Insider Selling: Schlossman Robert, Zscaler Inc. [ZS] Chief Legal Officer divested 8,045 shares

Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Zscaler Inc. shares valued at $1,351,337 were sold by Schlossman Robert on Sep 16. At $167.97 per share, Schlossman Robert sold 8,045 shares. The insider’s holdings dropped to 135,381 shares worth approximately $22.01 million following the completion of this transaction.

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Also, Sinha Amit sold 18,974 shares, netting a total of over 3,187,108 in proceeds. Following the sale of shares at $167.97 each, the insider now holds 319,023 shares.

Before that, CANESSA REMO had sold 10,366 shares from its account. In a trade valued at $1,741,202, the Chief Financial Officer traded Zscaler Inc. shares for $167.97 each. Upon closing the transaction, the insider’s holdings decreased to 10,366 shares, worth approximately $47.65 million.

As published in their initiating research note from MoffettNathanson on September 22, 2022, Zscaler Inc. [ZS] has been a Hold and the price target has been revised to $268. This represents a 39.34% premium over Thursday’s closing price. Analysts at MKM Partners started covering the stock with ‘”a Buy”‘ outlook in a report released in mid September. As of September 15, 2022, Jefferies has initiated its “Hold” rating for ZS. Earlier on August 12, 2022, Guggenheim initiated its rating. Their recommendation was “a Buy” for ZS stock.

Analyzing ZS’s Price Performance

On Thursday, Zscaler Inc. [NASDAQ: ZS] plunged -5.42% to $162.56. The stock’s lowest price that day was $162.50, but it reached a high of $173.66 in the same session. During the last five days, there has been a drop of approximately -7.63%. Over the course of the year, Zscaler Inc. shares have dropped approximately -49.41%. Shares of the company reached a 52-week high of $323.55 on 01/03/22 and a 52-week low of $125.12 on 05/18/22. A 50-day SMA is recorded $164.16, while a 200-day SMA reached $206.50. Nevertheless, trading volume fell to 2.05 million shares from 2.17 million shares the previous day.

Support And Resistance Levels for Zscaler Inc. (ZS)

According to the 24-hour chart, there is a support level at 158.82, which, if violated, would cause prices to drop to 155.08. In the upper region, resistance lies at 169.98. The next price resistance is at 177.40. RSI (Relative Strength Index) is 46.47 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.11, which suggests the price will decrease in the coming days. Percent R is at 60.69%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.

Is Zscaler Inc. subject to short interest?

Stocks of Zscaler Inc. saw a sharp steep in short interest on Jul 14, 2022 dropping by -0.91 million shares to 5.72 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 6.63 million shares. A decline of -15.91% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 2.62 of the overall float, the days-to-cover ratio (short ratio) decline to 2.62.

Which companies own the most shares of Zscaler Inc. (ZS)?

According to The Vanguard Group, Inc. filings, the company currently owns 7,602,713 shares, which is about 5.36% of the total ZS shares outstanding. The investor’s shares have appreciated by 159,126 from its previous 13-F filing of 7443587.0 shares. With the completion of the buy transaction, Capital Research & Management Co’s stake is now worth $735,757,114. BlackRock Fund Advisors reduced a -6.37% interest valued at $553.78 million while First Trust Advisors LP purchased a 477,894 stake. A total of -25,531 shares of Zscaler Inc. were bought by Allianz Global Investors U.S. LLC during the quarter, and -61,370 were sold by SSgA Funds Management, Inc.. In its current portfolio, Artisan Partners LP holds 1,593,820 shares valued at $253.8 million.

In terms of Zscaler Inc. share price expectations, FactSet research, analysts set an average price target of $214.10 in the next 12 months, up nearly 22.18% from the previous closing price of $171.88. Analysts anticipate Zscaler Inc. stock to reach $280.00 by 2022, with the lowest price target being $165.00. In spite of this, 34 analysts ranked Zscaler Inc. stock as a Buy at the end of 2022.


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