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

Zscaler, Inc. (NASDAQ:ZS) CFO Remo Canessa sold 3,721 shares of the firm’s stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $199.15, for a total transaction of $741,037.15. Following the transaction, the chief financial officer now owns 213,702 shares of the company’s stock, valued at approximately $42,558,753.30. This represents a 1.71 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Zscaler Price Performance

Shares of ZS stock opened at $203.55 on Friday. The stock has a market cap of $31.49 billion, a PE ratio of -814.20 and a beta of 0.88. The stock has a 50-day moving average of $199.43 and a 200-day moving average of $191.81. Zscaler, Inc. has a one year low of $153.45 and a one year high of $217.84.

Analysts Set New Price Targets

Several research firms recently commented on ZS. Oppenheimer raised their target price on Zscaler from $230.00 to $250.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 3rd. BMO Capital Markets lifted their price objective on Zscaler from $222.00 to $233.00 and gave the company an “outperform” rating in a report on Thursday, March 6th. BTIG Research set a $252.00 target price on shares of Zscaler and gave the stock a “buy” rating in a report on Thursday, March 6th. Wells Fargo & Company lifted their price target on shares of Zscaler from $190.00 to $210.00 and gave the company an “equal weight” rating in a report on Thursday, March 6th. Finally, KeyCorp upped their price objective on shares of Zscaler from $245.00 to $250.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 3rd. Nine research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $232.68.

Institutional Investors Weigh In On Zscaler

Large investors have recently bought and sold shares of the company. Geode Capital Management LLC increased its holdings in shares of Zscaler by 2.0% in the fourth quarter. Geode Capital Management LLC now owns 1,658,406 shares of the company’s stock worth $298,710,000 after acquiring an additional 32,545 shares in the last quarter. Pictet Asset Management Holding SA increased its stake in Zscaler by 25.8% during the 4th quarter. Pictet Asset Management Holding SA now owns 1,618,176 shares of the company’s stock worth $291,935,000 after purchasing an additional 332,307 shares in the last quarter. Champlain Investment Partners LLC raised its holdings in Zscaler by 28.2% during the 3rd quarter. Champlain Investment Partners LLC now owns 1,289,350 shares of the company’s stock worth $220,401,000 after buying an additional 283,540 shares during the period. AQR Capital Management LLC lifted 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 buying an additional 525,956 shares in the last quarter. Finally, Artisan Partners Limited Partnership lifted its stake in Zscaler by 30.9% in the fourth quarter. Artisan Partners Limited Partnership now owns 868,795 shares of the company’s stock valued at $156,739,000 after buying an additional 204,996 shares in the last quarter. Institutional investors 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.