Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Zscaler Inc shares valued at $1,063,224 were sold by Schlossman Robert on Mar 19 ’24. At $193.88 per share, Schlossman Robert sold 5,484 shares. The insider’s holdings dropped to 118,494 shares worth approximately $21.9 million following the completion of this transaction.
Also, CANESSA REMO sold 7,707 shares, netting a total of over 1,488,579 in proceeds. Following the sale of shares at $193.15 each, the insider now holds 255,943 shares.
Before that, Schlossman Robert had sold 4,227 shares from its account. In a trade valued at $816,429, the Chief Legal Officer traded Zscaler Inc shares for $193.15 each. Upon closing the transaction, the insider’s holdings decreased to 4,227 shares, worth approximately $22.91 million.
As published in their initiating research note from Bernstein on January 18, 2024, Zscaler Inc [ZS] has been an Outperform and the price target has been revised to $311. Analysts at KeyBanc Capital Markets started covering the stock with ‘”a Sector weight”‘ outlook in a report released in mid January. As of January 03, 2024, Oppenheimer has reiterated its “an Outperform” rating for ZS. Earlier on December 15, 2023, Susquehanna initiated its rating. Their recommendation was “a Positive” for ZS stock.
Analyzing ZS Stock Performance
During the last five days, there has been a surge of approximately 1.52%. Over the course of the year, Zscaler Inc shares have dropped approximately -16.60%. Shares of the company reached a 52-week high of $259.61 on 02/09/24 and a 52-week low of $181.13 on 04/04/24. A 50-day SMA is recorded $214.93, while a 200-day SMA reached $185.07. Nevertheless, trading volume fell to 1.12 million shares from 1.78 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 183.20, which, if violated, would cause prices to drop to 181.62. In the upper region, resistance lies at 186.04. The next price resistance is at 187.30. RSI (Relative Strength Index) is 34.81 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -3.13, which suggests the price will decrease in the coming days. Percent R is at 79.55%, indicating bearish 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 rise in short interest on Mar 15, 2024 jumping by 90000.0 shares to 4.56 million. Data from Yahoo Finance shows that the short interest on Feb 15, 2024 was 4.47 million shares. A jump of 1.97% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 1.29 of the overall float, the days-to-cover ratio (short ratio) jumped to 1.29.
