quarter. Champlain Investment Partners LLC lifted its holdings in Zscaler by 28.2% in the third quarter. Champlain Investment Partners LLC now owns 1,289,350 shares of the company's stock valued at $220,401,000 after buying an additional 283,540 shares during the period. AQR Capital Management LLC boosted its stake in Zscaler by 120.1% in the fourth quarter. AQR Capital Management LLC now owns 964,031 shares of the company's stock valued at $173,921,000 after acquiring an additional 525,956 shares during the last quarter. Finally, Artisan Partners Limited Partnership grew its holdings in Zscaler by 30.9% during the 4th quarter. Artisan Partners Limited Partnership now owns 868,795 shares of the company's stock worth $156,739,000 after acquiring an additional 204,996 shares during the period. 46.45% of the stock is currently owned by institutional investors and hedge funds.

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.