Zscaler, Inc. (NASDAQ:ZS) Major Shareholder Sells $36,106,800.00 in Stock

Zscaler, Inc. (NASDAQ:ZS - Get Free Report) major shareholder Ajay Mangal sold 120,000 shares of Zscaler stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $300.89, for a total value of $36,106,800.00. Following the sale, the insider now directly owns 2,550,210 shares of the company's stock, valued at $767,332,686.90. This trade represents a 4.49% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Large shareholders that own more than 10% of a company's stock are required to disclose their sales and purchases with the SEC.

Ajay Mangal also recently made the following trade(s):

• On Monday, March 17th, Ajay Mangal sold 190,480 shares of Zscaler stock. The stock was sold at an average price of $200.69, for a total transaction of $38,227,431.20.

Zscaler Stock Performance

Shares of NASDAQ:ZS traded up $3.28 during midday trading on Thursday, hitting $303.14. The company's stock had a trading volume of 890,767 shares, compared to its average volume of 2,284,732. The company has a market cap of $47.20 billion, a P/E ratio of -1,212.56 and a beta of 1.09. Zscaler, Inc. has a 12-month low of $153.45 and a 12-month high of $306.77. The business's 50 day simple moving average is $236.33 and its 200 day simple moving average is $211.46.

Zscaler (NASDAQ:ZS - Get Free Report) last issued its earnings results on Thursday, May 29th. The company reported $0.84 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.08. Zscaler had a negative return on equity of 0.75% and a negative net margin of 1.58%. The business had revenue of $678.03 million for the quarter, compared to analysts' expectations of $667.13 million. During the same period in the previous year, the firm posted $0.88 EPS. The business's revenue for the quarter was up 22.6% compared to the same quarter last year. On average, sell-side analysts predict that Zscaler, Inc. will post -0.1 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of ZS. T. Rowe Price Investment Management Inc. acquired a new position in Zscaler in the first quarter valued at about $516,622,000. Nuveen LLC acquired a new position in shares of Zscaler in the 1st quarter worth approximately $153,340,000. Goldman Sachs Group Inc. boosted its position in shares of Zscaler by 23.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,048,238 shares of the company's stock worth $604,831,000 after purchasing an additional 578,883 shares during the period. AQR Capital Management LLC increased its holdings in Zscaler by 120.1% in the 4th quarter. AQR Capital Management LLC now owns 964,031 shares of the company's stock valued at $173,921,000 after purchasing an additional 525,956 shares during the last quarter. Finally, Natixis purchased a new stake in Zscaler in the fourth quarter valued at approximately $87,775,000. Institutional investors and hedge funds own 46.45% of the company's stock.

Wall Street Analysts Forecast Growth

ZS has been the topic of several recent research reports. BMO Capital Markets upped their price target on shares of Zscaler from $233.00 to $295.00 and gave the company an "outperform" rating in a report on Friday, May 30th. Guggenheim restated a "neutral" rating on shares of Zscaler in a research note on Friday, May 30th. Wall Street Zen upgraded Zscaler from a "hold" rating to a "buy" rating in a research report on Sunday. Susquehanna boosted their price target on Zscaler from $245.00 to $320.00 and gave the company a "positive" rating in a report on Friday, May 30th. Finally, Stephens restated an "overweight" rating and issued a $255.00 price objective on shares of Zscaler in a research report on Tuesday, May 27th. Nine equities research analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Zscaler currently has a consensus rating of "Moderate Buy" and a consensus target price of $288.71.

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.