Zscaler, Inc. (NASDAQ:ZS) Major Shareholder Ajay Mangal Sells 120,000 Shares of Stock

Zscaler, Inc. (NASDAQ:ZS) major shareholder Ajay Mangal sold 120,000 shares of the stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $300.89, for a total transaction of $36,106,800.00. Following the completion of the transaction, the insider now directly owns 2,550,210 shares of the company’s stock, valued at approximately $767,332,686.90. The trade was a 4.49% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 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 Price Performance

NASDAQ:ZS opened at $299.86 on Thursday. The firm has a market capitalization of $46.69 billion, a price-to-earnings ratio of -1,199.44 and a beta of 1.09. The company’s 50-day moving average is $236.33 and its two-hundred day moving average is $211.46. Zscaler, Inc. has a 1-year low of $153.45 and a 1-year high of $306.78.

Zscaler (NASDAQ:ZS) last posted its earnings results on Thursday, May 29th. The company reported $0.84 earnings per share for the quarter, beating the consensus estimate of $0.76 by $0.08. The company had revenue of $678.03 million for the quarter, compared to analyst estimates of $667.13 million. Zscaler had a negative net margin of 1.58% and a negative return on equity of 0.75%. Zscaler’s revenue was up 22.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.88 EPS. As a group, equities analysts anticipate that Zscaler, Inc. will post -0.1 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Zscaler

Several institutional investors and hedge funds have recently bought and sold shares of the company. Quintet Private Bank Europe S.A. boosted its holdings in Zscaler by 4.7% in the 1st quarter. Quintet Private Bank Europe S.A. now owns 1,120 shares of the company’s stock valued at $222,000 after purchasing an additional 50 shares during the last quarter. Corebridge Financial Inc. boosted its holdings in Zscaler by 0.5% in the 4th quarter. Corebridge Financial Inc. now owns 11,695 shares of the company’s stock valued at $2,110,000 after purchasing an additional 54 shares during the last quarter. Erste Asset Management GmbH boosted its holdings in Zscaler by 0.6% in the 4th quarter. Erste Asset Management GmbH now owns 9,780 shares of the company’s stock valued at $1,805,000 after purchasing an additional 56 shares during the last quarter. Ironwood Investment Management LLC lifted its holdings in shares of Zscaler by 1.0% in the 4th quarter. Ironwood Investment Management LLC now owns 6,249 shares of the company’s stock worth $1,127,000 after acquiring an additional 64 shares during the last quarter. Finally, Cerity Partners LLC lifted its holdings in shares of Zscaler by 0.3% in the 1st quarter. Cerity Partners LLC now owns 22,928 shares of the company’s stock worth $4,549,000 after acquiring an additional 68 shares during the last quarter. 46.45% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ZS has been the topic of a number of recent analyst reports. The Goldman Sachs Group set a $207.00 price objective on shares of Zscaler and gave the stock a “neutral” rating in a research report on Thursday, March 6th. Royal Bank of Canada lifted their price objective on shares of Zscaler from $288.00 to $304.00 and gave the stock an “outperform” rating in a research note on Friday, May 30th. Wall Street Zen upgraded Zscaler from a “hold” rating to a “buy” rating in a research note on Sunday. Bank of America lifted their price objective on shares of Zscaler from $285.00 to $340.00 and gave the company a “buy” rating in a report on Monday. Finally, FBN Securities raised shares of Zscaler to a “strong-buy” rating in a report on Friday, May 30th. Nine investment analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $288.71.

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.