Remo Canessa Sells 3,721 Shares of Zscaler, Inc. (NASDAQ:ZS) Stock

Zscaler, Inc. (NASDAQ:ZS - Get Free Report) CFO Remo Canessa sold 3,721 shares of the firm's stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $199.15, for a total value of $741,037.15. Following the completion of the transaction, the chief financial officer now owns 213,702 shares in the company, valued at $42,558,753.30. The trade was a 1.71 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Zscaler Trading Up 2.3 %

Shares of ZS traded up $4.67 during mid-day trading on Monday, hitting $209.87. 1,573,124 shares of the company's stock were exchanged, compared to its average volume of 1,861,798. The firm has a market capitalization of $32.47 billion, a P/E ratio of -839.48 and a beta of 0.88. Zscaler, Inc. has a fifty-two week low of $153.45 and a fifty-two week high of $217.84. The business's 50 day moving average is $199.74 and its two-hundred day moving average is $192.08.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Piper Sandler raised their target price on shares of Zscaler from $215.00 to $235.00 and gave the stock an "overweight" rating in a research note on Tuesday, December 3rd. Wells Fargo & Company boosted their price target on shares of Zscaler from $190.00 to $210.00 and gave the company an "equal weight" rating in a research report on Thursday, March 6th. 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. UBS Group increased their price target on shares of Zscaler from $250.00 to $260.00 and gave the company a "buy" rating in a research note on Thursday, March 6th. Finally, Robert W. Baird increased their price target on Zscaler from $240.00 to $250.00 and gave the stock an "outperform" rating in a report on Thursday, March 6th. Nine investment analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $232.68.

Remove Ads

Hedge Funds Weigh In On Zscaler

Several institutional investors have recently bought and sold shares of ZS. Global X Japan Co. Ltd. boosted its holdings in Zscaler by 127.4% in the 4th quarter. Global X Japan Co. Ltd. now owns 141 shares of the company's stock valued at $25,000 after purchasing an additional 79 shares in the last quarter. Summit Securities Group LLC acquired a new stake in shares of Zscaler in the fourth quarter valued at about $27,000. Colonial Trust Co SC purchased a new position in Zscaler in the fourth quarter valued at about $28,000. Stonebridge Financial Group LLC acquired a new stake in shares of Zscaler in the 4th quarter worth approximately $29,000. Finally, Elequin Capital LP acquired a new stake in shares of Zscaler in the 4th quarter worth approximately $30,000. 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.