Zscaler, Inc. (NASDAQ:ZS) Major Shareholder Ajay Mangal Sells 190,480 Shares

Zscaler, Inc. (NASDAQ:ZS) major shareholder Ajay Mangal sold 190,480 shares of the firm’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $200.69, for a total transaction of $38,227,431.20. Following the sale, the insider now owns 2,580,210 shares in the company, valued at approximately $517,822,344.90. This trade represents a 6.87 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Zscaler Stock Performance

Shares of Zscaler stock opened at $205.20 on Friday. The stock has a market capitalization of $31.75 billion, a PE ratio of -820.80 and a beta of 0.88. Zscaler, Inc. has a 52-week low of $153.45 and a 52-week high of $217.84. The company has a 50-day simple moving average of $199.74 and a two-hundred day simple moving average of $191.84.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Global X Japan Co. Ltd. raised its holdings in Zscaler by 127.4% in the fourth quarter. Global X Japan Co. Ltd. now owns 141 shares of the company’s stock worth $25,000 after buying an additional 79 shares during the last quarter. Summit Securities Group LLC purchased a new position in shares of Zscaler during the fourth quarter valued at approximately $27,000. Colonial Trust Co SC purchased a new position in shares of Zscaler during the fourth quarter valued at approximately $28,000. Stonebridge Financial Group LLC purchased a new position in shares of Zscaler during the fourth quarter valued at approximately $29,000. Finally, Elequin Capital LP purchased a new position in shares of Zscaler during the fourth quarter valued at approximately $30,000. 46.45% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on ZS. Sanford C. Bernstein restated an “outperform” rating and set a $244.00 price objective on shares of Zscaler in a research report on Thursday, March 6th. Wells Fargo & Company raised their price objective 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. Bank of America upgraded shares of Zscaler from a “neutral” rating to a “buy” rating and raised their price objective for the company from $215.00 to $240.00 in a research report on Friday, March 7th. Canaccord Genuity Group raised their price objective on shares of Zscaler from $220.00 to $230.00 and gave the company a “buy” rating in a research report on Tuesday, December 3rd. Finally, Wedbush increased their target price on shares of Zscaler from $230.00 to $240.00 and gave the company 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 stock. According to data from MarketBeat.com, Zscaler has a consensus rating of “Moderate Buy” and a consensus price target of $232.68.

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.